DAOTOOL#101#2: Mirror - A Toolkit to Support the Sharing and Funding of Anything from Anywhere.
0x1552
May 26th, 2022

What is Mirror?

The Mirror is an “essential Web3 toolkit for sharing and funding anything”, a Web 3.0 publishing platform that offers a suite of tools that empower anyone by bringing them one step closer to achieving the full potential of their content. It is also Ethereum's first great alternative to mainstream publishing platforms like Medium and WordPress.

Some of their highlights:

Importance of Mirror

Now anyone could put out anything that they've published as NFTs, enabling their biggest fans to support them and become early investors in their work. Readers could send tips and receive tokens as a reward for supporting their favorite writers which results in building a vibrant community and Mirror provides smart contracts for crowd-funding a new initiative directly from the writings.

All this by completely circumventing advertisers who constantly interrupt your reading flow by getting in your face with messaging hints at every visit!

How does Mirror.xyz Work?

Mirror uses Arweave to permanently store users' content. The average cost of storing data on the decentralized storage protocol currently is $0.01 per gigabyte, which Mirror takes care of for its users. In doing so, they are able to offer free publishing services. Additionally, unlike traditional online platforms that require strenuous login processes and accounts, Mirror uses

"Sign in with Ethereum" method for authentication. It makes independent verification possible through a non-Ethereum keypair that signs the posts and is stored in Arweave which then is paired with the writer’s Ethereum address. Nobody has to disclose any private information, no need to sign up for an email account, and no need to create a new password.

Key Features

  • Mirror Editor

This text editor and publisher lets users build posts with media blocks. eg: Images, crypto-economic blocks, and embedded auctions.

  • Crowd Funding

Mirror lets users crowdfund a project, i.e. an Ethereum smart contract for raising funds, via its text and media blocks - like videos. Contributors receive a token(ERC20) that represents their participation and ownership in the project.

  • Splits

Split is an ERC20-compliant smart contract-based payments routing mechanism that lets creators allocate funds from auctions or donations to “collaborators, the people that have inspired you, or to donate proceeds from your work.”

  • Entry NFTs

Posts on Mirror can be minted as 1/1 non-fungible tokens. This means that they are collector items that anyone who wants a souvenir of this moment in time or just an avid fan can help the creator get some financial backing for the creation of future projects!

  • Edition

Functionality for creating a limited supply of identical NFTs at a fixed price, e.g. 100 pieces of crypto-art. This new feature will bring about an exciting new implementation for non-fungible items and will allow users to create fixed editions, as well as trade and identify digital art through various methods on the blockchain with ease.

  • Entry Editions

Creators can use this tokenization system to mint their Mirror posts as limited-edition NFTs instead of 1/1s.

  • Tokens

A decentralized frontend for easy ERC20 token minting and distribution of governance tokens to build vibrant communities.

How to create a Crowdfund?

1. Head over to mirror.xyz and connect your wallet.

Click on "Connect Wallet"
Click on "Connect Wallet"
Select your wallet, choose your account & connect.
Select your wallet, choose your account & connect.

2. Go to Dashboard.

Click on " Visit Dashboard "
Click on " Visit Dashboard "

3. To skip every interaction allow remembering you.

Click on "Remember me" and click on "Sign" button.
Click on "Remember me" and click on "Sign" button.

4. To set up crowdfund select Crowdfund and click on “Create Your First Crowdfund”.

Click on "Create Your First Crowdfund" button.
Click on "Create Your First Crowdfund" button.

5. Fill out ‘Basics’, “Goal and funds”, “Token”, “Story” & “Go live”. Required

Select each of them and fill out the required details.
Select each of them and fill out the required details.

5. Fill out the required details(Basics).

Give a title, and image and save it.
Give a title, and image and save it.

6. Fill out the required details(Goal and funds).

Set the amount.
Set the amount.

7. In the Funds recipient section fill the wallet address to receive funds.

After filling out the details click on "Save and Continue"
After filling out the details click on "Save and Continue"

8. Fill out the required details(Token).

Fill out the form as you see fit and save it
Fill out the form as you see fit and save it

9. Fill out the required details(Story).

Describe your crowdfund, Add Story Content and save it.
Describe your crowdfund, Add Story Content and save it.

10. Verify the filled-out required details(Go live).

Edit if required or mark it correct.
Edit if required or mark it correct.
Edit if required or mark it correct and click on Deploy Crowdfund.
Edit if required or mark it correct and click on Deploy Crowdfund.

11. Confirm the transaction and your crowdfund is live!

Confirm the transaction.
Confirm the transaction.

The Crowdfund will be live after the confirmation!!

Summary

Mirror is a tool owned and controlled by the users that’s helping users to express their own content in the way they see fit without limitation and additional tools even for beginners with templates to do from minting NFTs to Crowdfunding a cause or idea which represents the coming age of decentralized networks and blockchain technology as a whole.

Useful links

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