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.
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