Thorchain Synths are a new protocol that was recently added to stage net. This means they're being actively tested by the Thorchain Community and Ecosystem.
What's fascinating about synths - and what we talk about in this video - is that it adds the ability to single-stake assets on Thorchain.
Imagine a world where you can add only BTC to a vault - NATIVE BTC - and earn yield on that BTC from trading fees + RUNE rewards.
There is no impermanent loss in this scenario. You're only exposed to the price of BTC (in USD terms of your position).
This doesn't exist today. The closest we have are single-stake vaults for wrapped versions of BTC. These vaults don't add liquidity to trading pools either, they simply are paid out via inflationary mechanisms.
Thorchain is about to change the world of DeFi - yet again. This is one of the most exciting new features they're getting ready to unleash this year!
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Thorchain have been going great in times of the development and improvements on the growth of this hive community which I believe that the new protocol that was recently added is other improvements by the thorchain community and the ecosystem as well. Good job done!
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Wow! 2022 is full of goodies as Thorchain is about to make a great change in the world of DeFi, can't wait for it to be unleash and the most interesting part of it is that no loss can be incurred in this new protocol.
I can't wait to get this new features if its going to bring in a positive impact. This year 2022 is going to be a great year with new updates .
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You know the biggest problem in DEFI pools is impermanent loss, imagine the revolutionary DEFI single pools with enough liquidity and decent APR to make it more popular.
About synthetics, was some some kind of DEFI that provided synthetic tokens on the Ethereum blockchain before if I remember correctly ?
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Definitely, with the level of development that is coming from thorchain right now,I keep on seeing good things coming from that edge and won't be surprised if it has influence on every token too
This is wonderful project, the cryptocurrency space Continue to witness more innovations
I am impressed seeing thorchain move to the right path and this is a work well done by the leo team that are making everything possible to see it progress
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The level of progress thorchain is Making this time looks so good and honestly that is a welcome development in the community too
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This is why is so love thorchain. They are very innovative and forward thinking. I believe this new feature is going make their Dex stand out this year has it. Can't wait to see this protocol actually in play
Cool that looks like an awesome addition. I am not very much updated about the thorchain. But since it is a lot talked about here and the underlying concept and its uniqueness makes it feel promising, I have grabbed up some during this dip. 🙃😇
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Fully decentralized protocol for single staking assets, awesome, if it all works out right, I can’t imagine the immense amount of value it will soak in, certainly a lot of stable assets would be going in there, what I haven’t exactly figured out is how the protocol will sustain ‘relatively’ high apr.
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