Introduction

Rune is substituted for a synthetic asset in a pool to create Synthetic Assets (or by changing an asset into RUNE and then adding it). Minting is the term for this process. Synthetic Assets are destroyed when you trade a Synth for a Rune. This is known as "redeeming" or "burning." A Synthetic Asset can be redeemed for Rune at any time (or swapped to Rune then to an asset). Synthetic assets have the same value as traditional assets and may be redeemed 1:1. You'll obtain 1 Synthetic BTC if you swap 1 BTC for 1 Rune and then mint Synthetic BTC. This may then be converted to Rune and exchanged for 1 BTC for a cheaper price.

Methodology

Here the activity is accounted from both swaps and transfer activity by aggregating the on-chain data for synthetic assets with '/' and they are accounted in numbers as well as over time to see how the activity of the users varies.

The count of the assets that have swapped their synth assets is listed here.The number of assets is calculated.

The pool which is used to swap the synth assets is charted.The only pool is THOR.RUNE

The activity of the users in swapping the synths over time is charted for here.Now let us look into the transfer data.

The activity of the users with the transfer of the synthetic assets is charted for the chosen period of time. It is seen that the different pools are involved in the transfer of the Synthetic assets.