RAMP are thrilled to share latest collaboration with Mirror Protocol to launch auto-compounding vaults for Mirror synthetic assets on the Binance Smart Chain.

Mirror is a synthetic assets protocol built on the Terra blockchain that offers on-chain price exposure to real-world assets, including stocks, commodities, crypto, and ETFs. Synthetics, called mAssets, on Mirror are synthetic, tokenized representations of real-world assets pegged to their prices via a series of arbitrage incentives and oracle feeds.

Community-governed, Mirror allows users to mint mAssets (synthetics), trade mAssets on multiple cross-chain DeFi protocols, and LP mAssets on Terra, Ethereum, and Binance Smart Chain. With over $2 billion in TVL, Mirror is one of the fastest-growing synthetic asset protocols in DeFi.

Auto Compounding RAMP Vaults for Mirror Synthetic Assets Pairs on PancakeSwap

Mirror and Luna users farming on PancakeSwap using UST or Mirror synthetic stock assets can deposit their Pancake LP assets into RAMP to auto-compound their positions for enhanced APY.

The supported assets are:

MCOIN-UST FLIP LP Token

• APR before compounding: 69.98%
• APY after compounding: 101.2%
• Improvement: +31.02%

MIR-UST FLIP LP Token

• APR before compounding: 24.12%
• APY after compounding: 27.27%
• Improvement: +3.15%

UST-BUSD FLIP LP Token

• APR before compounding: 10.51%
• APY after compounding: 11.08%
• Improvement: +0.53%

APR and APY numbers are as at the time of writing.

The CAKE farmed by the vaults is compounded back into underlying LP token assets daily, allowing users to consistently grow the size of their original LP positions.

Borrowing Against Synthetic Assets

For the MCOIN-UST vault, users are also able to borrow against these assets to unlock liquid capital in the form of rUSD by collateralizing their MCOIN-UST assets on the RAMP platform, even as they continue to enjoy APY of over 130%.

rUSD can then be swapped for any other tokens, such as MCOIN, MIR, RAMP, BUSD, or USDT, directly on PancakeSwap.

MCOIN-UST Vault Parameters

• Asset: MCOIN-UST FLIP LP token
• Reward Token: MCOIN-UST FLIP LP token
• Strategy: The MIR-UST FLIP LP token deposits are deployed into its PancakeSwap farm. Any CAKE tokens farmed are converted into more MIR-UST FLIP LP tokens and accrued back into the original deposit pool. Users will automatically have their deposits grow over time.
• Asset APY: 69.09% as at time of writing
• Minimum Collateralization Ratio: 500%
• Max rUSD Mintable Capacity: 500,000
• Liquidation Ratio: 130%
• Mint Fee (Daily): 0.002740%
• Liquidity Fee: 0%
• Deposit Fee: 0%
• Withdrawal Fee: 0%
• Yield Share (Daily): 0.002740%

MIR-UST Vault Parameters

• Asset: MIR-UST FLIP LP token
• Reward Token: MIR-UST FLIP LP token
• Strategy: The MIR-UST FLIP LP token deposits are deployed into its PancakeSwap farm. Any CAKE tokens farmed are converted into more MIR-UST FLIP LP tokens and accrued back into the original deposit pool. Users will automatically have their deposits grow over time.
• Asset APY: 24% as at time of writing
• Liquidity Fee: 0%
• Deposit Fee: 0%
• Withdrawal Fee: 0%
• Yield Share (Daily): 0.002740%

UST-BUSD Vault Parameters

• Asset: UST-BUSD FLIP LP token
• Reward Token: UST-BUSD FLIP LP token
• Strategy: The UST-BUSD FLIP LP token deposits are deployed into its PancakeSwap farm. Any CAKE tokens farmed are converted into more UST-BUSD FLIP LP tokens and accrued back into the original deposit pool. Users will automatically have their deposits grow over time.
• Asset APY: 10.37% as at time of writing
• Liquidity Fee: 0%
• Deposit Fee: 0%
• Withdrawal Fee: 0%
• Yield Share (Daily): 0.002740%

The above parameters are applicable at the time of writing and may be changed at any time subject to market conditions. For the most up to date parameters, please visit: https://docs.rampdefi.com/rampdefi/governor-parameters

About Mirror

Mirror is a DeFi protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price behavior of real-world assets and give traders anywhere in the world open access to price exposure without the burdens of owning or transacting real assets. Mirror is a community-governed project that seeks to unlock the wealth creation of major asset classes to users around the world via a permissionless access model.

📰 INFO

https://medium.com/rampdefi/ramp-launches-mirror-synthetic-asset-vaults-at-up-to-91-apy-a5baa8ba6b9d