On March 10th, THORChain, a decentralized cross-chain liquidity network, announced the launch of Synthetics in its multi-chain Chaosnet, which can now be minted, exchanged and redeemed through applications such as THORSwap.
THORChain said that, unlike Wrapped Assets, THORChain Synth is backed by the THORChain liquidity pool, which contains 50% of the original assets and 50% of RUNE of the same value. The THORChain liquidity pool ensures that the price of synthetic assets always maintains a 1:1 ratio with the price of native tokens.
THORChain aims to decentralize cryptocurrency liquidity through a network of public THORNodes and ecosystem products. Any individual, product or institution can access its native and cross-chain liquidity.