Authors Sawit Trisirisatayawong
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With $GME and $AMC live soon on @mirror_protocol and the absolute madness that played out in the traditional financial markets this week, there's no better than now to go decentralized.
A summary on Mirror Protocol, how it works, and its potential
🧵👇
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@mirror_protocol is a decentralized synthetics protocol built primarily on Terra blockchain. It enables users to gain exposure to various real-world assets (stocks, cryptocurrencies, etc.) through the creation and trading of on-chain synthetic assets, called mAssets
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At the time of writing, the assets supported consists mainly of US-based equities (e.g. $FB, $AMZN, $ABNB), with other asset class such as cryptocurrencies coming in the pipeline starting with $BTC and $ETH, as well as a number of others currently in governance voting process
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The protocol the offers numerous advantages and benefits over traditional exchanges and markets
4/
1) First, unlike the example that we saw with Robinhood this week, there's no central entity with the power to pause/restrict trading on any asset, much less the ridiculous one-sided disablement of buying or selling that we've
A summary on Mirror Protocol, how it works, and its potential
🧵👇
1/
@mirror_protocol is a decentralized synthetics protocol built primarily on Terra blockchain. It enables users to gain exposure to various real-world assets (stocks, cryptocurrencies, etc.) through the creation and trading of on-chain synthetic assets, called mAssets
2/
At the time of writing, the assets supported consists mainly of US-based equities (e.g. $FB, $AMZN, $ABNB), with other asset class such as cryptocurrencies coming in the pipeline starting with $BTC and $ETH, as well as a number of others currently in governance voting process
3/
The protocol the offers numerous advantages and benefits over traditional exchanges and markets
4/
1) First, unlike the example that we saw with Robinhood this week, there's no central entity with the power to pause/restrict trading on any asset, much less the ridiculous one-sided disablement of buying or selling that we've
Robinhood restricted crypto trading due to "extraordinary market conditions" and Coinbase is investigating a site outage LMAO
— Larry Cermak (@lawmaster) January 29, 2021