About the coin

MIR is the governance token of Mirror Protocol, a synthetic assets protocol developed by Terraform Labs (TFL) on the Terra blockchain. The protocol is designed to be decentralized from its inception, with governance and code changes managed by MIR token holders. TFL has no plans to retain or sell MIR tokens, ensuring a community-driven project without admin keys or special access privileges.

Main features

Mirror Protocol allows the creation of mirrored assets, which are blockchain tokens that mimic real-world assets by reflecting their exchange prices on-chain. These mirrored assets provide traders with price exposure to real assets while offering fractional ownership, open access, and censorship resistance, similar to other cryptocurrencies. Unlike traditional tokens that represent a real underlying asset, mirrored assets are purely synthetic and only capture the price movement of the corresponding asset.

How it works

The protocol operates on the Terra blockchain, leveraging its decentralized nature to ensure that all operations, including the on-chain treasury and code modifications, are governed by the community of MIR token holders. This setup eliminates centralized control and promotes a transparent and open financial ecosystem.