MIRA, a decentralized exchange (DEX) on Fuel Ignition, has achieved over $6 million in total value locked (TVL) shortly after its October launch. According to DefiLlama data, the platform saw a record $6.2 million in deposits on October 19. After a brief correction, the TVL stabilized at $6.1 million.

MIRA functions as an automated market maker (AMM), hosting multiple pools for traders and liquidity providers. The platform plans to transition to a ve(3,3) model, integrating Curve’s vote escrow (ve) system with OlympusDAO’s (3,3) staking mechanism.

The most popular tokens on MIRA are Wrapped Ethereum (WETH) and USDC, each accounting for over 30% of the platform's assets, followed by ezETH and USDT, each representing over 16.5%. The largest pools by TVL are ezETH/ETH and USDC/USDT, with nearly $2.4 million and over $2.2 million, respectively.

MIRA's daily trading volume has consistently exceeded $1 million since its launch, reaching a peak of $2 million on October 23. The platform is based on Fuel Ignition, an Ethereum layer 2 network developed by Fuel Labs, which aims to enhance decentralization, speed, and accessibility. Fuel Ignition currently hosts three DeFi applications, including MIRA, with a collective TVL of $35 million.