I have a question regarding mAssets and why they seem to “evaporate” over time. I imagine I’m simply not understanding what I bought or maybe I don’t understand how farming works.
I admit I don’t fully understand the conversion process that happened here (where my 1.00831 mAAPL became 11.635774 mAAPL-UST LP), but regardless, on my Mirror finance page I noticed that the mAAPL that I supposedly own seems to be diminishing over time.
I started with 1.00831, but this morning I noticed the page was stating I only could withdraw 0.991911. Now, at the time of this writing, it’s down to 0.991088.
I was under the impression that purchasing an mAsset was simply like buying an equity. You bought it, you now own it. But, with the added benefit of being able to yield farm from it. Clearly, I don’t understand something.
Can someone help me better understand what exactly I’m doing by “staking” it to farm yield? Am I essentially relinquishing my shares to convert into MIR over time or something?
Thank you in advance.