mirage protocol
@mirage_protocol
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325
liquidity layer | yield-bearing stablecoin | trade perps on the mirage market | testnet v2 live
Joined September 2022
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Pinned Tweet
curious how mirage and mUSD integrate within the larger Aptos ecosystem?
we designed mUSD to work with top projects like
@AriesMarkets
@AmnisFinance
@ThalaLabs
@Merkle_Trade
check out our latest medium article for more details:
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super excited to be at
#AptosSummit
!
@Aptos_Network
has put together a great week for us, today was just the beginning
if you're looking for us just find
@mas1money
with the mirage logo dyed into his hair 😅
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happy to announce mirage is a recipient of a grant from
@Aptos_Network
! a big thanks to them for their continued support. we’re looking forward to auditing and open-sourcing key contracts and are super excited to show some love to our community as well. stay tuned!
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had a great week at the
#AptosSummit
!
new ecosystem partnerships, 1on1s with the entire
@Aptos_Network
team, and a great lineup of guests and speakers
special thank you to
@aptAlix
for organizing the event and
@zacharyr0th
for everything he's done behind the scenes to build
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@MoveGPT
's launchpad is releasing in a few days! we've teamed up with them to offer 10 whitelist spots on their platform - these are very important to participate in early project launches! all you need to do is:
1. follow both
@MoveGPT
&
@mirage_protocol
2. join the MoveGPT
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introducing mirage protocol | synthetic asset & perps dex | built on Aptos
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introducing mUSD - the yield-bearing stablecoin at the center of mirage
take a closer look at how we've built a dynamic stable that generates yield from DeFi protocols built on top of it
mUSD is the gateway to Aptos DeFi!
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🚀 Experience lightning-fast transactions with
@Aptos_Network
x
@PontemNetwork
x
@mirage_protocol
. On testnet now!
#Aptos
#DeFi
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last week we officially submitted mirage for audit with
@MoveBit_
! we are proud to be the largest aptos project they’ve audited, second only to the MoveVM.
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🌍 Mirage Protocol is bringing real-world assets (RWAs) to
#Aptos
! Explore new opportunities in trading, staking, and lending with mirage assets. 🚀 Join our community:
Learn more:
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what i'm looking forward to the most during
@aptos
defi days in hong kong:
- hanging out with all the builders and wonderful aptos team
- alpha-packed panels (including one featuring our cofounder
@mas1money
)
- showing off mirage to the 70+ VCs in attendance
- most
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gonna be a good one. tune in for the latest news about mirage and the rest of aptos defi. there might even be an exclusive announcement 😌
The future of finance is happening on Aptos. 💪
Join us on X Spaces this Wednesday, December 13 for an Aptos DeFi Deep Dive.
Listen and learn from the projects pioneering the open finance revolution on Aptos.
Set a reminder 📅👇
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to celebrate
@aptos
reaching $350m TVL, we've teamed up with some of the top defi projects in the ecosystem for a series of galxe quests - complete all quests for a chance to win a share of the $4000 prize pool 😃
$500m coming soon!
the quests are live here:
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aptos defi days was a blast. always fun reconnecting with team and builders we've become quite close with. more than ever we are super excited to launch our protocol and join our friends on mainnet. soon. 🏝️
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"Aptos flips Solana in the layer one game"
interesting remarks from
@CryptoHayes
recently. does he know something we don't? 🤔
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our testnet v2 is officially live! check it out at . user feedback -> optimizations -> trading contest -> mainnet 😁
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one more hour until we go live with aptos!
Howdy,
#Consensus2024
! 👋🤠
We're LIVE from Austin, TX this morning at 10am CST! 👉
Chat with Aptos Foundation,
@AptosLabs
,
@mirage_protocol
about:
🔹DeFi & NFT innovation
🔹Release updates, like Aptos Keyless, Randomness
🔹Global builder events & more!
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"why isn't anyone building this on Aptos?" listen as
@tarunchitra
lays out the opportunity for stablecoin protocols on SVM and Move
we agree - we built mUSD to utilize the idle high quality collateral on aptos and give users the ability to earn additional yield on it
testnet
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72 hours. mirage testnet. an oasis of assets awaits
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mirage is built different - you won't find an equivalent protocol on any other chain because it simply couldn't have been built there
@briannwongg
whats neat about aptos objects is that the smart contract can manage access control while another EOA or smart contract owns the object
on
@mirage_protocol
users own their vaults and trade objects. at the same time the protocol manages the resources inside the object and can
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did you catch our demo at MoveCon? a lot of alpha if you look closely...
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you don't want to miss this -
@alnoki_
and our own
@moon_shiesty
are two of the best devs on aptos, with each bringing a unique approach to powering capital efficiency on-chain
@moshaikhs
@hashed_official
Day 1 - 14:20pm KST | Move It or Lose It: Powering Capital-Efficient Liquidity On-Chain
Liquidity is the lifeblood of DeFi. Moderated by
@LoganJastremskim
let's unpack how to achieve capital efficiency on-chain.
Featuring:
•
@alnoki_
, Co-Founder & CEO
@EconiaLabs
• Julian
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aave pretty much invented defi. now they are evolving with it. 👍
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this is huge for the entire ecosystem. welcome
@OndoFinance
!
The Aptos network is powering up the open finance revolution! The Aptos Foundation and
@OndoFinance
are partnering to combine the reliability of traditional finance with the efficiency and accessibility of blockchain technology — starting with the native integration of Ondo's
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mirage team has arrived in denver! we'll be around all week and are giving a demo at MoveCon (hosted by
@MoveDAO_
and
@SUPRA_Labs
). reach out if you'd like to connect or want to hang at the miragebnb
if this doesn’t make you bullish on mirage idk what will 🏝️
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giving a demo tomorrow at
#MoveCon2024
!
TUE FEB 26 @ ETHDenver: Make your move with Aptos at
#MoveCon2024
!
Join us for a keynote address from
@AptosLabs
CTO
@AveryChing
, plus two insightful panels and demos featuring
@EconiaLabs
@Lyncworld
@mirage_protocol
@PontemNetwork
@TowneSquarexyz
!
🎟️ Discover the best of Move
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our v1 testnet is officially winding down, thank you to everyone who participated and provided feedback! what to look forward to in v2:
-ui improvements ✅
-aptos fungible token support 🪙
-testnet trading contest with usdc + other prizes 💰
-more lowercase 😌
on mirage v2,
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movement is big for the entire space. once EVM users and developers experience the move stack, there’s no going back
#gmove
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@Aptos_Network
that's right - building on Aptos has allowed us to offer a lightning fast experience with the lowest fees in web3. loved this space!
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We are super excited to reveal our new logo - welcome to mirage!
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@0xMert_
we looked at developing on both - they have great tech primed to power the next wave of dapps which is what drew us to them initially (like many, we came from solana)
we really liked both teams, but ultimately aptos were the ones who made us feel most welcome and supported
we
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as we approach testnet launch, let's take a deeper look into mirage protocol and how it utilizes a unique synthetic liquidity model to deliver supercharged yields and power the best on-chain trading experience 🧵
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layerzero has done a great job making bridged USDC feel native, but native stables are a necessary building block in a mature defi ecosystem. why we’re excited about tether:
on and off ramping - easy stablecoin transfers to/from cex, avoiding bridge fees and risk. much easier
.
@Tether_to
$USDt is coming to Aptos. What does this mean for our mission of making Web3 more globally accessible, powered by Aptos' advanced tech?
Let's dive into the details 🧵 (1/4)
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composability is at the center of mirage. high quality assets from top defi projects like
@AmnisFinance
and
@ThalaLabs
can be used as collateral to mint mUSD. we are also working closely with RWA protocols coming to aptos, such as
@OndoFinance
's yield bearing USDY and others
DeFi on Aptos is accelerating innovation in Web3.
From foundational infrastructure to infinite composability, learn more about DeFi’s path to progress from
@zacharyr0th
(
@AptosLabs
).
Want more? Listen to the whole Aptos DeFi Deep Dive:
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🎉 it's time! mirage protocol is now live on testnet! come experience firsthand a look into what we've been building over the last year. stay tuned - next week we announce our first incentivized trading contest! 🏆
👇👇
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imagine having to manage an appchain. aevo has had issues recently as well. this is one of the reasons we chose to build on
@Aptos
where we won't run into performance issues down the line
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us but not for much longer 🤫
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1/ as we approach our incentivized testnet, let's take a deeper look into mirage and how it utilizes a unique synthetic liquidity model to power the best on-chain trading experience 🏝️⬇️
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native token yield + staking rewards + perps fee share + stablecoin to replace traditional LP token = fully integrated perps product
perps DEXs are so much better when plugged into the larger defi ecosystem and integrated with native tokens. there's a reason why GMX and JUP perps have larger tvl than hyperliquid despite being generations behind in terms of performance and asset selection: you can participate
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the two founders of move
@moon_shiesty
@wgrieskamp
Trust me, you want to be part of this conversation.
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excited as always to join aptos after dark! will leak as much alpha as we possibly can
Join us this week,
@hiAtreyu_
and I will be talking to two teams that have very big visions for the future of
@Aptos
community and defi!
We’ll have the team from
@APTopia_xyz
,the cult that aims to change the community landscape, and
@mirage_protocol
, who are going to take defi
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tune in tmmrw for some aptos alpha brought to you by the best hosts
@SpooksLabs
Let's talk about innovations in Aptos DeFi at SpooksSpace tomorrow!
This time with us:
@AmnisFinance
@Merkle_Trade
@CellanaFinance
@VibrantXFinance
@EchelonMarket
@mirage_protocol
Aptos builders live! Ask anything ⬇️
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When we started building Mirage, we knew we had to go beyond the limitations of the current on-chain trading experience. We chose Aptos as our foundation, refusing to be limited by the constraints of L2s utilized by other popular perps DEXs. I think we made the right choice 😃
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this went under the radar but we've been thinking about it a lot. bitcoin collateral for mUSD - another infinity stone in the mirage gauntlet
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a successful points system must:
-promise nothing (keep expectations low but aim to overdeliver)
-reward the most valuable actions (LP, fees, volume, etc)
-be liquid (allow price discovery + early exit for low conviction users)
-be fun/secondary to dapp (users should use your
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multi asset liquidity pools like
@JupiterExchange
's $JLP work great as an index, but in positive market conditions expose LPs to serious impermanent loss. deposit $SOL into JLP and half of it is sold into stables. a tough ask for LPs who want to keep their exposure to SOL
to
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super excited for next week!
What happens when 35+ premier Aptos projects from around the world fly to the same location for 1 epic week?
The Aptos Ecosystem Summit™ is coming. Stay ready.
#MakeYourMove
🫡
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definitely, we have this implemented on some level and have plans to go further
for highly correlated assets like USDC/mUSD, we can set efficient collateralization ratios, our target is around 110%. volatile pairs such as APT/mUSD are higher risk, so we'll require users to
maybe Mirage will have some dynamic LTVs in the future to further increase their already capital efficient capital efficiency ?
aka
- x coin and y coin has historical correlation of 0.8
- x coin and usd has historical correlation of 0.2
- trader deposits x coin and can
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our founder
@moon_shiesty
sharing some insight into how mirage leverages the newest
@aptos
standards to build a truly composable defi protocol
@Greg_Nazario
@alnoki_
@adamcader_
we started building
@mirage_protocol
around aptos mainnet. since then aptos has released Objects, FungibleAssets (FAs) and DigitalAssets (DAs). these features were so powerful we've taken the time to write mirage v2.
i have a vision of the future of aptos, where every object
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😏😏
the Aptos ecosystem is just heating up
the amount of high-quality teams launching products over the next two months is incredible
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Lastly, a special thanks to
@tetrashapes
for bringing our vision to life. Their expertise, creativity, and dedication shine through in every detail. Couldn't have done it without them! 🙌
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we've expanded a bit on the two approaches to building perps.
TLDR: despite offering a vastly improved experience, siloed perps like hyperliquid still don't attract the liquidity of top DEXs on general purpose blockchains. whoever can bring their CEX-like experience to a
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is the 140% APR offered by JLP worth the tradeoff of a potential 2-5x that your SOL could otherwise easily make?
multi asset pools like JLP sell off 50% of your tokens for stables, exposing you to serious impermanent loss during bull
wouldn't you rather keep your liquid staked
May have just made either the best or worst longer term play.
Unstaked a HUGE chunk of my Liquid $SOL.
Instead of earning the 8-9% I've decided, I'm going to become the book.
What i mean by that...
In this space, the degens LOVE to leverage trade.
How can you capitalize on
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tune in if you're interested in decentralized options...definitely something we want to bring to
@Aptos_Network
!
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new docs btw
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super excited to see new dapps powered by Econia's order book. we might even have an integration of our own in the future 😁
1/3 Econia is now live on
@Aptos_Network
Mainnet!
This is just the start of Econia Labs' journey to bring efficiency and accessibility to the DeFi space 🌐
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Big announcements coming over the next few days, stay tuned 😁
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as on-chain perps mature, two distinct approaches have emerged: siloed and composable. they both come with unique tradeoffs that affect LPs and traders in different ways. let's take a closer look:
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we agree - and that's why we're building mirage - lowest fees, great UI/UX, best in class security, all while offering the widest range of assets. 😁
in a space with dozens of perps DEXs, where would you choose to trade? what's your top priority? 🤔
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happy new year! 2024 is shaping up to be a huge year for mirage and
@Aptos_Network
. Q1 is gonna be a blast 😋
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With the release of
@AptosFoundation
mainnet, we are excited to bring your favorite synthetic assets from other chains. What are you looking forward to trading most?
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What's next? We are working closely with partners within Aptos and across web3 to build the most accessible and intuitive trading platform. Keep an eye out for more details, including our testnet trading contest with cash prizes and rewards for early adopters. 👀
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we are always on the lookout for more robust collateral options - how do MOD and thAPT sound as collateral for minting mUSD, mAPT?
Thala is now a Pyth data publisher, supplying prices for assets such as THL, MOD, and thAPT.
This enables developers and protocols to easily and quickly access the on-chain prices of these assets through Pyth.🔮
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sometimes we build so hard we forget to tweet. the good news is our DEX is almost ready for testnet. are you ready trade all of your favorite assets - crypto, stocks, and commodities? stay tuned 🏝️😎
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gold and other commodities will be be available to trade on mirage perps, but would like to see tokenized versions to accept as collateral. i know a project coming to aptos with this capability in place 🤫
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Stay safe everyone!
We’ve received official communication from Aptos Foundation that
@Aptos_Network
has been compromised.
The latest tweet regarding an $APT airdrop is fraudulent.
Please DO NOT engage with that tweet or the link provided.
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great research from ostium. we avoided pool-based liquidity on mirage for multiple reasons touched on in this thread. we feel our synthetic liquidity model is more flexible and offers an unparalleled simplicity. looking forward to seeing how both approaches mature this year
1/ We’re excited to kick off 2024 by sharing our new research paper!
In it, we present the Imbalance Score, a new metric for measuring protocol risk in pool-based perpetual DEXes, with a specific focus on the impact of Real World Assets.
More below ⬇️
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a lot of great feedback from our first week on testnet! the team is making a few improvements and then it's time to launch our trading contest with usdc and nft prizes! all types of activity will be rewarded, not just PnL 👀
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of all the conferences we've been to over the past year,
#AptosDeFiDays
by far provided the most value for our team. a great mix of builders, institutions, and VCs under one roof
🌐 Aptos (network) effects — global Web3 growth, built on meaningful connections and collaborations.
Day 2 of
#AptosDeFiDays
harnessed the power of the “Aptos Village” with more expert-led panels focused on the future of finance.
Big thank you to our esteemed Day 2 speakers:
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study
@moon_shiesty
@alnoki_
@Aptos
@david_wolinsky
I’m thinking about Aptos software stack on high-performance hardware with high speed interconnect in a similar setup (of course with additional hardware for cryptography and repeated computation per blockchain requirements) and some new software changes we haven’t discussed yet.
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A small preview...
@ecdsafu
➡️
@squidrouter
@MariaShen
➡️
@ElectricCapital
@sunnya97
➡️
@osmosiszone
@AveryChing
➡️
@Aptos_NetworK
@hosseeb
➡️
@dragonfly_xyz
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make sure to tune in!
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soon.
aptos ecosystem gna cook so hard once the airdrops start coming in 🔥
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@CryptoGideon_
perps DEXs have proven to be one of the few sources of real yield even through rough market conditions. looking forward to joining this list soon 😌
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