Thread by @AudioRecovered

Mirror Protocol ($MIR) by @terra_money is a more efficient, widely used and more populous place to trade synthetic stocks than $SNX.

Read more below about why Mirror will/and is replacing Synthetix. 👇 👇 👇

2/ Mirror Protocol has a TVL of just under $2 Billion

Synthetix (the leading competitor) has just over half. HALF.

3/ $MIR benefits from sitting snuggly in the Terra ecosystem which can't be said for $SNX.

You can trade almost any asset on Terra for synthetic stocks. You can go short and long on them too!

4/ Imagine you have $5000 deposited into @anchor_protocol, with $MIR v2, you can take your $aUST and use those to go long or short on a stock, thus increasing your % gain!

5/ $SNX has an mCap of $1.5 Billion
$SNX has a TVL of $1.098 Billion
$SNX has a FDV/TVL Ratio of 1.5 (lower is better)

$MIR has an mCap of $288 Million
$MIR has a TVL of $1.95 Billion
$MIR has a FDV/TVL Ratio of 0.75 (lower is better)

See where the money is going...

6/ To quote @wass_bend,

"-Synthetix: 65 daily users and 1.25 transactions per user per day
-Mirror: 3000 users and 4.5 tx per user per day

So, exactly what can you do on $MIR ?

7/ $MIR let's you buy synthetic assets which 1:1 mirror real world assets.

👉Every stonk is collateralised and backed
👉Go short or go long on a stock and earn while doing it
👉Stake rewards in governance for more $MIR
👉Buy stocks in restricted countries with ease

8/ Did you get to the end of this and ask yourself, where can I buy me some $MIR?

Go to terra.mirror.finance or simply use Terra station to secure your part of the biggest decentralised network in history #crypto.