The benefit of adding more mCryptos

In the past I was kind of bearish on adding mirrored crypto, but the huge market slide combined with network congestion gave me a different perspective. The fall of other cryptos can result in UST leaving the ecosystem to buy the dips on other exchanges. This reduces the demand for UST as that purchased crypto will be LPed with that exchanges asset rather than UST.

Benefits of adding mCryptos

1.) Low fees on mCrypto during times of congested network. Other ecosystems can see very high fees during congestion
2.) Benefits Luna stake holders by increasing demand for UST, as mCrypto is likely be combined with UST in a LP pool.
3.) Attract more people into the Mirror TeFi system

I am a fairly new user. What makes mirror unique is the mirrored stocks and commodities. That is one of the reasons I am here, not the mirrored cryptos. But it is still good to have fairly popular crypto here, when there is a dip like recently it surely also make sense.

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Hey mDUDE, thanks for bringing this up. While I personally would rather hold the real crypto, I do see a use in providing mCrypto assets, but only in some scenarios.
I know mBTC and mETH are the most popular cryptos and thus should be supported, I think the real value in adding mCryptos lies in adding the coins that are the hardest to swap into/out of at the moment.

Lets say I want to swap some ETH to BTC. I can do that on almost every eth dex. But lets say I wanted to swap some ETH for ADA (popular trading pair). My only option would be to use a centralized exchange or BSC (basicly the same if you’re not mindfull). Thus, adding ADA would seem like a good thing to do (there is no WADA on eth).

TLDR: can you swap the crypto on another dex? Then I would vote agains. Is it hard to swap to? Hell yeah, add it!

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