What is Mirror protocol Mir?

Terraform Labs (TFL), the group behind Terra—a stable, programmable cryptocurrency—launches Mirror, the first synthetic assets protocol that tracks the price of stocks, futures, exchange-traded funds, and other traditional financial assets , bridging crypto with traditional markets.

Mirror is a DeFi protocol fuelled by Terra’s smart contracts. It permits the development of synthetic assets called Mirror Assets (mAssets).

Mirror Protocol is used to create synthetic assets that mirror the real-life and real-time value of assets in traditional financial markets . Anyone can create mAssets from anywhere in the world, which lowers the entry barrier for trading stocks, commodities, and other assets.

Mirror Protocol (MIR) is an Ethereum token that governs the Mirror Protocol which “allows the creation of fungible assets, that track the price of real world assets.” The project aims to enable 24/7 equities trading by minting “synthetic” versions of the real thing.