Hi . I am one of the short term arbitrage traders.
Arbitrage, in case you are not already aware, is the reason that the mAssets track and “mirror” the underlying stock price. Arbitrage traders make sure that the mAsset tracks the underlying stock as closely as possible. It ensures accuracy.
However: Round trip commission slippage is more than 0.6%. To settle the 1% arbitrage, traders can only yield 0.4% MAX. Then there’s taxes too. So it’s even less.
111 is 3x leverage which allows short term traders make 3% off 1%. It is game changing for people like me.
Voting for 111 is the only way short term arbitragers like me could possibly make money off of MIRROR currently, there is no way to daytrade arbitrage mirror. It’s simply not profitable. No incentive. But the thing is, and the reason why this is so important, is that it us, the Daytraders who settle the arbitrage and ensure that the mAsset tracks and “mirrors” the underlying stock if u lose the arb traders, u lose the MIRROR protocol altogether (since the price would no longer be accurate)
let me repeat
Currently this entire protocol is only profitable if you “Farm” and “Provide Liquidity”. Three quarters of all MIRROR users just Farm. WE need more short term options for the arb traders. if you lose the arb traders, MIRROR will fail as a protocol (since prices would no longer follow the stock, it would no longer ‘mirror’ the stock in other words)
It is of upmost importance that we vote for Mirror in order to incentivize short term trading.
please I beg you to vote for this 111. I really really really really really really want this mAsset to be added so much. Please please please please. You would be helping yourself too!