The synthetic asset mirrored Amazon (mAMZN) tracks the price of an Amazon stock. It can be coined via the Mirror Protocol, which uses the Band Protocol’s decentralized network of oracles to offer on-chain prices. mAMZN is available in two versions: CW20 and ERC20, which are exchanged on Terraswap and Uniswap, respectively.
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Mirror is a DeFi protocol on the Terra network supported by smart contracts that allows the generation of synthetic assets known as Mirrored Assets (mAssets). mAssets are virtual assets that mirror the market behavior of real-world assets, allowing traders from all over the world to gain price exposure without the hassles of owning or transacting real assets.
The minting of mAssets is decentralized, with users across the network opening positions and depositing collateral to do so. Mirror ensures that the protocol always has enough collateral to cover mAssets, as well as managing mAsset markets by listing them on Terraswap against UST.
mAssets are blockchain currencies that act as “mirrors” of real-world assets by reflecting on-chain exchange rates. They provide traders with price exposure to real assets while allowing fractional ownership, open access, and censorship resistance in the same way that any other cryptocurrency does.
mAssets are blockchain currencies that were founded by a genius who prefers to stay anonymous.
A collateralized debt position (CDP) can be used to create new tokens for a listed mAsset by using TerraUSD (UST), mAsset, or whitelisted collateral tokens as collateral. Additionally, while forming a CDP, mAssets can be directly shorted to generate sLP tokens. The CDP is effectively a short position against the price movement of the mirrored asset, i.e., if the stock price of AAPL rises, minters of mAAPL will be forced to deposit more collateral in order to maintain the same collateral ratio.
Following the announcement of an IPO date and price quote, a new mAsset can be whitelisted as a pre-IPO mAsset to be minted and traded on Mirror Protocol after a governance poll. Pre-IPO mAsset whitelisting is distinct from conventional whitelisting in the many ways.
If you’re looking for a place to purchase Mirrored Amazon, the best cryptocurrency exchanges to use right now are Uniswap (V2), and Terraswap.
No. There is no direct method to purchase mAMZN using cash. You can, however, utilize markets such as LocalBitcoins to first acquire BTC, and then complete the remainder of the procedures by moving your BTC to the appropriate AltCoin exchangers.
Yes, in reality, Europe is one of the easiest countries to acquire cryptocurrency in general. There are also online banks where you can create an account and send funds to exchanges like Coinbase and Uphold.
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact ZI price and market cap.
Mirrored Amazon Official website https://mirror.finance/
Mirrored Amazon Twitter –https://twitter.com/mirror_protocol
Mirrored Amazon Medium- https://medium.com/mirror-protocol/
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