The stable currency project Terra launched the synthetic asset agreement Mirror Protocol, and will issue the governance token MIR

Rhythm BlockBeats news, on December 4th, the stablecoin project Terra  (LUNA) launched the Synthetic Asset Protocol Mirror Protocol, which can track stocks, futures, exchange-traded funds and other traditional financial assets The price of the asset, thus integrating the cryptocurrency market with the traditional market.

Mirror Protocol allows for the creation of fungible assets, or "synthetic assets", that track the price of real-world assets . Mirror synthetic assets will be used as key building blocks of smart contracts and bring assets from all over the world to the blockchain.

In order to create Mirror assets (mAsset), issuers must lock 150% of the current asset value into Terra stablecoins or mAsset, as collateral. When the asset value exceeds the collateral threshold, the collateral is liquidated to ensure the solvency of the system.

The price system of mAsset is obtained through a decentralized price oracle, and the price is updated every 30 seconds. When the price of an mAsset fluctuates wildly from the primary market, traders are incentivized to buy/sell assets for collateral.

mAsset is now open for trading on Uniswap and Terraswap. Mirror will issue the governance token MIR, and through the fair launch of the issuance of tokens, MIR holders can obtain 0.25% of the transaction fee.

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