Mirror Protocol (MIR) is a synthetic assets protocol built by Terraform Labs on the Terra blockchain. Its native token MIR has added almost a fifth to its value today. This article explains what it is, whether it’s worth buying, and where to buy it Protocol.
Top places to buy Mirror Protocol now
As MIR is such a new asset, it’s yet to be listed on major exchanges. You can still purchase MIR using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy MIR right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the Uniswap DEX
Head to Uniswap, and ‘connect’ your wallet to it.
4. You can now swap your ETH for MIR
Now that you’re connected, you’ll be able to swap for 100s of coins including MIR.
What is Mirror Protocol?
Mirror Protocol is a decentralized ecosystem, where token holders govern the on-chain treasury and code changes. Mirrored assets are blockchain tokens that behave like “mirror” versions of real-world assets by reflecting the exchange prices on-chain.
They give traders the 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.
Mirrored assets provide the advantages of fractional orders, global access, and order execution in almost real time. They allow global accessibility without entry barriers.
To execute a fractional order in traditional finance, you bundle several to execute a unitary transaction. The process of gathering all the orders into one requires additional waiting time.
With Mirror, orders volume is simply represented as a number on the blockchain, so there is no need for the intermediary bundling process.
Should I buy it today?
Take the time to read at least several price predictions. MIR is a volatile investment as its price can swing in an unpredictable direction.
MIR price prediction
Gov Capital’s one-year MIR forecast is $4.63, up from $1.54 at the moment. Price Prediction is less bullish, predicting an increase of the price of MIR to $1.83 this year. In 2023, they predict one MIR will trade for at least $2.67.
The price can reach a maximum of $3.24 that year. In 2024, it will be worth at least $3.68 according to the analyst. They expect the price of 1 MIR to reach at least $5.36 in 2025.
Mirror Protocol on social media
— unimpr3ss3d (@DochartaighLeon) February 17, 2022