Manual listing in Mirror

Hi all!

Mirror looks pretty powerful and it’s great to see that a few major stocks and trackers from the genesis phase are traded with good liquidity (much higher than, say, Synthetix). mETH can also help in terms of liquidity.

Perhaps it’s been asked already or it just sounds obvious to community-driven DeFi’ers. Why is the “listing” not fully automated? Manual listing via polls is not scalable, even if most voters reacted automatically. In general any asset for which reliable pricing may be fetched via Band/Chanlink should be automatically listable, all things being equal.

I have seen such a bottleneck with UMA too, where they have this whole “reference price id” thing which represents a bottleneck in pretty much the same way: so basically on UMA you may create contracts only for a few underlyings, mostly crypto and DeFi self-referential stuff.

Via IEX/Finage feeds (available on Band) you may already access reliable oracling for many many exchanges and their listed producs. Do you envision having the community go through each symbol one by one, and vote separately? In the genesis FAANG and a few others have been approved; in terms of stocks (volume, liquidity, cap. etc) they are equivalent to any S&P 500 constituent.

Isn’t this a potential limitation, seen that the stated mission is total synthetic access?

Thank you,

PS.: constructive answers only :slight_smile: I know “the protocol works like this”, but I am interested in the rationale and perspectives in general. Feel free to point me to related questions I might have missed.

I think it was because v1 was more about proof of concept. There is a plan for many more asset listings (and easier onboarding of new assets) in v2, but complete documentation around that hasn’t been released yet- only a high-level feature set.

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Is something automatically going to provide liquidity as well? Liquidity pools without liquidity can be dangerous for investors, and easily manipulated. I do think we need to be careful about which assets we list until we have infinite liquidity.

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Infinite liquidity is an interesting concept! Is it attainable? :smiley:

I would say Mirror can learn a lot from TraFi in this sense. It is true that liquidity pools are a very powerful way, but do not have to be the only way. Looking at ETFs for example, prices are kept in check by market making and more importantly authorized participation.

Think about token incentives for a net of decentralized APs to keep the prices in check: they get rewarded on a continuum of effort they take to have actual prices stick to the oracle ones. And chip in on the actual price discrepancies too.

So it is very important to facilitate arbitrage for such schemes to even work. The network might have privileged access as communicating vessels for such actors to have an easy time in doing this. Things like some fast access to the backing venues where the replicated assets are found, if traded.