Mirror Wallet grants anyone in the world the ability to invest in synthetic assets tracking popular US stocks like Apple, Google, Tesla, and Netflix
SINGAPORE, Dec. 17, 2020 /PRNewswire-PRWeb/ -- Mirror Wallet—a fully non-custodial wallet maintained by ATQ Capital—launches with a trading experience to rival the $11 billion-valued stock trading app Robinhood. Mirror Wallet allows users to purchase synthetic assets tracking the prices of the 12 most popular US technology stocks, including Apple, Google, Tesla, Netflix, Twitter, Microsoft Corporation, Amazon and Alibaba, using TerraUSD. Bitcoin and tether will soon be accepted for purchase of synthetic assets as well. Users of Mirror Wallet can purchase fractional shares, which, given the expense of top-trading stocks, further increases accessibility.
Chee Lee, Managing Director of ATQ Capital, which operates the Mirror Wallet, conveyed, "We are particularly excited about supporting the Mirror Protocol recently debuted by TerraForm Labs through the delivery of the Mirror Wallet. With an elegant and intuitive user interface, Mirror Wallet's trading experience is comparative with Robinhood. Just as Robinhood made stock trading accessible to millions of Americans, we anticipate Mirror Wallet could make US equities accessible to the millions of users worldwide who haven't previously been able to participate in the US stock market."
Michael Arrington, Partner at Arrington XRP Capital, expressed, "Synthetic assets are one of the most transformative innovations in finance, and are likely to take DeFi to the next level. The appetite for US equity investments is strong and growing worldwide. Mirror Wallet allows anyone with an internet-connected device to gain exposure to those highly sought-after US stocks."
Do Kwon, Co-Founder and CEO of Terraform Labs (TFL), the group behind Terra and the Mirror Protocol that Mirror Wallet is built on, shared, "I'm most excited by what the Mirror Wallet will provide to those who have been disenfranchised from global financial systems. Now anyone in the world with an internet-connected device can invest in synthetic assets tracking top US stocks like Apple and Amazon."
Kyle Samani, Managing Partner at Multicoin Capital, said, "Enabling the democratization and global access of synthetic assets is one of the biggest opportunities in crypto. We are excited to see Mirror fulfill that vision."
Mirror Wallet is built on Mirror Protocol, the first synthetic assets protocol that tracks the price of stocks, futures, exchange-traded funds, and other traditional financial assets. By enabling the minting of synthetic assets—Mirrored Assets (mAssets) that "mirror" the price behavior of real-world assets by reflecting the exchange prices on-chain—Mirror Protocol democratizes access to US equities and other assets that have been historically difficult to approach for anyone based outside of the United States.
New assets beyond the initial 12 synthetics tracking the most popular US technology stocks can be introduced by anyone holding MIR tokens—the governance token of the Mirror Protocol. The proposal would be put to a vote, and if the Decentralized Autonomous Organization responsible for Mirror's governance passes the proposal, the new asset would be added.
To reward the most active traders on the Mirror Protocol, eligible users will be airdropped additional UST as a promotional reward through the mobile wallet. Users will be airdropped additional UST prizes prorated to their individual trading volume recorded on the counter below:
Total Prize Pool: 100,000 UST
Minimum Trading Volume (to be eligible): 50 UST
This promotion will run for 2 weeks from December 17th.
For media inquiries, please contact Kili Wall at (310) 260-7901 or Kili(at)MelrosePR(dot)com.
About ATQ Capital
ATQ Capital, a privately-held and self-funded venture firm, focuses on investment in blockchain technology, digital assets and DeFi platforms. ATQ Capital has participated in strategic and seed round investments as well as acquisitions of early stage, pre-listed assets in cryptocurrencies and tokens. ATQ Capital's technical team continues to drive dapp innovation and advance development of the blockchain ecosystem.
Disclaimer: Mirror Wallet may not be available for use in some jurisdictions, and may have limited functionality in others. Users should do their own research to determine whether using Mirror wallet is compliant with local securities regulations.
Kili Wall, Melrose PR, 310-260-7901, firstname.lastname@example.org
SOURCE Mirror Wallet