Mirror, mirror on the wall, where are the best insights of them all?
Well, when it comes to Mirror, the new asset platform developed by Terra, the answer is our newly launched Mirror Community Console.
What is Mirror?
Mirror is a synthetic asset platform debuted by Terra late last year. It’s designed to help users gain access and price exposure to real-world assets. The platform allows for the tracking, issuing, and trading of these assets, such as U.S. equities like stocks, via Mirrored Assets, also known as mAssets. mAssets are synthetic derivatives of real-world assets and as the name implies, work to reflect their exchange prices on-chain.
The goal is to help traders who either do not want to, or cannot access, the U.S. stock market in more traditional ways. Mirror seeks to give these users the ability to participate directly in investment or speculation on price even if they don’t own the underlying asset.
Free Labeled On-Chain Data
The Flipside Mirror Community Console is an interactive platform for users to get access and dive deeper into Mirror’s on-chain data. From MIR token supply to transaction count, trading volume, accounts created and total value locked — the key metrics are all there for you to track and pull insights from.
The Mirror community console supports the growth of Mirror by enabling its community to assess performance & see which specific activities are benefiting the ecosystem.
For example, Mirror’s liquidity has progressively increased since launch and remained steady despite bearish crypto market conditions over the last several weeks, indicating that Mirror’s use is not directly correlated to crypto market and is functioning as intended — an accessible platform to gain exposure to assets uncorrelated to crypto.
When looking at Total Value Locked for all mAssets on the platform, we can see that the TVL peak came on May 9th, when it passed 620 million. A clear dip shows TVL going down following the crypto bear market that started on May 18th but recovering within days.
Access the Mirror Community Console for free at mirror.flipsidecrypto.com.