A collection of value-building ideas for Mirror v3

The devs have put out the feelers for suggestions, so I thought I would pool what I think are the most relevant and important features to add to our prized gem, Mirror.

Some of these have been posted about before, but I will give my rendition here.

1. Collections of collateral:
Of course a no-brainer. Make it possible to join some Luna and mEth as collateral, or ANC and MIR together, to mint a single kind of asset. This builds out Mirrors flexibility and allows for easier portfolio management.

2. UI manipulation:
There are already some ways to change the display settings, but we need to zero in on the relevant trading information.
2a. On the trading page, I should be able to see oracle price and swap price. % difference is okay but working with the actual numbers makes life easier.
2b. Sorting by Premium, Volume, 24hr % change, all with simple clicks, would help smooth over the UI.

3. Categories for mAssets:
Categorizing the different mAssets will stop the Trade window from becoming a long, difficult list.
Differentiating between Funds, Crypto, Metals, etc. would be beautiful. A simple collection of categories that drop-down the list of assets when clicked would work.

4. MIR token value-accrual:

It’s already been noted that volume for mAssets on other chains is abysmal. The true stage for mAssets is within Terra of course, within farms and sometimes for traders to move into different, non-crypto strategies.
It may be necessary to accept that Stocks and ETF’s in general are less popular than volatile crypto, or even meme-stocks.

This will eventually be counteracted by bringing in seriously desirable assets. This is something that will have to be decided and consented to by the community - Everyone has a different opinion on what will be important to trade.
For myself, I would like to see mineral miner stocks, semi-conductor and tech fabrication stocks, with a healthy collection of big data and green energy - but I don’t expect the community to automatically implement those things.

However, an important phenomenon within crypto that we can observe is the explosion of small exchanges based on the fact they offer trading for rare assets. Ex: Kucoin burst to stardom simply for their selection of hard to find ERC-20’s, which were too expensive to Uniswap. Hoo currently is pulling in volume since their diversity is astounding and they have some new legit coins. (Offering deposits from almost all chains)

If Mirror is to bring in this sort of demand, we will have to look in between the lines for these assets. Look towards the economies that are rebounding, what are they producing, what is being demanded on a global scale?

5. MIR as Gas
Many people suggest simple algorithms placed into the protocol somewhere as a solution to the price degradation, and while I agree with some of these, it’s hard to see that as a long-term fix.
Since we’re an exchange, and we deal with niche assets you can’t find anywhere else in blockchain land, we really should be using our own token as gas, and potentially have a burning mechanism.

I will leave the math to the professionals, but making it normal to have to hold some MIR to pay for transactions, minting, etc. would bring in a new dimension to the coin. Burning a small % of those fees would help with MIR inflation.

MIR was meant to bootstrap liquidity, bring it in so people could actually buy and sell within these markets.

The next stage of that plan should involve a deflationary aspect with a utility-based mindset.

Hope this spurs some good thoughts !


2b. Totally agree- it’s so simple, yet no one has implemented it already.
3. Fully agree as well
4. Probably one of the main issues with MIR and its TVL is the fact that most of its assets are stocks. In a bull market ( that we like to believe we are in) most retail investors and even institutions will invest in crypto assets. Even if the likes of Tesla or ARK Etf have done very well in the last 12 months, it’s nothing compared to even ETH, let alone Luna, Cardano, etc. What Mirror has to do is first of all emulate most of the things that made Robinhood such a success and improve those, taking advantage of the crypto space innovation rate. And by the way, HOW CAN MODERNA NOT BE LISTED ALREADY ON MIRROR ? The only way I can buy ( and I have a European residence) is on bloody Revolut with ridiculous fees. Whatever your position on vaccination, it’s one of the biggest and best researched new technology vaccines out there and it’s going to jab the rest of the world soon.

What about also being able to send / receive mAssets among those who own Mirror as a token ?!


Encourage people to build various front end in different languages.
Mirror allows everyone to trade mirrored equities from US stock market. But most people who could’t get access to US stocks are not English speaker. They could be benefited the most from Mirror’s synthetic mechanism. And they should be Mirror’s prior target users.

Good points here.

  1. I’m not sure how I feel about this. It’s definitely worth thinking through the possible added value it will bring in TLV vs the complexity, possible destabilizing effects ( if any) and cost to build.

2-3. No brainer - :100: :raised_hands:

  1. I think we need more listing proposals for ETFs and popular stocks. Community needs to get more engaged I include myself in that since I haven’t even proposed anything yet officially.

  2. Good thought here. I’ll wait to hear what other ppl say before making an opinion on this… But generally, i don’t see why you shouldn’t be able to pay in Luna, MIR or any other terra currency.

Lastly, I know right after V2 came out tfl had a V3 map. So it’s possible though it’s already in the works for some of us UI stuff? Really need TFL on here more to let us know that they are working on. I’m working on trying to do the with ANC. Here will be next.

These are good thoughts. But for #5, there is an infrastructural dependency on Terra blockchain, which accepts gas only in native tokens such as Luna, UST, KRT and so on. But should definitely find ways to increase the utility of the MIR token within the protocol.