New DeFi narrative are coming up everyday, moving along with the trends.
But i bet you didn't know about the
synthetic narrative.
It is here to stay for a long time
Let's talk about @synthr_defi
🧵🧵
#SYNTHRI #Bullish
WHAT ARE SYNTHETIC ASSET?
Synthetic assets are onchain derivatives that track the price of the underlying real world assets whilst being interoperable and
present on public ledger.
Let's say
I can buy a synthetic tesla stock rather than a real tesla stock.
WHY BUY SYNTHETIC?
♦️ 2️⃣4️⃣ hours Trading:
Synthetic don't have to follow rules of the real world since it is on the blockchain.
Buying tesla stock or other financial instrument would have it rules in the real world
♦️ Exposure and global access:
No geographical restriction to trading
♦️Decentralized:
Unlike the real tesla stock that is fully centralized, the synthetic asset is not controlled in some ways.
Users can mint synthetic by providing on-chain collateral to get price exposure to the asset without actually having
ownership.
One of the role defi synthetic plays is using "cryptocurrency" as collateral.
That exactly is what @SynthR defi does.
@synthr_defi protocol enables the creation of #onchain derivatives of synthetic assets that track the value of specific underlying
asset.
This SyAssets are decentralized and chain independent, allowing users to use multiple
chain with ease.
You can also swap your asset....
....across chains in the most capital efficient manner.
@synthr_defi has been deployed to over 8 chains including: @ethereum @BNBCHAIN
@arbitrum @cosmos @AvalaunchApp @aptos Network @0xPolygon @routerprotocol and more coming
$SNX is the native token and can be used for collateral.
This is a protocol with great utility and usage
"Long term hold"
#DYOR
Follow their Communities:
Discord: discord.gg/RKJdbKMB
Telegram:
t.me/synthrannounce…
t.me/synthrcommunit…
Twitter: @synthr_defi
Website: synthr.io
Gitbook:
synthrprotocol.gitbook.io/home/what%20is…
That will be all for today.
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