Mirror Protocol is collaborating with EasyFi Network to institute a new range of tokenized stocks and commodities collateral markets on our Layer 2 DeFi lending protocol. This partnership aims at bringing the “FAANG” range of assets as 5 major tech mAssets mirrored by our partners — Facebook, Amazon, Apple, Netflix & Google, plus other assets on their Terra platform!
The launch of EasyFi’s Tokenized Stocks and Commodities Money Markets will be the first of its kind on any Layer 2 DeFi.
Some Salient points of this collaboration
- Tokenized versions of global stocks of Apple, Facebook, Google (Alphabet), Amazon, Tesla, Twitter, Microsoft and others to be included in this integration.
- EasyFi will integrate the mAssets listed on Terra Finance on Mirror protocol such as — mAAPL, mFB, mGOOGL, mAMZN, mNFLX, mTSLA, mTWTR, mMSFT, mQQQ, mUSO — as new money markets on our Binance Smart Chain based protocol.
- These markets will be enabled one-by-one in due course of time.
- Holders of mirrored assets — mAssets — from Mirror will soon be able to supply their tokenized stocks for lending. This will be an integration on our BSC based protocol.
- Users can also take loans against their tokenized stock positions on EasyFi @ BSC.
- Users can borrow stablecoins such as USDC, BUSD & DAI, etc against all their supplied collateral assets.
Mirror is a DeFi protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called Mirrored Assets (mAssets). Mirror is censorship-resistant and accessible to anyone in the world via the Mirror web app and Mirror Wallet (mobile). Within 4 months of launch, Mirror has accumulated more than $1.8 billion in TVL and $900+ million in total liquidity. The synthetic assets on Mirror, called mAssets, are available on Terra, Ethereum, and Binance Chain — granting broad exposure to major asset classes for financially disenfranchised users worldwide.
Mirror is a project developed and steered by its community: its markets are maintained by its own users through MIR incentives, and the protocol evolves with new ideas through democratic governance.
mAssets are synthetic assets on Mirror that mimic the price behavior of real-world assets and give traders anywhere in the world open access to price exposure without the burdens of owning or transacting real assets. The minting of mAssets is decentralized and is undertaken by users throughout the network by opening a collateralized debt position (CDP) by depositing Terra’s primary fiat-pegged stablecoin — UST. Mirror ensures that there is always sufficient collateral within the protocol to cover mAssets based on governance parameters for the over-collateralization ratio as determined by the community.
Read More here: https://docs.mirror.finance/protocol/mirrored-assets-massets
Easyfi is a universal layer 2 lending protocol built for defi focused on scalability, composability, and adoption. It has been designed as an open and inclusive financial network infrastructure to run on public networks to facilitate end-to-end lending & borrowing of digital assets and related financial products. Easyfi is being built upon the ethos of permission less networks & automation of smart contracts.