The project has been rebranded and is now called Microchain. Further posts will be published in a new blog. Link below.
MIRA (Microchain)Post-Mortem
SummaryOn October 19th the Mira protocol experienced a security incident where two bugs in Mira's codebase caused the application to inadvertently overpay some traders at the expense of others. In total traders walked away with ~$68k of assets that belonged to LPs in the sDai/USDC pool. The issue was quickly mitigated, and all users were refunded in full within six days of the incident. Below is our analysis of the incident to improve the security in the Fuel ecosystem and to ensure tran...
MIRA (Microchain)Introducing MIRA
MIRA is LIVE on Fuel Mainnet. Swap tokens and add liquidity to the pools on Fuel! MIRA is one of the most efficient ways to earn Fuel Activity and Gas points for Phase 2 of the Fuel Points Program. Audited by Halborn Security and OtterSec. We are an open-sourced and decentralized platform that matches three types of customers: traders, LPs, and protocols. MIRA is a basic Automated Market Maker (AMM) that will subsequently transition to ve(3,3). Its key difference from traditional DEXs will in...
MIRA (Microchain)Fuel Season 1 X MIRA: Provide Liquidity, Get Boosts, Earn FUEL
Happy New Year to all MIRA and Fuel Ignition users! Exciting news: Fuel has officially launched its new incentivized program, Fuel Season 1 (FS-1), to drive liquidity and activity across the ecosystem. This new initiative marks the end of the Fuel Points program and the start of the new incentive programs era on Fuel, where FUEL rewards will be distributed through Fuel dapps and their campaigns rather than directly as a drop from the Fuel blockchain. As part of FS-1, and in collaboration with...
MIRA (Microchain)Post-Mortem
SummaryOn October 19th the Mira protocol experienced a security incident where two bugs in Mira's codebase caused the application to inadvertently overpay some traders at the expense of others. In total traders walked away with ~$68k of assets that belonged to LPs in the sDai/USDC pool. The issue was quickly mitigated, and all users were refunded in full within six days of the incident. Below is our analysis of the incident to improve the security in the Fuel ecosystem and to ensure tran...
MIRA (Microchain)Introducing MIRA
MIRA is LIVE on Fuel Mainnet. Swap tokens and add liquidity to the pools on Fuel! MIRA is one of the most efficient ways to earn Fuel Activity and Gas points for Phase 2 of the Fuel Points Program. Audited by Halborn Security and OtterSec. We are an open-sourced and decentralized platform that matches three types of customers: traders, LPs, and protocols. MIRA is a basic Automated Market Maker (AMM) that will subsequently transition to ve(3,3). Its key difference from traditional DEXs will in...
MIRA (Microchain)Fuel Season 1 X MIRA: Provide Liquidity, Get Boosts, Earn FUEL
Happy New Year to all MIRA and Fuel Ignition users! Exciting news: Fuel has officially launched its new incentivized program, Fuel Season 1 (FS-1), to drive liquidity and activity across the ecosystem. This new initiative marks the end of the Fuel Points program and the start of the new incentive programs era on Fuel, where FUEL rewards will be distributed through Fuel dapps and their campaigns rather than directly as a drop from the Fuel blockchain. As part of FS-1, and in collaboration with...
The project has been rebranded and is now called Microchain. Further posts will be published in a new blog. Link below.
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The MIRA Team unlocks a next milestone in the project roadmap!
Liquidity Points Program is the next step towards the MIRA’s token launch and ve(3,3) model transition. We’re excited to get it started and bring on board more liquidity providers from Fuel and beyond. Building a strong community of liquidity providers and professional traders benefits all the parties involved and is one of the main objectives of the MIRA team.
Liquidity providers on MIRA, in turn, will have the opportunity to earn points and further associated incentives in the future. Let’s explore the details more!
The program distributes a fixed number of points per day across a selected set of pools. The allocation of daily points to each pool is determined based on its value for MIRA traders.
Users earn points proportionally to their share of liquidity in the qualifying pools.
LPs can track their points and rating among other program participants in the leaderboard. The system continuously tracks LP tokens and updates point distribution in real-time, reflecting changes at least once per hour. If an LP removes liquidity, their share of the pool decreases proportionally to the liquidity removed. Further points will be acquired proportionally to the new share of the pool. Points accrued in the past, don’t extinguish.
Points do not expire and can be exchanged for future incentives or benefits.
The set of pools as well as the exact number of points allocated to each pool on a daily basis might be reviewed and modified by the MIRA Team once a month with prior notice. The program can be modified or discontinued with prior notice at least two weeks in advance. Any further changes will be announced on MIRA social networks and this post will be updated. To stay informed, follow MIRA on X and join our Discord.
The points in the program are calculated via the following formula:
Where:
User’s LP tokens = Number of LP tokens held by the user at the time of calculation.
Total LP tokens = Total supply of LP tokens in the given pool.
Daily Points Allocation = Fixed amount of points assigned to the given pool.
Calculation Example
Pool: ETH/USDC
Daily Points Allocation: 500,000
Total LP tokens in the pool: 100,000
User's LP tokens: 10,000
If we put all of those numbers in the formula, we will get the following result:
*User’s Daily Points = (10,000/ 100,000)500,000 = 50,000
From 10 Mar 2 PM UTC to 23 August 2 PM UTC 2025, only four pools are included in the MIRA Point Program rewards. Check the details in the table depicted below.
Thanks to The Rig, 2 more pools are included in the program from the 27th of June, 1 PM UTC:
Learn how to provide liquidity on MIRA in our step-by-step guide.
The current program is aimed at incentivising liquidity on MIRA and bringing a better trading experience to Fuel. More updates on the MIRA Liquidity Points Program to come! If you have any questions or feedback, don’t hesitate to reach out to our team on Discord. Follow our X not to miss out on any news!
Best regards,The MIRA Team
The MIRA Team unlocks a next milestone in the project roadmap!
Liquidity Points Program is the next step towards the MIRA’s token launch and ve(3,3) model transition. We’re excited to get it started and bring on board more liquidity providers from Fuel and beyond. Building a strong community of liquidity providers and professional traders benefits all the parties involved and is one of the main objectives of the MIRA team.
Liquidity providers on MIRA, in turn, will have the opportunity to earn points and further associated incentives in the future. Let’s explore the details more!
The program distributes a fixed number of points per day across a selected set of pools. The allocation of daily points to each pool is determined based on its value for MIRA traders.
Users earn points proportionally to their share of liquidity in the qualifying pools.
LPs can track their points and rating among other program participants in the leaderboard. The system continuously tracks LP tokens and updates point distribution in real-time, reflecting changes at least once per hour. If an LP removes liquidity, their share of the pool decreases proportionally to the liquidity removed. Further points will be acquired proportionally to the new share of the pool. Points accrued in the past, don’t extinguish.
Points do not expire and can be exchanged for future incentives or benefits.
The set of pools as well as the exact number of points allocated to each pool on a daily basis might be reviewed and modified by the MIRA Team once a month with prior notice. The program can be modified or discontinued with prior notice at least two weeks in advance. Any further changes will be announced on MIRA social networks and this post will be updated. To stay informed, follow MIRA on X and join our Discord.
The points in the program are calculated via the following formula:
Where:
User’s LP tokens = Number of LP tokens held by the user at the time of calculation.
Total LP tokens = Total supply of LP tokens in the given pool.
Daily Points Allocation = Fixed amount of points assigned to the given pool.
Calculation Example
Pool: ETH/USDC
Daily Points Allocation: 500,000
Total LP tokens in the pool: 100,000
User's LP tokens: 10,000
If we put all of those numbers in the formula, we will get the following result:
*User’s Daily Points = (10,000/ 100,000)500,000 = 50,000
From 10 Mar 2 PM UTC to 23 August 2 PM UTC 2025, only four pools are included in the MIRA Point Program rewards. Check the details in the table depicted below.
Thanks to The Rig, 2 more pools are included in the program from the 27th of June, 1 PM UTC:
Learn how to provide liquidity on MIRA in our step-by-step guide.
The current program is aimed at incentivising liquidity on MIRA and bringing a better trading experience to Fuel. More updates on the MIRA Liquidity Points Program to come! If you have any questions or feedback, don’t hesitate to reach out to our team on Discord. Follow our X not to miss out on any news!
Best regards,The MIRA Team
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