Mirror Wallet—a fully non-custodial wallet maintained by ATQ Capital—launches with a trading experience it compares to stock trading app Robinhood. Mirror Wallet allows users to purchase synthetic assets tracking the prices of the 12 most popular US technology stocks, including Apple, Google, Tesla, Netflix, Twitter, Microsoft Corporation, Amazon and Alibaba, using TerraUSD. Bitcoin and tether will soon be accepted for purchase of synthetic assets as well. Users of Mirror Wallet can purchase fractional shares, which, given the expense of top-trading stocks, further increases accessibility.
“We are particularly excited about supporting the Mirror Protocol recently debuted by TerraForm Labs through the delivery of the Mirror Wallet,” ATQ Capital managing director Chee Lee said. “With an elegant and intuitive user interface, Mirror Wallet’s trading experience is comparative with Robinhood. Just as Robinhood made stock trading accessible to millions of Americans, we anticipate Mirror Wallet could make US equities accessible to the millions of users worldwide who haven’t previously been able to participate in the US stock market.”
“Synthetic assets are one of the most transformative innovations in finance, and are likely to take DeFi to the next level,” XRP Capital Michael Arrington said. “The appetite for US equity investments is strong and growing worldwide. Mirror Wallet allows anyone with an internet-connected device to gain exposure to those highly sought-after US stocks.”
Mirror Wallet is built on Mirror Protocol, a synthetic assets protocol tracking the price of stocks, futures, exchange-traded funds, and other traditional financial assets. By enabling the minting of synthetic assets—Mirrored Assets (mAssets) that “mirror” the price behavior of real-world assets by reflecting the exchange prices on-chain—Mirror Protocol democratizes access to US equities and other assets that have been historically difficult to approach for anyone based outside of the United States.
New assets beyond the initial 12 synthetics tracking the most popular US technology stocks can be introduced by anyone holding MIR tokens—the governance token of the Mirror Protocol. The proposal would be put to a vote, and if the DAO responsible for Mirror’s governance passes the proposal, the new asset would be added.
To reward the most active traders on the Mirror Protocol, eligible users will be airdropped additional UST as a promotional reward through the mobile wallet. Users will be airdropped additional UST prizes prorated to their individual trading volume recorded on the counter below:
Details:
Total Prize Pool: 100,000 UST
Minimum Trading Volume (to be eligible): 50 UST
Maximum Receivable Reward: 1,000 UST
This promotion will run for two weeks from Dec. 17.
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