Mirror is part of a larger whole. By working together with the rest of the ecosystem we can create value and synergy for all platforms involved.
Adding more users and mirrored assets to the platform dilutes the Mirror rewards of existing pools in absolute numbers. But it increases the value of the protocol, which is exactly what we need (and as a bonus could increase the value of the Mirror token).
We, as governing DAO, are here to add more mAssets, improve Mirrors’ tocenomics, and spread the word within other communities.
Increasing Users, Use Cases, and Total Value Locked is essential, because it helps the protocol expand, grow, and mature into the biggest broker in the world.
As Do Kwon said: Mirror is intended to Mirror ALL tokenizable assets in the world.
If so, why did we vote to exclude Mirrors grandfather - Atom? And why don’t we have Mirrors mother - Luna on the platform?
Adding these tokens would add a lot of value to the community in the “standard” Mirror way:
- Increasing liquidity for the assets involved,
- Driving usage and TVL of Mirror,
- Driving demand for UST,
Asides from this “standard” synergy, there are really cool strategic advantages to be realized for the Atom-Luna-Mirror community. By adding Atom & Luna, our community could:
- Secure profits without selling when Atom or Luna is peaking
- You simply open a short farm, and are no longer exposed to price movements.
- This way you don’t have to give up on your long-term investment, but can temporarily “leave” the market when it’s too hot to handle.
Moreover, it opens up a completely new use case and business model on the Mirror platform:
- Cross-Chain Delta Neutral Farming
- As the returns (especially on Atom) outside of Mirror are high, you would short farm on Mirror, long farm somewhere else. Everyone in the Atom community could pause their exposure to price movements whenever they want, and earn high interest rates in the meantime, by using the Mirror protocol.
When a protocol adds a lot of benefit to specific communities, these communities start to explore, use, and write about the protocol.
In a way, adding Atom and Luna to Mirror can be seen as a form of “growth-hacker marketing”. It will give us a lot of exposure within communities that are practically already family.
Let’s incentivize our family to merge with our community, and create synergy for all.
I’d love to hear your suggestions and/or iterations on this proposal.