Case for adding UK stocks and shares through Mirror
Currently, Mirror is very America-centric in the assets that it offers. Most, if not all assets are US equities barring the crypto assets of course.
I believe that a great way to attract more users to Mirror is to provide more mirrored assets - We must mirror everything under the moon! And a great place to start with is high-volume UK stocks and shares.
To start with, a great addition to Mirror protocol would be to mirror the FTSE100 Index. The FTSE 100 index comprises of the 100 most-traded stocks that are listed on the London Stock Exchange and the index has a market capitalisation of £1.814 trillion as of May 2020. With a high market cap, relatively large trading volume and it being relatively inaccessible to non-UK investors the FTSE100 would be a great start to listing more non-US assets.
I will personally attempt to raise 100 MIR so that I can deposit for a whitelist governance poll (I only have 40 MIR right now sadly) and if it passes I will attempt to communicate with Band protocol or the mirror team to see how an oracle for London Stock Exchange assets could be created.
Aswell as the FTSE100 there are many other great assets that could be mirrored to help mirror users gain exposure to UK markets such as:
- LLOY (Lloyds Bank PLC)
- BARC (Barclays PLC)
- HBA (HSBC)
- RR (Rolls Royce Holdings)
- RDB (Royal Dutch Shell)
- IAG (International Consolidated Airlines group SA)
Just on a quick note - IAG owns a lot of UK airlines that operate throughout Europe such as British Airways and Iberia so could potentially be a great covid-recovery stock that has seen quite a bit of upside since the crash of 2020. If there is interest might potentially try get this one listed separately or before the FTSE100
If there is demand for any of these assets or if the FTSE100 gets listed I will work to try and get proposals up. Please feel free to reply to this if you share my vision of having UK stocks and shares on Mirror or have any suggestions for what assets to list.
I am sure this will make my fellow UK LUNAtics happy. Lets mirror everything under the moon!