This DeFi Protocol Becomes Whales’ Next Target?

2021-02-01 08:50:00 · 3852 views · 4 min read

 

Recently, many whales have shilled a new cryptocurrency $MIR on social media. 

What is $MIR? Actually, early on 21th Jan, Dapp.com has introduced Mirror Protocol, the project behind it, and has taught our users how to farm $MIR. The price at that time was only $1.5, now goes up to $4.61, increased by 265.5% in the past 30 days.

 

 

Then why do those whales and dapp.com look so highly upon Mirror Protocol and MIR? How do we find it before the token price takes off?

 

 

Firstly, as the largest blockchain product distribution platform, dapp.com supports 21 blockchains and products that are built on these blockchains. So all new products will submit and list on dapp.com as their first stop to users. (Want to discover the new products added every week? Check this playlist: What’s New?) When reviewing Mirror Protocol, we found that it is an innovative synthetic + mining DeFi product. It allows you to stake real stock shares in Mirror Protocol with a rather high APY. So far, the pools in Mirror Protocol support many leading global companies’ stocks including Tesla, Twitter, Netflix, Amazon, Microsoft, Alibaba, Google, Apple, etc. All the APYs are above 150%. Currently, the LP with the best APY is mNFLX-UST LP for Netflix stock, at 219.83%. And the APY for Tesla is 203.92% (at the time of writing). 

 

 

Secondly, its on-chain performance is amazing.

Its active users increased from 85 on 2nd Jan to more than 800 on 29th Jan. The transactions increased from 169 to 2.7K in the same period. Its daily volume reached ATH on 26th Jan at 2.38K. 

 


MIR token price is highly correlated with its on-chain data. You can see in the pic above that the black dot line which represents MIR price moves almost in the same direction with the users and transactions curve. As we’ve mentioned, the token price increased by 265.5% in the past 30 days.

 

 

Mirror Protocol’s social signal is also showing the same trend, rising from 5K on 2nd Jan to nearly 15K on 31st Jan.

 

 

Mirror Protocol is ranked No.10 based on 24h active users among all the Ethereum DeFi products.

 

So how to farm $MIR token, as well as earning up to 200% APY staking rewards?

 

 

1. Choose the blockchain you want to use, either Terra blockchain or Ethereum blockchain. No matter which blockchain you choose, the process is the same. Terra blockchain will give you a lower gas fee definitely. 

 

2. Buy UST in Kucoin, Curve, or Uniswap V2.

 

3. Go to “Trade” in Mirror Protocol. Buy the mAssets you want with UST.

 

4. Choose the mAssets pool to provide liquidity in Uniswap to attain LP tokens.


 

5. After you got the mAssets LP tokens, you can start to stake to earn interest now! Go to “Stake”. Select the mAsset LP, for example mTSLA-UST LP, and enter the amount you’d like to stake.

 

After staking, you can start to earn up to 219% APY now! You can check your real-time earning on “My Page”.

 

 

See our editor team stake and get 49.7 $MIR in just 1 week! 

 

 

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