Kryptopriser -Mirrored Ether
meth
Mirrored Ether
NOK 15.69
24h: -0.23%7d: -5.56%30d: -20.15%1y: -35.94%
NOK 15.69
Mirrored Ether (mETH) is a synthetic asset designed to track the price of Ethereum (ETH). It operates within the Mirror Protocol, a decentralized finance (DeFi) platform that allows the creation and trading of synthetic assets, known as Mirrored Assets (mAssets).
mETH aims to mirror the price movements of ETH. Users can mint mETH by collateralizing other assets, such as TerraUSD (UST), on the Mirror Protocol. This process involves locking collateral to create the synthetic asset.
The primary purpose of mETH is to allow users to gain exposure to the price of Ethereum without directly holding the underlying asset. This can be useful for various strategies within the DeFi ecosystem, including diversification and hedging.