Average Price Shift for Synth Holders

Synths, is synthetics of crypto assets. Users can create synthetic versions of any coins using THORChain. Users can do this by adding $RUNE or a crypto asset to a THORChain liquidity pool. Synthetic assets from THORChain are distinct from other synthetic assets in that they are not solely backed by the underlying asset and do not require a high collateralization ratio. One of the reason why users might need synths is for trading the price movement. Using synth, you can trade $ETH cheaply. In this dashboard, we will take a look at the average price shift of each synths assets.

Graph below shows the daily synths mint and burning. We can see that the volume has increased since synths was first introduced in last March.

Graph below shows the average price of the assets during minting vs the price of assets during burning. We can think of minting price as buying price and burning price as selling price.

The price movement for each asset can be seen below. Most of the assets has positive price movement while some assets like BNB.TWT, ETH.AAVE, ETH.SNX and Terra.LUNA has negative price movement. Highest average gain was for ETH.FOX and ETH.THOR with 19.6% and 17.6% price increase respectively. The worst price fall was for native $LUNA token with -9%.

Synth is a feature that seem like small feature but it will have quite big impact down the road. For instance, future perpetual contract can be traded on THORChain just like we trade future perp on Binance or CEXes. In conclusion, THORChain are aiming to be the ultimate DEX and we can see that now synths has been used for trading.

flipside

flipside

Average Price Shift for Synth Holders