Thread by @mirror_protocol

1/ The Mirror V2 Testnet is live!
terra-dev.mirror.finance

Mirror V2 builds on the best of V1, incorporating invaluable community feedback to deliver a number of innovative key features.

2/ New Features on Mirror V2:

- Improved incentives for gov participation
- New collateral options: LUNA, MIR, ANC, aUST
- Shorting incentives (generating sLP tokens)
- Pre-IPO assets

Details here 👉 docs.mirror.finance/whats-new-for-…

3/ Testnet V2 parameter settings
(Note that mainnet settings will be announced at launch):

- Collateral: LUNA, MIR, ANC, aUST (min. collateral ratio for LUNA, MIR, ANC is multiplied by 133%, meaning that a borrow ratio of 150% → 200%).

4/
- Voter weight: 50% of protocol fees from CDP closures distributed to stakers who vote on ongoing polls
- Proposal Deposit: 1 MIR (amt to list a proposal)
- Quorum: 5% (% of staked MIR voted to validate poll)
- Protocol fee rate: 1% (fee applied to value of asset being burnt)

5/
- UST lock-up after shorting: 600 seconds
- Voting period: 318 seconds
- Quorum snapshot period: 100 seconds
- Effective delay: 331 seconds (time before change goes into effect)
- Price premium update interval: 600 seconds

6/ For more detailed info on the mechanics and new features on V2, dive deeper with our new WP & docs 👇

📜 WP: mirror.finance/Mirror_Protoco…
🔎 Docs: docs.mirror.finance
⚙️ Contracts: github.com/mirror-protoco…

7/ How to participate on the testnet:

1. Set the network on Terra Station extension to “Testnet”
2. Obtain testnet $UST here: faucet.terra.money
3. Access all V2 functions on the web app: terra-dev.mirror.finance

8/ As a community-governed protocol, it’s up to the community to vote in Mirror V2!

To bring V2 to life, vote on the proposal: terra.mirror.finance/gov/poll/103

Share constructive feedback re: V2 here: discord.gg/SVdWZRuyZS