Mirror Protocol is a DeFi protocol that uses the Terra blockchain to create synthetic assets known as Mirrored Assets or mAssets. Mirror uses the CosmWasm smart contract programming language. mAssets replicate the price behavior of digital and traditional financial assets. The trade is done without intermediaries.
What is a Defi protocol?
DeFi protocols may include rules and principles aligned with real-world institutions for industry participants. Blockchain technology allows for increased financial security and transparency, opening up new liquidity and growth opportunities and an integrated and standardized economic system through decentralized finance.
What is its protocol (its)?
Its protocol focuses heavily on the privacy of its users and it’s often used for nefarious activities for this reason. However, the coin also boasts considerable real-world value and has caught the attention of various nation states including Venezuela, Iran and North Korea (I kid you not!).
What is the blockchain protocol and how does it work?
The Protocol allows for users on the blockchain to gain price exposure to real-life assets through synthetic trading.
