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    Synth Mints + Burns

    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. In this dashboard, we will take a look at synths mints and burns metrics since synths was introduced on THORChain in early March this year.

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    Graph below shows the daily mint and burns of all synth assets. The highest volume of synth minted was over 30M USD and same goes for burns. We can see that both mint and burn volume has increased recently.

    BUSD is also the most popular assets for burning as shown in graph below.

    BUSD always tops the chart as most minted assets. We can also see $UST being minted as synth as soon as it was integrated to THORChain.

    BNB.BUSD is by far the most popular synths on THORChain, followed by native BTC, native ETH and then the newly added asset, native $UST.

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    In addition, synths has become more popular recently, as shown in volume transacted since it was introduced. Most of the synths involved either stablecoins such as BUSD, UST, USDC and also main native assets such as BTC and ETH.