mirage assets

mirage assets track the price of real-world assets (RWAs) ranging from fiat currencies to Bitcoin. users can mint mirage assets by providing high quality collateral such as USDC and Aptos (APT), taking on an over-collateralized debt position.

on launch, our first mirage asset mUSD will be available with mAPT planned for a future release:

• mUSD - the mirage dollar serves as margin on the perps DEX. minters of mUSD act as the counterparty to traders, and as a result earn a significant portion of protocol fees. these fees go toward paying down the mUSD debt required to unlock deposited collateral. in this respect, mUSD functions as a self-repaying stablecoin loan.

• mAPT - mirage Aptos functions similarly to mUSD, except it will be used to settle Aptos options rather than trades on the perps DEX. we plan to accept collateral from top ecosystem liquid staked Aptos providers, such as Amnis and Thala, giving users the opportunity to further leverage their staked Aptos yield on top of earning fees from options.

mirage assets can also be used in a variety of leverage and hedging strategies across the Aptos ecosystem. for more details, see yield strategies.

in the future, mirage plans to implement yield-bearing strategies on deposited collateral to further accelerate the self-repaying mechanism. see Alchemix for more details on how this is possible.