You probably noticed that MIRA hasn’t had any upgrades since the Dino era. That’s because we’ve worked on rebuilding the entire app from scratch. Now it’s done. Polished. Upgraded. Juiced with a new design. Your new trading mainframe is officially live on Fuel.

In this article, exploring the latest changes and upcoming updates, our team will introduce you to our prehistoric project.

NOTE THAT DUE TO THE REBRAND, we’re changing our blog link and all the further posts will be published there:

https://mirror.xyz/0xBE101110E07430Cf585123864a55f51e53ABc339

> SYSTEM_LOGS

Some say we just added a fresh coat of retro-paint. Wrong. We rebuilt the entire reactor core. If you go to microchain.systems now, you’ll notice a few big changes as the app has been refactored.

>> Faster_estimation

When making a trade, our app needs to estimate the price by simulating the routing through pools and estimating gas costs. This used to take several seconds per trade, but through various optimizations and parallelization, we’ve been able to bring that down to under a second. This means faster trades and less friction for you as a user, making the trading experience smooth like a pteranodon.

>> Instant_swaps

We’ve also implemented Fuel’s new pre-confirmations, which significantly reduce the time for a transaction to execute. With Fuel’s high-performance VM, this might be some of the fastest swaps possible to achieve on an L2. It does feel good, the Dinos can assure you.

>> Polished_UI

We’ve gathered lots of feedback from users on UX that was making their lives harder. We’ve addressed a large portion of those issues, and the app is not much easier to use. This will be an iterative process that doesn’t end, but you should be able to notice changes by using the app today. You deserve to trade on a DEX that doesn’t feel like 1994... even if we love the retro vibes.

> REQUEST_FEEDBACK >> community_debugger.cafe

More dino hands, fewer bugs. That’s the law of evolution. That’s why we need your help stress-testing the DLM-2000 engine, so it will become truly seamless.

If you have found a bug, please fill in the form.

If you want to report feedback or simply talk about something that doesn’t fit into the bugs report format, like our communications and marketing strategy, our designs, etc, you can always reach out to us on Discord or X. Meet the crew:

• Derek (CEO / Dinosaur-in-Chief)

• Frank (CTO / Terminal Overlord)

• Brian (Intern / Debugger & Snack Ops)

Don’t shy away and reach out. We read everything. Even the memes.

> UPDATE_ROADMAP >> future_changelog.wip

However, the changes don’t stop there! There’s more code on the horizon…

Price impact of trades → Top priority. We’ve heard you loud and clear, and we need to improve the capital efficiency of the protocol. A big upgrade is coming within the next 30 days. We’ve been working on this issue for a few months. This will make swaps cheaper and give LPs even more ways of earning rewards.

Improving the liquidity point program → More logic. More rewards. More bite.

Token launch → Yes.

Ve(3,3) → Coming soon to a liquidity machine near you.

We’re building, optimizing, and occasionally breaking things on purpose.

>POINTS_PROGRAM_CONTINUED

The MIRA Liquidity Points Program is now the Microchain Liquidity Points Program. There’s no action needed from you if you’re one of the participants.

It’s just the interface change from the Dino team.

> FINAL_OUTPUT >> LAUNCH_STATUS: [SUCCESS]

Thank you to every single trader, builder, and Fuel-powered user who helped us reach this launch. We’ve come a long way from the early MIRA glitches. Now, we’re proud to power a smarter, sharper, dino-designed decentralized exchange.

Keep trading, keep testing, and don’t forget to feed your liquidity bots.

We'll see you at the DLM-2000, on our Discord and X.

RWRRAWWWRR,

The Dinos Team

(Derek, Frank, Brian)

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!

Rules

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.

Point Distribution Formula

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

Qualified Pools

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.

Summary

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

For the MIRA team, that’s the way to ensure that the pools that traders use the most have the deepest liquidity.

FUEL Boosts on MIRA: Rules & Details

A fixed amount of FUEL tokens will be allocated to selected liquidity pools and given out as an additional reward for LPs, on top of the trading fees they already earn. FUEL tokens will be distributed among LPs based on their percentage ownership of the pool just like swap fees. We call it a FUEL boost for a pool. FUEL boosts across pools vary. See the details in the table below.

Participants can track their earnings directly on the MIRA liquidity page after connecting their wallets. Allocated reward amounts will be updated regularly. Note that the rewards displayed in the app are estimates, and calculated using current indexing data.

At the end of the season, we will calculate the on-chain activity and distribute tokens in accordance with the rules outlined in this article. Since this data from our indexer isn't 100% exact, the final amount you receive may vary slightly from what’s shown in the UI.

Final rewards will be sent out to the participants’ wallets on the 8th of March.

How to participate and earn rewards with MIRA Boosts?

To participate, you will need to add liquidity to the boosted pools: USDC/ETH, USDT/USDC, and FUEL/ETH. If you already have liquidity in these pools when the campaign begins, you’ll automatically start earning rewards.

1. Go to the MIRA liquidity page.

2. Find currently boosted pools, they are highlighted in the MIRA interface like in the screenshot below.

3. Add liquidity to the chosen pool(s). For a step-by-step guide on adding liquidity on MIRA, check our blog post.

4. To track your total FUEL Boost rewards, connect your wallet and navigate to the upper section of the liquidity page.

Summary

Let’s start the spring right. Whether you’re an experienced LP or new to DeFi, the FUEL Boosts on MIRA is your opportunity to amplify your earnings and support liquidity growth within the Fuel ecosystem!

Any further campaigns will be announced on MIRA social networks. To stay informed, follow MIRA on X and join our Discord. If you have any questions about boosts on MIRA, don’t hesitate to reach out to our team on Discord.

As part of this initiative, we’re launching the UI Testers Program, the first step of our Points Program — our way of rewarding the most dedicated users and testers who help improve MIRA. This article will provide you with more details on it.

If you’re curious about the new team, you can read the latest update from our new founder, Derek, on X (formerly Twitter).

UI Testers Program Overview

MIRA is launching a program to find and fix front-end bugs in our app. Through the course of the week, participants will report various front-end bugs that they can find on MIRA and receive experience points (XP) based on the severity and originality of the bug as well as the report quality. A special Discord role as well as extra cash rewards are a bonus!

Note that these XP are not the same as the Points Program points, they will be proportionally recalculated and turned into the Points Program points later on, with the launch of the MIRA Points Program for liquidity providers.

At the end of the reporting period, our team will publish a leaderboard with the number of points earned by each participant. Based on the number of points, the 5-7 winners will be chosen after the competition ends. We will contact and add them to the group of testers on Telegram to work closer with the MIRA team for a limited period.

Duration: Thursday, 13 Feb, 6 PM UTC - Thursday, 27 Feb, 1 PM UTC

• The first valid report gets points, duplicates don’t count. Check the bugs that have already been reported in this public table.

• Only front-end bugs are included (UI/UX issues, broken elements, responsiveness, wallet connection issues, and unexpected behaviors). Smart contract or backend-related bugs are out of scope.

• You can conduct tests on all devices, browsers, and wallets.

• High-quality reports (clear steps, well-documented) may receive point bonuses.

Our team may contact you via Telegram or Discord if we have any additional questions regarding your report. Please be ready to cooperate. If we fail to reach you for the details during the competition period, the rewards (both points and additional dollar rewards) will be forfeited and the report will be disqualified.

Additional Rewards

Apart from the point rewards, additional rewards will be sent out to:

• The most active tester: Extra $100 for the contributor who submitted the biggest number of valid bugs.

• The most impactful tester: Extra $100 for the contributor who found the bug that influenced the experience of the bigger number of users.

• The best report: Extra $50 for the most well-documented bug report.

Check the rewards you earned on the leaderboard at the end of the program. The rewards will be sent out 2 weeks after the end of the competition.

How to Participate?

Submit all bug reports via this Notion form. Note, before submitting, check the bugs that have already been reported in this public table.

For a report to be valid, it must fill up all the fields in the form, including:

1. A simple, clear title for the found bug (e.g., "Button overlaps text on mobile");

2. Step-by-step reproduction instructions;

3. Jam.Dev recording link is mandatory for medium, high, and critical bugs;

4. Browser, device, and wallet used information;

5. Your contact information and a valid wallet address where we can send rewards.

Ideas: What can you test?

• Connect & disconnect a few different wallets

• Add & remove liquidity to an existing pool

• Check LP Positions

• Create a liquidity pool

• Swap in an existing pool with high/low liquidity

• Experiment with numbers, devices & browsers

Wishing you luck!

Disqualification

• Reporting issues outside of the stated scope.

• Failing to provide a Jam.Dev recording for medium, high, and critical bugs.

• Failure to provide clear reproduction steps.

• Submitting invalid, duplicate, or low-effort reports repeatedly.

Summary

We’re excited to launch this program and kick off the new era of development on MIRA. Start testing now and help us make MIRA the best trading experience on Fuel! This campaign is your unique chance to work closely with the team.

For any questions regarding the MIRA team change or the UI Testers Program, please contact our team on Discord.

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 Fuel team, we are thrilled to introduce FUEL Boosts on MIRA. This is a great opportunity for MIRA liquidity providers (LPs) to earn additional FUEL tokens while contributing to the ecosystem’s growth.

Fuel Season 1 Overview

Fuel Season 1 will run for 45 days, starting January 15th. Throughout the program, up to 150,000,000 FUEL will be distributed across various Fuel DeFi dApps, including MIRA, to incentivize liquidity on FUEL and encourage increased user engagement and activity. MIRA and other dapps will launch their own programs for users with the allocated FUEL tokens as rewards for participants. FUEL Boosts on MIRA is one of these initiatives.

Learn more about the FS-1 program on the official Fuel Blog:

https://fuel.mirror.xyz/WbftLFQtWPaMZsQIgB-hMCPuma6iFjWgKGiu1DONUI4

FUEL Boosts on MIRA: Rules & Details

Starting on the 15th of Jan 8 PM CET, MIRA will be issuing 4,275,000 FUEL tokens as part of Season 1 to ensure that the pools that traders use the most have the deepest liquidity.

A fixed amount of FUEL tokens will be allocated to selected liquidity pools and given out as an additional reward for LPs, on top of the trading fees they already earn. FUEL tokens will be distributed among LPs based on their percentage ownership of the pool just like swap fees. We call it a FUEL boost for a pool. FUEL boosts across pools may vary.

Our team can reconsider the pools to boost and FUEL boost amounts for each pool every 2 weeks. The changes will be announced on social networks, and this blog post will be updated. To stay informed, follow MIRA on X and join our Discord.

See the details of the FUEL Boosts on MIRA in the table below.

The rewards in the list above are the starting rewards for the announced pools.

Participants can track their earnings directly on the MIRA liquidity page after connecting their wallets. Allocated reward amounts will be updated regularly. Note that the rewards displayed in the app are estimates, and calculated using current indexing data.

At the end of the season, we will calculate the on-chain activity and distribute tokens in accordance with the rules outlined in this article. Since this data from our indexer isn't 100% exact, the final amount you receive may vary slightly from what’s shown in the UI.

Final rewards will be sent out to the participants’ wallets at the end of FS-1, on the 1st of March.

How to participate and earn rewards with MIRA Boosts?

To participate, you will need to add liquidity to the boosted pools during FS-1. If you already have liquidity in these pools when FS-1 begins, you’ll automatically start earning rewards.

1. Go to the MIRA liquidity page.

2. Find currently boosted pools, they are highlighted in the MIRA interface like in the screenshot below.

3. Add liquidity to the chosen pool(s). For a step-by-step guide on adding liquidity on MIRA, check our blog post.

4. To track your total FUEL Boost rewards, connect your wallet and navigate to the upper section of the liquidity page.

Summary

We’re excited to kick off 2025 with this incredible initiative to reward MIRA LPs. Whether you’re an experienced LP or new to DeFi, the FUEL Boosts on MIRA is your opportunity to amplify your earnings and support growth within the Fuel ecosystem!

If you have any questions about FS-1 on MIRA, don’t hesitate to reach out to our team on Discord.

Ordinary users get more assets to trade while liquidity providers can easily bootstrap their liquidity on Fuel by creating pools on Mira permissionlessly. With this feature, we expect more liquidity and trading growth on MIRA and Fuel in general.

What are liquidity pools?

Liquidity pools are smart-contract-based reserves of tokens that allow decentralized exchanges (DEXs) to facilitate automated trading without needing traditional order books. They make it possible for people to trade tokens 24/7, even if there isn’t someone on the other side of the trade. Trading becomes smoother!

Liquidity providers (LPs) deposit pairs of tokens into these pools in equal value. For example, for an ETH/USDC pool, LPs would need to deposit $500 worth of ETH and $500 worth of USDC. In return for liquidity, LPs earn a portion of the trading fees from that pool. Additional rewards from the other on-chain projects are possible, they are called bribes.

Currently, MIRA offers two types of pools for its users:

• Stable pools are designed for tokens that have little to no volatility, precisely, for stablecoin pairs (eg., $USDT and $USDC) or assets that correlate closely in price (eg. $ETH and $rstETH). Since the LP risk is low, the fees collected by LPs are 0.05%.

• Volatile pools are designed for tokens with high price volatility (eg. $ETH and $BTC). Since LPs take on more risk, the fee tier is 0.3%.

You can learn to add liquidity to MIRA pools here.

Why make them permissionless?

"Permissionless" liquidity pools mean that anyone can create a pool on the MIRA platform without the MIRA team's approval. This openness empowers developers and users to launch tokens, provide liquidity, and participate in the ecosystem seamlessly. It fosters innovation, as any project can integrate liquidity mechanisms, and decentralization, as no central entity controls the process.

How can you add a liquidity pool on MIRA permissionlessly?

1. Visit https://mira.ly/ and click on the "Liquidity" tab in the upper menu. OR open the link directly https://mira.ly/liquidity/.

2. Connect your wallet. Currently, Fuel has three native wallets and supports both ETH and Solana Wallets.

3. Click on the "Create a pool" button in the upper right corner of the liquidity pools window.

4. Choose a type of pool you'd love to create. Click on "Stable" for stablecoin pairs (eg., $USDT and $USDC) or an asset and its wrapped version (eg. $ETH and $rstETH). Otherwise, choose "Volatile". Note that you won't be able to change it afterward.

5. Next, you need to choose assets that you want to add to the pool. You need to have both these assets on your wallet balance to create a pool with them. To do it, click on the arrow next to the empty field - and choose an asset from the dropdown list. If the needed asset is not available on the list, fill in the asset ID. You can find asset IDs on Fuel Network here.

6. Now you need to set up an exchange rate for the chosen tokens: fill in the amount of the asset X you think is reasonable to exchange for the asset Y. Note, that the pool ratio on MIRA is always 50/50. When you create a pool, the stated amounts of both tokens will be withdrawn from your balance.

7. Click the "Preview creation" button below to proceed.

8. Preview the transaction. If everything is correct, click the "Create pool" button below.

9. Your wallet will pop up. Carefully check the transaction details and approve the transaction in your wallet.

10. Congrats! You've created your first pool on Fuel.

After you create a pool, you can go back to the liquidity page to see it in the list of your liquidity positions and the list of pools below. The tokens that you added to the pools, can now also be swapped on MIRA! You can check it on the swap page: https://mira.ly/swap/

Final Note

Permissionless pools make MIRA more flexible and decentralized - and our UI makes it easy for you to become an LP on Fuel!

If you have any questions, please contact the MIRA team on Discord. For faster assistance with tech issues, please contact us directly at our official email: hi@mira.ly.

On 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 transparency around the operation of the protocol.

Timeline

Oct 19 (9:00–15:00 UTC+0): The Mira team identifies a sharp drop in TVL overnight and investigates alongside Ottersec and other collaborators. Data queries confirm multiple large withdrawals, including one whale removing approximately $1.2M. A surge in trading activity is also observed, and further analysis reveals that the sDAI/USDC pool has fewer assets remaining than what was withdrawn, confirming that a bug must exist in the code.

Oct 19 (15:00–16:00 UTC+0): Mitchell from Immunefi is brought in to lead the war room operations to organize our efforts. A pause hooksmart contract is immediately deployed to pause swaps and deposits to ensure all funds are safe while a more long-term fix is implemented. The analysis begins to determine the issue's root cause, the full impact, and possible longer-term solutions.

Oct 19 (16:00–18:00 UTC+0): Two bugs are identified as the root cause:

1. An invariant calculation bug in the main singleton contract for pools.

2. A decimal mismatch bug in one of the scripts.

Work starts on deploying a hook to enforce proper invariant checks and rewriting the scripts to resolve the decimal mismatch issue.

Oct 20: A new hook smart contract is deployed to verify and enforce invariant checks for all trades, ensuring mathematical guarantees without requiring user action. Fully securing contracts and mitigating the vulnerability.

Oct 21-23: The swap script is updated to handle token decimal mismatches, resolving the specific issue that drained the sDAI/USDC pool. Follow-up reviews of the full code base are conducted by Mira and Ottersec to confirm the security and identify any follow-on impacts.

Oct 23 (15:30 UTC+0): Swaps and deposits are unpaused, and normal operation resumes.

Oct 25: All affected users are refunded in full.

Root cause analysis

After investigating the contracts with the help of Ottersec, it became clear that there were two bugs that caused traders to withdraw more funds than intended.

Invariant calculation bug

Mira uses a singleton contract model where all liquidity pools share the same smart contract (similar to Uniswap V4), as opposed to more traditional AMM architectures where each pool has its own smart contract.

This singleton architecture led to a bug being introduced in the codebase. Instead of reading the balance of tokens for a specific pool, the contract reads the total balance of the given asset in the singleton contract. This incorrect value was used for the invariant check in the swap function.

This error allowed users to withdraw more tokens than they were entitled to during a swap, bypassing the intended mathematical guarantees (invariants) of the DEX. The issue affected all pools in the protocol, making them vulnerable to potential exploitation.

Decimal mismatch bug

The swap script, which calculates output token amounts during swaps, had a bug in the decimal calculation for swapping stable-pair assets. For example, USDC uses 6 decimals, while sDai on Fuel uses 9 decimals. The script misinterpreted these differences, leading it to request more assets than were actually required for the swap. This mismatch only affected the sDAI/USDC pool, since it was the only pool that both used the stable-swap invariant and had assets with different amounts of decimals. This bug leads users to request excessive tokens, inadvertently taking tokens that belo.

Combined effect

The Invariant Calculation Bug caused the system to operate on incorrect assumptions about pool balances, creating a vulnerability across all pools. However, this issue might have gone unnoticed for much longer if not for the Decimal Mismatch Bug.

The mismatch caused traders of a specific pool (sDAI/USDC) to request excessive tokens, which unintentionally drained that pool. While the rest of the pools remained unaffected because the front-end logic adhered to intended token request amounts, the decimal bug effectively surfaced the deeper invariant issue.

This early detection ensured the invariant bug was identified and fixed before it could be maliciously exploited by a blackhat.

Impact

The resulting impact of the bugs was that ~$68k in assets inadvertently was given to traders, which belonged to a handful of liquidity providers. As well as downtime of the core functionality for about 3 days while the fixes were being implemented.

Resolution

To address the vulnerabilities and ensure the safety of user funds, we took the following actions:

Immediate Mitigation: Pausing Functionality

As soon as the issues were identified, we deployed a pause hook for the swap and deposit functionality across the protocol. This swift action ensured LPs didn’t lose any more funds while we worked on implementing permanent fixes.

While the Mira contract itself does not have a pause functionality, we were able to pause the contract using the “hook” functionality (described below).

Fixing the Invariant Bug via Contract Hook

Mira was designed to prioritize decentralization, with an immutable, non-upgradable smart contract (similar to Uniswap). However, a “hook” feature was included to enable future feature additions without allowing the protocol to become custodial. This feature ended up proving critical in resolving the issue.

A new hook smart contract was created to verify every trade in the protocol. This hook implemented logic to correctly check the invariant after each swap. This ensured that all swaps adhered to proper mathematical guarantees going forward. Leveraging the hook allowed us to address the issue without redeploying the core contract, averting the need for any action on the part of users.

Fixing the Decimal Mismatch Bug via Script Update

The swap script, embedded in the front end, was updated to handle token decimal mismatches correctly. Because scripts are not deployed on-chain, we were able to quickly push this fix via the front end, resolving the specific issue that caused traders to be overpaid in the sDai/USDC pool.

User Refunds

To uphold trust and fairness, we fully refunded all affected users within 6 days of the incident. This ensured that no user suffered any financial loss as a result of the bugs, reinforcing our commitment to user security and satisfaction.

The biggest LPs were contacted and paid directly, while there was a long tail of smaller LPs which likely never noticed the issue and were refunded by receiving LP tokens directly to their wallets.

Acknowledgments

We want to give out a special thanks to the following individuals for their crucial contributions during this incident:

• Mitchell Amador, CEO of Immunefi (leading on-chain audit and bug bounty platform), for providing expert guidance and support leading the war room operations and helping us focus our efforts during a stressful time.

• Robert Chen, CEO of OtterSec, and James Wang, Security Researcher at OtterSec, for their thorough analysis, timely assistance, and support in identifying and addressing the root cause of the bugs.

We want to thank the community and our users for their patience during this time. Security incidents are an inherent risk when building on innovative technology, but with skilled teams and a committed community, issues can be identified and resolved before they lead to exploitation.

By sharing findings and encouraging open dialogue, we help the entire ecosystem learn and strengthen its defenses.

For any questions about this incident or if you are in need of support, reach out to hi@mira.ly and we’ll get back to you shortly.

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!

What is MIRA?

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.

What is Liquidity? Why is it Important to DEXs?

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!

Why Provide Liquidity to DEXs?

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.

Become a MIRA Liquidity Provider

To add liquidity on MIRA, complete those easy steps:

1. Connect any Fuel, Ethereum, or Solana wallet to MIRA.

2. Click on the “Liquidity” tab.

3. 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.

4. Enter the needed value.

5. 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.

Summary

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!

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 include bribes/incentive permissionless mechanisms for protocols to boost their liquidity.

This article provides more information on Fuel, the Fuel Points Program, and MIRA’s protocol mechanics and roadmap. Enjoy!

Building on Fuel

To revolutionize global finance, we need blockchains that can scale efficiently while maintaining strong performance and security. Low latency and high throughput are a must!

Fuel fits this profile perfectly. It tackles the key challenges that Web3 developers face today, including performance, scalability, interoperability, and state management. Fuel also enhances Ethereum’s capabilities by using UTXO-based parallel execution, which boosts efficiency and transaction speed, similar to what Solana offers, but with Ethereum’s liquidity. And now with $270 million TVL!

Participate in the Fuel Points Program Phase 2 with MIRA

Fuel Network has announced the Points Program Phase 2. MIRA is one of the key Fuel dapps where you can earn points. MIRA is audited by top-tier crypto security firms. Here’s all you need to know:

Activity Points are the most effective way to earn Fuel points. Get points for every $ value deployed into a qualifying dapp. Interacting with Fuel apps is the best way to earn points in Phase 2. Activity Points earn a higher points multiplier than Passive and Gas Points. To earn Activity Points on MIRA:

• Provide liquidity

• Swap tokens

Currently, $USDC, $USDT, and $ETH earn 2x points multipliers.

Gas Points. For every $ value you spend on gas fees, you’ll earn 5 points. You can check your gas fees for every transaction you are about to complete on MIRA.

A bonus: 1.25x Loyalty Multiplier. Phase 1 Participants get a multiplier on both Activity and Gas Points for the first 45 days after the mainnet launch. Bridge funds ASAP to benefit from the multiplier more.

Note that the amount of points earned for certain actions as well as multipliers are subject to change! Check the updates and announcements on the official Fuel X account. Please address questions about the Fuel Points Program on their official Discord.

Protocol Design

Currently, we allow for token swaps on the Fuel, including BTC, ETH, and USDC. To connect to the platform, you can use any native Fuel wallet (like Fuelet), or Ethereum and Solana wallets.

You can also become our liquidity provider. The next version of MIRA will operate as the ve(3,3) protocol, a model for decentralized exchanges (DEXs) that operates as the best of Uniswap, Convex, and Curve.

The ve(3,3) idea is to direct incentives to the pools that are most valuable to the ecosystem. It encourages cooperative behavior by aligning incentives across liquidity providers, token holders, and governance participants. This system as a whole helps ensure that rewards flow to the most important and active parts of the MIRA and Fuel ecosystem.

Our Roadmap

On the Fuel mainnet 2024, MIRA will be launched as a basic AMM with swaps and liquidity pools. Shortly after the launch, we will introduce the MIRA Points Program to encourage users to engage with our platform and reward liquidity providers. A governance system and vote-escrow tokens will be gradually presented afterward.

What’s Next

We’ll share more details about the MIRA Point’s program, tokenomics, rewards, and more soon! Stay tuned on our X not to miss the updates. If you would like to contribute to the discussion on the further MIRA development please join our Discord.