Please please I beg of all of you to vote for proposal 111

Hi :grinning:. 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. :sob:

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) :skull:

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!

https://terra.mirror.finance/gov/poll/111

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I agree with you. I am a big equities investor and do believe if trading is not promoted that the platform will die. It will essentially just consume itself from farmers.

That being said I haven’t heard of this ETF. I did vote yes after researching. I think something with more market cap and liquidity would be more fitting. E.G. TQQQ or UPRO

What if crypto had they’re own exchanges/index…like…
The Terra Index e.g. mTERX
The Binance Index e.g. mBINX
The Ethereum Index mETHX

And these indexes were calculated by an Oracle created from mirror and these indexes were traded and unique thru mirror?

Essentially you could buy the cryoto market thru an index traded mirror asset that was created on Mirror Protocol and traded thru the platform.

Food for thought Terra.

Hi Prefix, I am supporting your proposal, but it looks so far as though your message is not getting through. I don’t know if you can edit your poll at this stage, but it would be helpful for there to be a link to the rationale behind your request, which seems compelling to me. I guess not everyone who votes bothers to look at the forum. Could I also respectfully suggest that you don’t plead and beg people for their support, but seek it on the back of a clearly expressed rational and compelling argument, which I believe you have. Good luck with the poll.

Thanks for the reply slickrick!

This page says that FANG is in the top list when you sort by volume. There are others with more volume, but this one is pretty good I’d say.

And yes, I hope MIRROR doesn’t consume itself from farmers.

Also, that’s a good idea about crypto projects having their own index. Like TerraIndex could basically use it to track the value of ALL projects on Terra all at once!

Hi Dickshorty!

I love to be involved with forums and participate in the community! Also, I am not the one who created the poll, I am a supporter of it.

Anyway, I “beg” because I quite simply do not have enough money to swing the vote. All I can do is make a post asking for support. I guess I could tone it down with the “please please please” though. I can see how that could be weird.

From a market cap perspective FNGU is 1.5B
QQQ is 160B and well anyone that trades equities knows the QQQ. I trade equities and never heard of FNGU

Shares outstanding for FNGU is 52M
QQQ - 496.85M shares outstanding.

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Then let’s do QQQ! (After this poll is over if it does not succeed)

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Just for clarification QQQ is an ETF that tracks the NASDAQ 100 and is already tradeable as mQQQ.

TQQQ is a levered fund that delivers 3x exposure only over a one-day holding period of NASDAQ-100 stocks. TQQQ is most likely what you are looking for leverage.

Should be able to do this in nebula protocol which is coming soon. This would be good to propose in their forum. They are looking for suggestions for indexes to setup.

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Why don’t you @ your proposal to Do Kwon and TerraForm Labs so that they can lend their support if they agree? Tag them in the forums and on twitter if you like. As someone else said, best to state a clear proposition which your proposal does.

The reasons for roundtrip commissions to be 0.6% is the terraswap fixed commission 0.3%. Adding the leveraged tokens does not increase the incentives for arbitragers. The real deal would be the lowering of terraswap fees.

Maybe this will change the game Introducing Astroport: A Next-Generation AMM on Terra | by Astroport | Jul, 2021 | Medium