I would like to propose a new asset listing on Mirror protocol. The asset is REMX VanEck rare earth/strategic metals ETF, which gives you exposure to the whole metals market. The ETF seeks to replicate as closely as possible, the price and yield performance of MVIS global rare earth/strategic metals index, which is intended to track overall performance of companies involved in producing, refining, and recycling of rare earth and strategic metals and minerals.
I think it could be a great hook for people who are interested in gaining exposure to the whole metals market and not just silver and gold that are available on Mirror Protocol. The asset could play a role of both risk -on and -off asset. As of 03/08/2021, it is compromised of 20 companies located globally involved in the metals industry servicing different functions.
There is no such thing in investment as a free lunch, but as close as you can get to it is with diversification. Listing this asset, would allow for greater spectrum of choice to diversify into. You would have an option to diversify your exposure from the US centric tech industry, VIXY, IAU & SLV, crypto and into an asset with a broader range of industry capture and market share.
REMX will also present a strategic play, that you can take on by allocating into the asset. Extreme levels of dollar inflation and rising competition between global power houses like US, China, EU as to who is the strongest and smartest player in the filed is only gaining speed. Since everyone considers USD as a reserve currency and US outright saying we have infinite money, and the asian hemisphere of the planet holding all the industrial capabilities, especially in the metals sector; we will witness a game of tug of war, where one side will start raising metals prices to get the most out of the protocol with an infinite mint supply capability and the protocol will print more and more in order to obtain as much of the physical metals share as possible.
This asset could be something a big investor could look to allocate into, by giving ability for a longer term hold with a steady yield and great potential for price appreciation. As now COVID is under control and global economical reopening, combined together with rising demand for metals like Copper, Platinum, and Lithium, I think the currency prices will remain stable and the industry will keep thriving and growing and the ETF again will provide a great exposure to the entire metals market.
Link to the VanEck ETF page.
Price comparison relative to SLV and IAU: