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Hello Mirror.One Community!
Today, we are extremely pleased to announce an important milestone for Q1 2021: the Testnet launch date of Mirror.One trading interface!
The Testnet will be available to the public, for anyone to test, on 28th February, 2021, 2pm UTC.
Instructions and links on how to trade will be published prior to the launch.
As you may recall, the team had been working towards finalizing all the pieces of the testnet launch. Reaching this milestone means we are also getting closer to the launch of the Mainnet. Our roadmap, as published on November 16th, 2020 puts us on track for the Q1 2021 Mainnet launch.
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EVERYONE TAKE NOTE
UNISWAP LISTING - DECEMBER 26, 2020 @ 3:00PM GMT
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Was just wondering here. You are building quite a comprehensive platform with different functions. Will team consider adding in lending and saving functions like compound is doing? That would be a neat feature.
We can consider/discuss them once we have the base product live. However, smart contract-based lending/borrowing is a different business model than what we are trying to do. We would like to focus on the core product for the next couple of quarters at least. |
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A lot of people are asking in Twitter and Facebook about Binance and other exchanges for listing this token what is the progression there? When the major exchanges came?
Uniswap Listing scheduled for Dec 26th For other CEX listings - the community will have to decide on the priority. The original plan is Q2 2021 but can be moved up if the community votes for it What will the governance process look like? I read in white paper that 10k tokens will be enough to be able to vote. Whoever has more tokens has more voting power? Do I understand correctly? Important Note: Clarification Below - For Voting - anyone can vote who has a minimum of 1 MIRROR Token For Proposal to Vote - anyone can propose a change who has a minimum of 10,000 MIRROR and a holding period of 30 days. EDIT For Community Voting - 1 MIRROR Token = 1 VOTE |
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A lot of people are asking in Twitter and Facebook about Binance and other exchanges for listing this token what is the progression there? When the major exchanges came?
Uniswap Listing scheduled for Dec 26th For other CEX listings - the community will have to decide on the priority. The original plan is Q2 2021 but can be moved up if the community votes for it |
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Okay. So to be clear, you mean Mirror.finance doesn't use pegged pricing and relies on traders to keep the peg, which is going to be risky for the protocol itself. Yup?
If you want to prevent a risk you should better to ask about smart contract audit IMAO. Audit will show much better what is behind the Mirror  I think confidence will grow once we see some contract audits as well, to be honest. It's one more hoop but an important one for people who have been pulled on (or invested in good projects that had serious flaws) Both product and the audits are coming soon. Remember that we launched almost 36 days ago |
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ee below please
Consider TSLA trading at Nasdaq and MSTLA trading at Mirror.ONE trading platform
At all times TSLA PRICE = MTSLA Price
Say, at Time = T0
TSLA Price @ Nasdaq = $489.60
Therefore, MTSLA Price @ Mirror = $489.60
Notes: MTSLA price doesn't change irrespective of buyers and sellers at Mirror. The trading platform is like Uniswap. So there is only one price that can be traded. (As compared to Binance where you can see the market depth)
Now, at Time = T1
TSLA Price @ Nasdaq = $495.00
Therefore, MTSLA Price @ Mirror = $495.00
Notes: T1 could be 1 minute later, 2 hours later, several weeks or years later. Doesn't matter. This equation will always hold true. i.e TSLA Price = MTSLA Price. No one can tamper with this equation (not even the dev team)
So in short, if someone buys MSTLA at @489.60 and sells at $495.00, they would have replicated the returns of TSLA. The convenience is that you can buy MTSLA with ETH, USDT, or USDC easily (as compared to buying TSLA, where you have to convert your ETH into USD/GBP first)
MTSLA price will be sourced in a decentralized manner from multiple sources. Currently, all asset-tokens are executed against a price that is supplied by mirror oracles using price feeds from various authorised, however, centralized brokerage firms and two separate market data terminals e.g. Bloomberg and Reuters. As an added control, the price feed then goes through a secondary reconciliation with an error threshold of .002%. Price feed will be completely decentralized as the adoption grows.
Hope this helps, but happy to explain more.
So I was rightly in my thoughts It's a solution for stock trading in crypto world based on decentralized platform. Have you a plans to connect an IPO participation in the future? Will be so good. Or it's only already listed stocks possible? Only listed/tradable stocks and commodities at the moment. Okay. So to be clear, you mean Mirror.finance doesn't use pegged pricing and relies on traders to keep the peg, which is going to be risky for the protocol itself. Yup? yes - correct |
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So Private Sale: Pre-listing round ended good - project achieved 30% of the initial funding target, good result. What progress did you achieved in your development efforts?
We are wrapping-up our internal testing and QA; As per our roadmap, mainnet is due in Q1. Next steps are -testnet; audit, and then mainnet |
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ee below please
Consider TSLA trading at Nasdaq and MSTLA trading at Mirror.ONE trading platform
At all times TSLA PRICE = MTSLA Price
Say, at Time = T0
TSLA Price @ Nasdaq = $489.60
Therefore, MTSLA Price @ Mirror = $489.60
Notes: MTSLA price doesn't change irrespective of buyers and sellers at Mirror. The trading platform is like Uniswap. So there is only one price that can be traded. (As compared to Binance where you can see the market depth)
Now, at Time = T1
TSLA Price @ Nasdaq = $495.00
Therefore, MTSLA Price @ Mirror = $495.00
Notes: T1 could be 1 minute later, 2 hours later, several weeks or years later. Doesn't matter. This equation will always hold true. i.e TSLA Price = MTSLA Price. No one can tamper with this equation (not even the dev team)
So in short, if someone buys MSTLA at @489.60 and sells at $495.00, they would have replicated the returns of TSLA. The convenience is that you can buy MTSLA with ETH, USDT, or USDC easily (as compared to buying TSLA, where you have to convert your ETH into USD/GBP first)
MTSLA price will be sourced in a decentralized manner from multiple sources. Currently, all asset-tokens are executed against a price that is supplied by mirror oracles using price feeds from various authorised, however, centralized brokerage firms and two separate market data terminals e.g. Bloomberg and Reuters. As an added control, the price feed then goes through a secondary reconciliation with an error threshold of .002%. Price feed will be completely decentralized as the adoption grows.
Hope this helps, but happy to explain more.
So I was rightly in my thoughts It's a solution for stock trading in crypto world based on decentralized platform. Have you a plans to connect an IPO participation in the future? Will be so good. Or it's only already listed stocks possible? Only listed/tradable stocks and commodities at the moment. |
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Mirror One (“Mirror”) is a trading and liquidity protocol that allows traders to replicate the returns of real-world tradable assets in a constraints-free and decentralized ecosystem. Could you provide an example of replication? I'm not dully understand this  Btw in general it's pretty interesting idea. ee below please Consider TSLA trading at Nasdaq and MSTLA trading at Mirror.ONE trading platform At all times TSLA PRICE = MTSLA Price Say, at Time = T0 TSLA Price @ Nasdaq = $489.60 Therefore, MTSLA Price @ Mirror = $489.60 Notes: MTSLA price doesn't change irrespective of buyers and sellers at Mirror. The trading platform is like Uniswap. So there is only one price that can be traded. (As compared to Binance where you can see the market depth) Now, at Time = T1 TSLA Price @ Nasdaq = $495.00 Therefore, MTSLA Price @ Mirror = $495.00 Notes: T1 could be 1 minute later, 2 hours later, several weeks or years later. Doesn't matter. This equation will always hold true. i.e TSLA Price = MTSLA Price. No one can tamper with this equation (not even the dev team) So in short, if someone buys MSTLA at @489.60 and sells at $495.00, they would have replicated the returns of TSLA. The convenience is that you can buy MTSLA with ETH, USDT, or USDC easily (as compared to buying TSLA, where you have to convert your ETH into USD/GBP first) MTSLA price will be sourced in a decentralized manner from multiple sources. Currently, all asset-tokens are executed against a price that is supplied by mirror oracles using price feeds from various authorised, however, centralized brokerage firms and two separate market data terminals e.g. Bloomberg and Reuters. As an added control, the price feed then goes through a secondary reconciliation with an error threshold of .002%. Price feed will be completely decentralized as the adoption grows. Hope this helps, but happy to explain more. |
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As I see Mirror Protocol is a decentralized trading exchange for traditional assets. For now users can trade with ETH, USDT and DAI. Will it be more options added later?
Yes, of course. We will have the most popular stocks listed on the exchange (Facebook, TSLA, APPL, NFLX, etc) You will be able to trade them directly with ETH, USDT, or DAI |
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Heave a question about LP. What % of raised funds will be used to seed the uniswap pool? When will be Uniswap listing?
It'll be added approximately 25% initially. The price at Uniswap listing will be = Privat Sale Price + % differential in ETH price between Nov. 20 and Dec. 25 (tentative date for uniswap listing). It's devs information from the Telegram. They can confirm This is correct. Uniswap Listing on Dec 26th! |
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Are you similar to MIR project? Is it the same project? I saw the information on CMC about Mirror and can't get its this project or nope. Some time ago, people were skeptical about such ideas.
We are still in the private sale mode. Our Uniswap listing is scheduled to be on Dec 26th See update here: https://mirrortoken.medium.com/mirror-one-protocol-private-sale-update-ce3cfe68fc5We will start appearing on CMC and Coingecko after the uniswap listing |
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Are you similar to MIR project? Is it the same project? I saw the information on CMC about Mirror and can't get its this project or nope. Some time ago, people were skeptical about such ideas.
MIR looks like duplicate of Mirror Protocol. The name and what team are trying to do is similar. Mirror Protocol has been launched first and published the whitepaper weeks before they launched. How to check it? Do you have any proofs? I'm just at a loss for these two projects. They are really very similar and it is difficult to understand which came first. hi there - it is true that the projects are similar and trying to get to the same objective. But the team and approach are different. You can check our timeline in the links below (proof that we launched first) and you can check their timeline ( I believe they launched on Dec 3, 2020?) Whitepaper published on November 16th - https://mirrortoken.medium.com/announcing-the-launch-of-mirror-protocol-baa590e33e8aTwitter handle as of October 2020: https://twitter.com/MirrorProtocolBitcoin Talk Announcement - November 20th |
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Sharing text from our latest Medium post here:
At Mirror.One Trading Exchange, you will be able to trade stocks and equities 24 hours x 7 days a week.
Why do we need this feature?
Global markets call for the ability to trade 24–7. FX and Commodities are already 24-hr traded asset classes. However, stocks and equity indices present a different story. For years, after-hours trading functionality was only available to large institutional investors. Recently, a few brokerage houses have moved in the direction of providing after-hours services to retail investors as well. Investors can place orders at any time of the day (likely till 7 or 8 pm). Risks associated with after-hours trading include less liquidity, wider spreads, and more competition from institutional investors. In some cases, the trade confirmation process is initiated at the opening hours of the stock exchange the next day, which exposes the retail investors to gap risk i.e., until the market open — traders may not even know whether the trade has been executed and if so, at what price.
How do we do it?
At Mirror.One, trading will be allowed during off-market hours. When the markets are open — the prices of Mirror assets are pegged 1:1 with the underlying stocks and indices. After the market close, the price of Mirror assets will reflect the closing market price of the day. The market-making engine will continue to match the potential buyers and sellers at the closing market price. Similarly, during weekends, the closing price as of Friday will continue to show. This simple change allows the engine to offer 24 hours -7 days accessible market. The trade is settled exactly as it would during market open hours.
What’s the risk?
First, trading during off-market hours doesn’t allow for any intra-day trading strategies. The price of assets remains the same, so short-term tactical traders will have to wait for the markets to open to close the position at a profit or loss.
Second, traders should understand that the opening price on the following day may not be the same as in the off-market hours. This aspect of gap risk (or overnight risk) is just the market risk — which exists for every trade.
Finally, off-market hours trading may offer some opportunities for information arbitrage. The more informed traders might trade heavily on stocks during after-hours to benefit from the price movement the next day.
What’s the upside?
The convenience of a truly 24-hr market. We get to trade when we want to trade, without any execution or settlement risk.
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