Why mirror ETFs instead of Asset?

What’s mainly on my mind is, why did we choose to whitelist gold ETF instead of mirroring the actual price of gold? We could have PAXG for example. Of course this ETF vs Asset discussion extends to other things, and has somewhat been posted about already in the VIXY thread, but not entirely the same purpose of discussion.

(Excuse my ignorance if it’s there, still grasping the larger vision of Mirror Protocol)

I’m interested in asset price tracking (direct method) vs. ETF/ETP.

There are some benefits and conveniences related to using ETFs. The price oracles are straightforward (ETF prices from NASDAQ and NYSE), name recognition, etc.

I am using mIAU (Gold ETF) but would technically prefer a gold price tracked asset. Even with the S&P 500 ETF (mSPY) I would prefer if we could track the S&P 500 index itself instead of an ETF.

Let’s get a price tracked asset going that is not an ETF.

mLUMBER is being proposed right now and depending on the price oracle data source it might end up to be closer to what you are thinking of as a price of commodity style mAsset.

It’s not likely there would be any appetite for Gold and Silver price tracking unless somehow the ETFs were phased out. There are other metals but I imagine that most people would think we have sufficient metals coverage with the gold and silver ETFs.

Any ideas for asset price tracking other than metals?


For example, in my mSPG1200 proposal ([Proposal] International Index mAsset (mACWI, a global version of mSPY)) I plan to track the index directly if the oracle allows it: https://www.google.com/finance/quote/SPG1200:INDEXSP. Not sure why other implementations (mSPY) have chosen to track an ETF rather than the index (https://www.google.com/finance/quote/.INX:INDEXSP), there may be limitations in the current oracles I’m not aware of. Seems like an ETF would have inaccuracy with respect to the pure index, and could even be delisted from an exchange. Maybe the community finds an ETF more understandable. To me it seems misleading, as I’ve also seen questions like “how does mirror have proof of reserves to back the oracle price?”, a confusion that somewhat makes sense for a mirror ETF. For a pure index, purchasers may correctly realize there is no actual backed fund.

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if someone can work out the Oracles for index data, then please at least use the Total Return Index not the Price Index. That will solve the problem of compounding dividends.

For example, use SP500TR not SP500 and use SPG1200TR not SPG1200. Then you’re going to have to answer questions of “why is the mirror’s S&P 500 at 8,670 but Google tells me the S&P 500 is only 4176?”

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