Altcoins Talks - Cryptocurrency Forum
Archive => Sorting Box => Topic started by: Boboye Lincoln Adeyemi on December 21, 2021, 09:59:42 AM
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I was discussing with a more experienced friend of mine yesterday and he introduced me to a Platform called youves (you can research it) where synthetic assets are minted, staked, and saved. I'm thinking of investing in it, however, I want to gather the opinion of people who have invested in synthetic assets in the past.
PS: A synthetic asset is simply a tokenized derivative that mimics the value of another asset.
Here are just a few advantages synthetic assets have over traditional derivatives:
Anyone can issue them: Blockchain-based synthetic assets can be minted by anyone using open-source protocols like Synthetix and Mirror.
Worldwide liquidity: Synthetics can be traded on any crypto exchange in the world, including unstoppable decentralized exchanges.
Borderless transfers: Synthetic assets are blockchain assets like ERC-20 tokens; you can send and receive them between standard cryptocurrency wallets.
Frictionless movement: Switch between equities, synthetic silver/gold, and other assets without having to hold the underlying asset.