Mirror Protocol v2 Detailed Guide

Introduction

Mirror v2 Key Changes

The addition of aUST as collateral created the more incentive for a delta-neutral farming strategy (unaffected by the market going up or down) because you are earning an additional 20% APY while being delta neutral.

How Shorting Works?

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

Mirror v2 User Guide

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

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

Links to Find out More

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