SPECIAL NOTICE: TERRA HAS FALLEN

Takes money to make money

So you’ve got some of your LUNA delegated on Terra Station, some of your LUNA bonded in Anchor, and you’ve started saving with some of your UST in Anchor. We also began to explore a somewhat more risk tolerant option in Mirror: Liquidity Pooling. However, that is just one of the many options you can choose to undertake in Mirror, The Terra ecosystem’s investing protocol. In this part of the series we will look into more of the options presented.

Disclaimer

This is a “How To” not a “What To Do.” We are by no means financial advisors, and will try to keep this as informative as possible without delving too much into investment strategies and recommended courses of action. We simply want to show you what you can do in the Terra network. This is also not a “How It Works” - unsurprisingly, this system is quite complex. We are getting into the depths of Terra’s capabilities here. If you would like to know more next level things, there are more in depth analyses out there on these these protocols. For example, most of our original knowledge came from nachodon’s fantastic youtube series and Terrabite’s fantastic podcast

Let’s start with the Basics (Trading)

Mirror is where you can invest your UST into popular assets that have been “mirrored” for compatibility in the Mirror protocol, giving them the clever name of mASSET (Mirrored Asset). These are mainly US stocks that you are probably familiar with; all of FAANG, TESLA, commodities such as USO and IAU. You’ll just see an m in front of their traditional symbol. In Mirror, however, any “real world asset” can be “mirrored,” not just US stocks. So you’ll also see your favorite cryptocurrencies like mBTC and mETH for example. Worlds within worlds. There are over 20 mAssets currently and new proposals are always in the works. COIN was approved within the past month and DOGE is in polling currently. These are assets you can buy and sell on the Terra platform. While the Mirror (Terraswap) price is dictated by the free market within Mirror, there is an Oracle price as well which we will discuss in part b when talking about Minting.

So you can buy and sell these mASSET’s just as you would on a traditional brokerage site however, the appeal is that you are able to do so 24 hours a day at minimal fees within the Terra ecosystem. Not to mention the significance of the doors here being wide open to all users around the world. The way to do start trading on Mirror is relatively straight forward and we will guide you through the basics here.

1. Go to Mirror and connect your wallet, the same as you did on Anchor.
2. Then go to the Trade tab and click the bottom scroll down icon to find whichever mAsset you wish to purchase.
3. Enter the amount of UST you would like to use to purchase in the top section and select the “Buy” option. You are now the proud owner of a Mirrored Asset! You will now see this balance on the top section of the My Page tab.
4. Whenever you wish to convert back to UST you will return to the Trade tab and go to the “Sell” sub-section. There you will do the reverse of the “Buy” sub-section and select which ever mASSET you would like to sell on the drop down of the top section and then input the amount of that mASSET you would like to convert to UST.

Your Mirror Dashboard

Now you will have some new data on the My Page tab. This is your Mirror dashboard. You will be able to keep track of all your mASSET’s holdings along with other things we will touch on later in this series. You will also be able to track all your Mirror transactions as well which you should now see after trading your first mASSET.

RnodeC

We’d be happy to answer any questions in our telegram or twitter. You can also find us in the Terra network discord and telegram communities.

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