Change the way we list mAsset

There are many questions regarding to the slow or no response from Mirror user to vote on whitelisting assets. This is basically because generally people are not interested in which asset to list, there is a thread saying that more asset, LP awards would be diluted which create disincentives to existing LP participants to vote. Since more eX is listing $MIR, I believe there will be more $MIR holders staying out of Mirror System, it makes each listing proposal harder to reach the quorum.

I suggest to fundamentally change the way we whitelist asset. My proposal is to let people mint the assets they are interested to list in mirror (using Oracle price) and list them in the queuing pool for more people to mint and join (all of them earn Anchor 20% while in the queue). Once the pool of mAsset reach a certain threshold (more than 1m), then it get listed in Mirror.

The minter will get back their proportional value of the actual asset price while it was white-listed into Mirror protocol. for eg, I am keen in Tencent stock at HKD 620, UST:80. So, I minted 1 Tencent and park in the queue. Once a threshold is met (maybe 1m UST), Tencent stock is whitelisted with starting price of UST:100. I get about (80+20%APY) /100 of Tencent stock when it is listed in Mirror protocol.

This will enormously help to assess the interest of each asset (be it a Russian equity or Turkish equity). As long as there is interest from the community, we can then white-list it.

Ah I replied to this in the other thread where you had this as a comment. Basically, I think this makes sense because LPers are incentivized to provide liquidity to things people will want to trade, so interests seem aligned.

Also, potential LPers aren’t necessarily sticking a lot of Mirror into governance. Someone with deep pockets could come along, 0 mirror tokens in hand, and as it stands right now they wouldn’t be able to provide liquidity for what they want.

Hi, the main issue I see is nobody knows what assets people would like trade. When I said people, I am talking about general people, people who don’t know crypto the way we know.
So, Mirror is a platform for them to trade synthetic asset without going through the stock exchange. So, with the current mechanism to asking $MIR holders to vote is like getting a group of soccer players to kick the balls, while all balls are indifferent to them. The alignment of interests lies with $MIR holders knowing what the level interest and the incentive. The incentive for them is to see more trading volume, and the level of interest of whatever assets become indifferent to them as they have no prior knowledge of them. That is why we constantly see so many seeming good assets not passing the quorum as they are indifferent to them.

I understand that mirror v2 is to pass incentive to those who voted. If LP benefit outweigh the voting incentive, the majority of people (who do care about Mirror) will not risk their LP benefit to vote an asset that they think might not pass the quorum. That is why I have put up my idea to get people attention to my suggestion.

I hope that I am being constructive as I really like Mirror to succeed!

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