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Coinbase has been on a tear for adding new crypto projects recently and it honestly makes a ton of sense. With the crypto markets being as volatile as they are it helps to add more assets that you can collect fees on. After all, there are thousands of projects and hundreds created in the last year alone. I really like this addition though because Mirror is really a unique idea and I have not found another project quite like it yet.
Mirror Protocol
Mirror Protocol first caught my attention with some of its pairings being added to Harvest Finance with it ending up having 6 different farms now. If you do not already know the premise of Mirror is rather straightforward. Mirror is a way to take a publically traded stock like Twitter or Tesla and "Mirror" it onto the blockchain. For instance, the 6 farms on Harvest are Apple, Tesla, Alphabet, Amazon, Netflix, and Twitter mirror pairings. These mSTONKs have had amazing yield rates for yield farming but more importantly, were radically changing the stock market as it has been known.
Mirror allows for the stock market to essentially be open 24/7 just like with any other crypto. It does not take off holidays or have certain hours of operation and allows people to increase or decrease their positions in accordance with how new both national and international could affect it. Say something bad comes out of China after the market has closed well Mirror will let you manage to trade your stakes still. This could really be the forefront of changing the stock market permanently. Talks have gone on for years and years about extending hours and while that is done somewhat it is not like the market itself is actually open just certain groups who group together to trade stocks.
How this Protocol plays out will be interesting to see as they are dealing with securities who in turn deal with the SEC. I have not seen them run across any problems so far and with that in mind and the fact that COINBASE just added them who is itself fresh meat for the SEC to apply pressure to it seems they will avoid SEC regulations for right now. Their website is here and as you can see they offer many many more than the few stocks I mentioned.
Lastly while the part of it I talked about operated on the Etherum Blockchain they are also on the Terraswap leading you to be able to access it on different fronts. It appears going through their site that they might even soon be on Cosmos as they are building on that blockchain as well. With their unique place and an extremely interesting problem, they are trying to fix this could be a big boom to DeFi over the long haul!
Always remember to do your own research! This is one of the biggest things people forget as you need to not only know Stocks but Crypto and lastly see how they interact with each other on the same platform!
