Mirror allows users to mint, trade, and short synthetic assets which track the price of real world assets: such as stocks, index funds, and futures.
Mirror is a project native to the Terra Money chain, but was also ported to Ethereum for cross-chain usage. The stablecoin of Terra is UST, so all of the pairs on Mirror have UST as one of the tokens.
Mirror assets (mAssets)- These are minted by Mirror users on the Terra chain. After their recent V2 upgrade, users also now have the ability to short assets by minting + selling them in one step.
Which mAssets can be minted are decided by Mirror protocol governance proposals, which are voted on in the Terra side of Mirror protocol.
Mirrored assets are ERC-20 tokens, just like most of the other tokens you see in Ethereum, but these are designed to follow the price of the real world assets they mirror.
The rest is supply and demand. Some mirror assets are priced slightly higher than the oracle price due to the market demand for farming.
Farms - Stake LP tokens for mAsset-UST pools which earn MIR as a reward. Each pool will be made up of one mirrored asset (mAsset)