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25 January 2021

Terra Brings 24-Hour Trading to Synthetic Versions of Stocks Like TSLA and AAPL - CoinDesk

Terra Brings 24-Hour Trading to Synthetic Versions of Stocks Like TSLA and AAPL - CoinDesk


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The firm shared an advance draft of a report on the opportunity Terra has entered with Mirror called “The Standard For Synthetic Assets: Mirror, DeFi’s 1-To-N Opportunity.” .

To mint a synthetic on Synthetix however requires a 750% collateralization ratio in SNX tokens, due to the fact that its token is prone to the same volatility as most cryptocurrencies. .

Minting a synthetic equity on Mirror, however, only requires users staking 150% of its value in one of Terra’s various stablecoins, thanks to the low-volatility of these assets.

Only pools that pair the assets with TerraUSD will be eligible for MIR.  

Of that 9.15 million will be distributed to UNI holders in an initial airdrop, with the same amount to LUNA holders (the token that enables Terra stablecoins to maintain their peg)

Since Mirror runs on Terra’s blockchain, users will need to bridge with Ethereum to earn rewards there

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