MIRA (Microchain)MIRA Liquidity Points Program Launch
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 ear...
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...
The project has been rebranded and is now called Microchain. Further posts will be published in a new blog. Link below.
MIRA (Microchain)MIRA Liquidity Points Program Launch
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 ear...
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...
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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A few weeks ago, MIRA launched swaps — and the time has come to roll out the next update from our roadmap: Liquidity Pools! Now you can provide liquidity to MIRA while enjoying the exceptional UX and advantages provided by the Fuel Network.
In the future MIRA will offer LPs (Liquidity Providers) various options for earning incentives including our own Points program as well as the opportunity to take part in the Fuel Points program. More details and an intro to liquidity for newbies are in this article!
MIRA is an open-sourced and decentralized platform that matches three types of customers: traders, LPs, and protocols. MIRA will launch as a basic automated market maker (AMM) and will subsequently transition to ve(3,3). Its key difference from traditional DEXs will include bribes/incentive permissionless mechanisms for protocols to boost their liquidity.
Currently, we allow for token swaps on the Fuel Testnet, including BTC, ETH, and USDC. To connect to the platform, you can use any native Fuel wallet (like Fuelet), or Ethereum and Solana wallets.
Read more about MIRA protocol design and roadmap in our article.
In crypto, liquidity is the ability to buy or sell a token with minimal impact on its price. When a token pair has sufficient liquidity, you can trade it quickly and efficiently, even when trading volumes are high, without significant loss of value.
Liquidity pools allow DEXs to provide liquidity for swaps of token pairs like USDC/ETH, USDT/BTC, and more. They make it possible for people to trade tokens 24/7, even if there isn’t someone on the other side of the trade. These pools help keep low slippage meaning it makes prices stable, so you can swap one token for another whenever you want to. Trading becomes smoother!
People who provide their tokens to the platform by placing them into liquidity pools are called Liquidity Providers. In return for providing liquidity, they earn fees from each trade that happens and may also receive additional rewards like bribes in the upcoming ve(3,3) version of MIRA.
To add liquidity on MIRA, complete those easy steps:
Connect any Fuel, Ethereum, or Solana wallet to MIRA.
Click on the “Liquidity” tab.
Select a token pair with equal value on your available balance, ex. X $ETH = Y $USDT. Note that the testnet exchange rate on MIRA might be different from real prices.
Enter the needed value.
Click on the “Add liquidity” button.
If you don’t have enough tokens or have only one token available, you can get a testnet $ETH faucet - and swap it for any other token with MIRA help. If you don’t have a wallet, we recommend creating an account on Fuel with Fuelet.
Done! Now you’re a MIRA LP, don’t forget to withdraw your rewards from trading fees later on.
A whole new era of testing the MIRA app has just begun! We appreciate working with our early testers, as you help us improve the platform and prepare for the Fuel Mainnet 2024.
Enjoy trading on the Fuel Network with MIRA! If you have any questions, reach out to us on our Discord. Turn on our X account notifications so you don’t miss the latest updates!
A few weeks ago, MIRA launched swaps — and the time has come to roll out the next update from our roadmap: Liquidity Pools! Now you can provide liquidity to MIRA while enjoying the exceptional UX and advantages provided by the Fuel Network.
In the future MIRA will offer LPs (Liquidity Providers) various options for earning incentives including our own Points program as well as the opportunity to take part in the Fuel Points program. More details and an intro to liquidity for newbies are in this article!
MIRA is an open-sourced and decentralized platform that matches three types of customers: traders, LPs, and protocols. MIRA will launch as a basic automated market maker (AMM) and will subsequently transition to ve(3,3). Its key difference from traditional DEXs will include bribes/incentive permissionless mechanisms for protocols to boost their liquidity.
Currently, we allow for token swaps on the Fuel Testnet, including BTC, ETH, and USDC. To connect to the platform, you can use any native Fuel wallet (like Fuelet), or Ethereum and Solana wallets.
Read more about MIRA protocol design and roadmap in our article.
In crypto, liquidity is the ability to buy or sell a token with minimal impact on its price. When a token pair has sufficient liquidity, you can trade it quickly and efficiently, even when trading volumes are high, without significant loss of value.
Liquidity pools allow DEXs to provide liquidity for swaps of token pairs like USDC/ETH, USDT/BTC, and more. They make it possible for people to trade tokens 24/7, even if there isn’t someone on the other side of the trade. These pools help keep low slippage meaning it makes prices stable, so you can swap one token for another whenever you want to. Trading becomes smoother!
People who provide their tokens to the platform by placing them into liquidity pools are called Liquidity Providers. In return for providing liquidity, they earn fees from each trade that happens and may also receive additional rewards like bribes in the upcoming ve(3,3) version of MIRA.
To add liquidity on MIRA, complete those easy steps:
Connect any Fuel, Ethereum, or Solana wallet to MIRA.
Click on the “Liquidity” tab.
Select a token pair with equal value on your available balance, ex. X $ETH = Y $USDT. Note that the testnet exchange rate on MIRA might be different from real prices.
Enter the needed value.
Click on the “Add liquidity” button.
If you don’t have enough tokens or have only one token available, you can get a testnet $ETH faucet - and swap it for any other token with MIRA help. If you don’t have a wallet, we recommend creating an account on Fuel with Fuelet.
Done! Now you’re a MIRA LP, don’t forget to withdraw your rewards from trading fees later on.
A whole new era of testing the MIRA app has just begun! We appreciate working with our early testers, as you help us improve the platform and prepare for the Fuel Mainnet 2024.
Enjoy trading on the Fuel Network with MIRA! If you have any questions, reach out to us on our Discord. Turn on our X account notifications so you don’t miss the latest updates!
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