THREAD
@anchor_protocol now supports $bETH as collateral with the help of @LidoFinance, allowing you to borrow $UST to either deposit directly at Anchor for 20% APY or farm on other venues like @mirror_protocol. $LUNA $ETH $ANC

But how you ask? Find a short guide below 🧵👇
1. You need to convert your $ETH to $stETH (staked Ethereum 2.0) either via @LidoFinance at directly stake.lido.fi (staking rewards 5.6% APY will later go to aUST holders)
2. Or you just swap your $ETH for $stETH on @CurveFinance at curve.fi via the respective ETH/stETH pool - slippage currently is low but always check before swapping
3. Now you can transfer your $stETH to @terra_money as $bETH directly by the dedicated dapp from @LidoFinance at anchor.lido.fi - don't forget to double-check your #Terra which you need to enter as a receiving destination.
4.
Finally, you can head to @anchor_protocol and use your $bETH as collateral to borrow $UST. You pay interest on this loan but earn $ANC as an incentive for it, netting a 27% APY (distribution APY > borrowing APY). $UST can directly be deployed at Anchor to earn 20% APY.

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More from @archon_0x

3 Aug
1/4 🧵
Why are synthetic assets in #DeFi - brought to us by @synthetix_io @mirror_protocol @UMAprotocol etc. - important and why should we fight to keep them?

🪞 Synths are borderless and can be accessed everywhere despite underlying assets often being regulated regionally.
2/4
🪞 Synths in #DeFi can be owned and traded by everyone leading to better financial inclusion.

🪞 You can access various financial products in one place, leading to better ease of use.

🪞 Many blood-sucking 🧛‍♂️ 🩸 middle-men are cut out > more efficiency, less costs.
3/4
🪞 Synths become programmable and interoperable by being minted and traded on decentralized blockchains like #Ethereum or @terra_money, allowing e.g. to easily lend you synthetic stocks on a #DeFi money market for additional yield.
Read 4 tweets
20 May
1/17
In anticipation of Version 2, I wrote a review for @Qi_Capital on @mirror_protocol, diving deeper into its value proposition, solution mechanic, farming opportunities, the $MIR token, and much more. Check it out!

@terra_money $LUNA $UST #DeFi

link.medium.com/plCfgSmspgb
2/17
For everyone too lazy to read the article, here a short summary:
Mirror Protocol allows everyone to create and trade synthetic assets  (Mirror Assets or mAssets), which track the price of specific real-world assets like stocks or ETFs - across #Terra, #Ethereum, and #BSC.
3/17
The protocol  -  as well as its native gov token $MIR  -  has seen constant growth since its inception in December 2020, which is reflected in $2.3 billion TVL, a constantly high trading volume, and a market capitalization of $0.5 billion. Dashboard by @Mirror_Market_
Read 17 tweets
31 Mar
1/13
🚜 For all new to @mirror_protocol: A thread 🧵 on how to provide liquidity to #mAsset / $UST pools, which currently offer up to 220% APR (which equals 800% APY if compounded daily) 👇

(This guide is for the @terra_money version!)

$LUNA $MIR $UST $ANC #DeFi $ETH
2/13
First things first: What is @mirror_protocol? It's a decentralized derivatives platform running on the @terra_money blockchain and #Ethereum, allowing the creation of fungible assets, “synthetics”, that track the price of real-world assets.
3/13
These assets can be used as building blocks in #DeFi or can be bought directly on @mirror_protocol or the native mobile app @Mirror_Wallet. In recent times this has seen great traction due to the restriction of centralized services such as @RobinhoodApp.
Read 14 tweets
17 Mar
1/6
You want to borrow $UST on your $LUNA on @anchor_protocol to utilize it on @mirror_protocol or leverage and earn $ANC rewards on top?

Here is a step-to-step guide for you 👇
2/6
Let's first clarify what you are going to do: you will delegate your unstaked $LUNA (and lock it for at least 21 days as it will get staked) to receive $bLUNA. You then collateralized $bLUNA to borrow $UST for which you pay interest (borrow APY) but get incentivized in $ANC.
3/6
Step 1: You need to have unstaked $LUNA, if you have it staked, you have to unstake it and wait for 21 days. Obviously you can buy it on several CEXs or via terraswap.io e.g. with $UST. (BTW: In the future this will also work with $SOL & $ATOM).
Read 6 tweets
16 Mar
1/8
High-level summary of all known apps in the @terra_money ecosystem. This should be an initial primer to everyone not yet familiar with the ecosystem and what solutions are and will be available on Terra. $LUNA $MIR $ANC $UST $SPAR

terra.money

A thread 🧵👇
2/8
First things first, what is @terra_money? It is a @cosmos-based #blockchain offering programmable money. It features native stablecoins like $UST or $KRT that are backed by $LUNA which has a dynamic supply.

Video:
Whitepaper: terra.money/Terra_White_pa…
3/8
.@mirror_protocol - a synthetics protocol for on-chain price exposure to real-world assets - has only launched weeks ago and already supports 20+ synthetic assets like $mTSLA, $mBTC based on @BandProtocol price feeds. It has $600M liquidity, +$1B TVL, and grows quickly. $MIR
Read 9 tweets

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