Mirrored Apple: A Synthetic Asset Tracking Apple Stock Price
The Mirrored Apple whitepaper was written and published by the Mirrored Finance core team in Q4 2024, aiming to address the growing demand for synthetic traditional assets in the decentralized finance (DeFi) sector, and to provide crypto users with a new way to invest in the assets of top global companies without holding actual stocks.
The theme of the Mirrored Apple whitepaper is “Mirrored Apple: Innovative Practice of Decentralized Synthetic Assets.” What makes Mirrored Apple unique is its precise anchoring to the price of Apple Inc. stock (AAPL) through a collateral minting mechanism and oracle price feeds; the significance of Mirrored Apple lies in offering DeFi users on-chain exposure to traditional assets, significantly lowering the threshold for participating in global stock markets, and enriching the diversity of decentralized investment portfolios.
The original intention of Mirrored Apple is to bridge the gap in liquidity and accessibility between the crypto market and traditional financial markets. The core viewpoint presented in the Mirrored Apple whitepaper is: through a decentralized synthetic asset protocol and transparent minting and burning mechanisms, users can enjoy a secure, efficient, and verifiable traditional asset investment experience without the need to trust third parties.