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View ChartMirror Protocol is a synthetic assets protocol built by Terraform Labs (TFL) on the Terra blockchain. It enables the creation and trading of synthetic assets known as mirrored assets, or mAssets, which are blockchain tokens designed to mirror the exchange prices of real-world assets on-chain. MIR is the governance token of the protocol and is an ERC20 token running on the Ethereum blockchain. The protocol was launched on December 4, 2020, and is described as decentralized from day one, with its on-chain treasury and code changes governed by MIR holders. The total maximum inventory is 370,575,000 MIR tokens, released over a four-year period, with a circulating supply of approximately 77.74 million MIR. The protocol reflects the price of other products, meaning the value of a synthetic token cannot be individually influenced by supply and demand. Mirror Protocol gives crypto traders access to traditional financial assets through smart contracts that allow users to mint tokenized assets.
Mirror Protocol was founded by Do Kwon and the team at Terraform Labs. Do Kwon is the co-founder and CEO of Terra and is named as a founder of Mirror Protocol. Terraform Labs is the company behind Mirror Protocol and is also the developer of the Terra blockchain and the LUNA token. Terra was founded in 2018 by Daniel Shin and Do Kwon. Core team members named in an AMA announcement include Stanford Liu and Joe Lim, who took part in a live AMA on Discord. TFL has stated it has no intention of keeping or selling MIR tokens, and there are no admin keys or special access privileges granted, reflecting an intent to be a completely decentralized, community-driven project.
Mirror Protocol runs on Terra's blockchain, while MIR itself is an ERC20 token on Ethereum. Users can create an mAsset from their own wallet. Before creating an mAsset, collateral must be specified, and the collateral must be 150% of the value of the underlying product at the time of creation. Users can use TerraUSD, Terra's stablecoin, or other mAssets as collateral. Even though the token price follows the price of another product, actual collateral must still be provided. Off-chain data, such as prices of financial products maintained on central systems, needs to be converted to on-chain data. The values of the products are retrieved with Band Protocol, blockchain oracles that provide updates on the price every 30 seconds. Mirror relies on liquidity provided by each individual asset pool, and orders can be executed as fast as the blocktime of the network, approximately 6 seconds. Users can create or purchase mAssets within Mirror Protocol's web application after connecting an external Terra-wallet.
Mirror Protocol offers several distinctive advantages. Global accessibility is a key feature, as in most markets outside of Europe and North America, access to foreign equities and forex markets is highly limited, while crypto allows global accessibility without entry barriers. Fractional orders are another advantage; in traditional finance, executing a fractional order requires multiple fractional orders to be bundled together, which requires additional waiting time, whereas by utilizing the blockchain, order volume is simply represented as a number on the blockchain, eliminating the intermediary bundling process. Nearly instantaneous order execution is possible because Mirror relies on liquidity provided by each individual asset pool, allowing orders to be executed as fast as the blocktime of the network, approximately 6 seconds. A synthetic token is compared to the crypto or blockchain version of an ETF. Mirrored assets give traders price exposure to real assets while enabling fractional ownership, open access, and censorship resistance as any other cryptocurrency. Unlike traditional tokens which serve to represent a real underlying asset, mAssets are purely synthetic and only capture the price movement of the corresponding asset.
MIR serves multiple purposes within the ecosystem. It is used for governance, giving holders voting rights to help decide the future of Mirror Protocol. It is used for staking, allowing holders to lock in tokens to receive interest. It is also used for transaction fees, paying for the use of Mirror Protocol. MIR's value is derived from the protocol. For users, the protocol enables investing or speculating on the price of physical or financial products without actually purchasing these products, such as investing in gold by buying a synthetic token linked to the price of gold, which is easier and cheaper than buying a physical gold bar. Users can also invest in multiple markets without having to create different accounts; normally one would need a stockbroker account to buy stocks and bonds, while Mirror Protocol allows speculating on the price of a stock or bond within a crypto wallet. mAssets are synthetic tokens that track and represent the prices of physical or financial products such as gold, mortgage, artwork, or stock, and the value of the token is always equal to the value of the product it tracks.
The Mirror Protocol ecosystem includes mAssets, collateral assets, oracle integration, and partnerships. Collateral assets include TerraUSD, Terra's stablecoin, or other mAssets. Band Protocol provides price updates every 30 seconds. In January 2021, Mirror Protocol announced a critical partnership with UniLend, a decentralised money market protocol. The web application allows users to create or purchase mAssets after connecting an external Terra-wallet. A mobile app, @Mirror_Wallet, is also available. However, the protocol permanently ceased price feed support for Terra Classic, including Mirror Protocol, at 5AM UTC on August 26th, 2022. Ever since the Terra collapse, several cryptos developed by Terraform Labs witnessed substantial losses, and as a Terra-based protocol, MIR has struggled since the LUNA crash. CoinMarketCap tags Mirror Protocol under Alleged SEC Securities. MIR is down -99.99% from its all-time high of $12.86 on April 10, 2021.
MIR is not mined through traditional proof-of-work mining. Instead, MIR tokens are released over a four-year period according to the tokenomics plan. Inflation of MIR is tightly controlled by its tokenomics and is expected to decrease to approximately 15% over the course of the four-year plan. Token holders can participate in staking, which involves locking in MIR to receive interest. Staking is one of the primary token utilities alongside governance and transaction fees. The protocol is decentralized from day one, with the on-chain treasury and code changes governed by holders of the MIR token. There are no admin keys or special access privileges granted. Users who wish to acquire MIR can do so through various trading venues where the token is listed, with MIR currently trading on 120 active markets. MIR can also be swapped via decentralized products in some ecosystems.
Keeping MIR safe requires attention to both custody and protocol risks. Since MIR is an ERC20 token on Ethereum, it can be stored in wallets that support ERC20 tokens, and users should verify contract details when interacting with the token. The contract address is listed on CoinMarketCap and explorers such as etherscan.io can be used to verify transactions. Users should be aware that crypto is highly volatile and prices can move sharply in either direction. The protocol permanently ceased price feed support for Terra Classic, including Mirror Protocol, at 5AM UTC on August 26th, 2022, which is a significant operational consideration. CoinMarketCap tags Mirror Protocol under Alleged SEC Securities, indicating regulatory attention. MIR is down -99.99% from its all-time high, reflecting substantial market risk. Users should use official channels, including the official website at https://mirror.finance and documentation at https://docs.mirror.finance, and should be cautious of unofficial sources. Self-custody solutions and hardware wallets are commonly used for securing ERC20 tokens, and users should never share private keys or seed phrases.
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Thank you for your interest in BTCC. Currently, spot and futures trading services for MIR are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
As of right now, the live price of Mirror Protocol (MIR) is $0.000774. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated MIR to USD rate at the top of BTCC’s price page. In terms of market scope, Mirror Protocol records a 24h trading volume of $164.574995 (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $61.50127K. Its current circulating supply stands at 77.74M out of a maximum supply cap of ∞.
The price volatility of Mirror Protocol (MIR) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (77.74M) to max supply (∞), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, Mirror Protocol (MIR) hit an all-time high (ATH) of $12.864458 on 2021-04-10 01:45, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at -- on 2020-12-04 06:25. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading MIR futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($164.574995), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s MIRUSDT perpetual contracts support two-way trading. If you anticipate a price decline for Mirror Protocol, simply log into your BTCC account with USDT margin available, navigate to the MIRUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for MIRUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $0.000774), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for MIRUSDT with zero financial risk.
Trading Mirror Protocol (MIR) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for MIRUSDT, and review its live price ($0.000774) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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