Investors Can Stake MIR Token on Binance Starting Today

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MIR is Mirror Protocol’s governance token. Terraform Labs (TFL) built this synthetic asset protocol on the Terra blockchain. Mirror Protocol became wholly decentralized, with the code changes and on-chain treasury governed by MIR token holders.

Mirrored assets are essentially blockchain tokens. However, they behave like mirror versions of real-world assets as they reflect the exchange prices on-chain. MIR gives investors the price exposure to real assets while simultaneously allowing fractional ownership, along with censorship resistance and open access as any other cryptocurrency. However, unlike traditional tokens, which typically represent a real, underlying asset, Mirrored assets are purely synthetic. They only capture the corresponding asset’s price movement.

Still, these tokens offer their holders many advantages. For instance, access to foreign equities and forex markets is minimal in most markets outside of Europe & North America. But this crypto allows traders global accessibility without entry barriers.

Nearly instantaneous order execution is also a nice addition. Orders can often take up to a day to execute due to the lack of liquidity fully. However, Mirror relies on liquidity provided by various individual asset pools. As a result, orders can be executed very fast; it mostly takes only several seconds.

Furthermore, it makes executing fractional orders much simple. In traditional finance, if a trader wants to execute a fractional order, they must gather multiple fractional orders and execute a unitary transaction. That means additional waiting time. However, order volume is represented as a number on the blockchain, and the intermediary bundling process isn’t necessary.

Binance listed Mirror Protocol in the Innovation Zone

Binance listed Mirror Protocol in its Innovation Zone, opening trading for MIR/BTC, MIR/USDT, and MIR/BUSD trading pairs. The Innovation Zone is a trading zone enabling users to trade new and innovative tokens. However, those assets are likely to have higher volatility and pose a higher risk than other tokens.

MIR is a relatively new token, and it poses a higher-than-normal risk. It means that the token will likely be subject to high price volatility.

Binance Staking has launched a high-yield activity officially on Thursday. Investors can stake their MIR starting from April 22, 2021, 12:00 PM (UTC) and earn up to 34.79% APY.

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