Mirror Protocol v2 Detailed Guide

Introduction

Mirror v2 Key Changes

  1. Incentive to participate in $MIR Governance

How Shorting Works?

Mint an mAsset @ Oracle Price + Sell @ Terraswap price + get $MIR rewards hourly

Mirror v2 User Guide

  1. Buy mAsset
Trade Page — Choose mAsset to Buy / Sell
Buy mAsset
Farm Page — Long and Short
Half mAsset — Half UST Long Farm.
Earn 40% a year based on 13 Jul $MIR price and $MIR rewards

Bonus: Delta-Neutral Yield Farming Strategy

  1. Use $2.5K to buy an mAsset that needs 200% collateral (Eg. mUSO)
  2. Farm $MIR with mUSO-UST LP ($2.5k on each side)
    Get paid 40% APY in $MIR.
  1. Deposit $5K UST into Anchor and get aUST.
    Get paid ~20% APY via this savings protocol.
Deposit half the UST into Anchor Protocol
Farm Page — Click Short Farm
Short mAsset Farm Page, select Collateral Ratio between 180–200%
Go to My Page — Borrowing to see Collateral Ratio
My Page — Claim UST 15 days after Short Farming from sale of shorted mAsset
My Page — Claim All Rewards to claim $MIR
Summary of Delta-Neutral Rewards for 1 year

How to Close Off Shorts

Go to Farm — click Manage
Click Close.

Conclusion

  1. Use Mirror to trade synthetic stocks if you are afraid of the volatility of Crypto as certain stocks can be a lot more stable.
  2. Use Mirror long and short farm delta neutral strategy to earn high yields without being exposed to volatility by integrating Anchor protocol.

Links to Find out More

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FishMarketAcademy

FishMarketAcademy

FishMarketAcademy teaches working adults on how to fish for more gains in the markets through crypto and equities.

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