♻️THORSynths
Synthetic Assets ("Synths") are a new all-in-one DeFi primitive built on THORChain.
Last updated
Synthetic Assets ("Synths") are a new all-in-one DeFi primitive built on THORChain.
Last updated
Synthetic Assets (“Synths”) on THORChain, are now natively integrated into THORSwap’s feature set. Synthetic Assets (“Synths”) are a collateralized representation of an asset on THORChain. These derivatives of cryptocurrencies such as Bitcoin, Ethereum, etc will always have the same value as the original asset.
Unlike Wrapped Assets, THORChain Synths are backed by THORChain Liquidity Pools, which contain 50% of the original asset and 50% $RUNE. THORChain Liquidity Pools ensure that the synth price always remains 1:1 with the native token price. Collateralization via pool ownership ensures always-on liquidity and pricing. In short, there is always a direct correlation between the Synth and the Assets which are being secured.
Read more about the specifications of Synthetic Assets on THORChain here.
