Mirror Protocol
MIR
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Mirror Protocol (MIR) is evaluated as a defunct and abandoned legacy synthetic-assets protocol following the May 2022 collapse of the Terra blockchain. Two sections lacked sufficient active data to generate numeric scores: Active Development (-1.0) and Community Support (-1.0), reflecting zero recent commits, zero governance proposals, and an inactive community footprint in 2025-2026. After redistributing weights proportionally across the remaining four sections, the evaluation yields a low overall score of 1.7.
Tokenomics (3.0) suffers from non-transparent supply structures, broken demand mechanics, and complete dependence on a failed ecosystem. Market and Use Case (1.0) is effectively non-functional, marked by collapsed liquidity, negligible trading volume, and a ~99.97% drawdown from all-time highs. Team and Governance (1.5) reflects an inoperative decentralized governance mechanism and an abandoned platform. Security and Audit History (1.0) highlights repeated confirmed exploits, including a May 30, 2022 lock-contract exploit documented by BlockSec, subsequent mAsset trading halts in October 2023, and a total absence of third-party audit verification. Given its defunct and moribund status, MIR represents an unviable asset.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Mirror Protocol (MIR)
Mirror Protocol (MIR) is a defunct and abandoned synthetic-asset protocol originally built on the Terra blockchain by Terraform Labs. The platform was designed to allow users to mint and trade synthetic assets that tracked the prices of real-world assets, including equities and commodities. MIR served as the platform's governance and staking token, granting voting rights on protocol parameters and management over the community pool.
Following the collapse of the Terra blockchain in May 2022, Mirror Protocol became non-operational and experienced severe operational, security, and market failures. The protocol suffered multiple security breaches, including a confirmed exploit on May 30, 2022, involving lock-contract vulnerabilities and 100,000 USTC, followed by operational breakdowns in October 2023 when trading on synthetic asset pairs was halted. Additionally, the token suffered from exchange delistings, developer litigation, and a lack of verifiable third-party smart contract audits.
Due to the collapse of its underlying collateral ecosystem and governance mechanisms, MIR experienced a severe market crash, falling roughly 99.97% from its all-time high of $12.86. The protocol maintains no active core development, software releases, or governance proposals, leaving MIR as a legacy residual token with collapsed liquidity and no active utility.