Synthetics Tokens have a global market capitalization of $974,873,163 and a total trading volume of $$287,911,910, according to data from CoinMarketCap. Today, we will take an in-depth look at some of the top synthetic tokens to add to your portfolio in September 2022, looking at their use cases.
Note: Tokens are sorted by their price unit from lowest to highest
Unit Price: $0.0003767
Market Cap: $13,184.77
Distinct Features: KALATA is a platform for decentralized synthetic asset derivative trading and mortgage lending.
Kalata Protocol, powered by the peer-to-pool engine, supports virtually any asset traded on the DeFi platform. This includes stocks, commodities, and derivatives. The system uses decentralized pricing and collateral to read stock, commodity, and asset prices.
KALATA is the foundation of Synthetic Asset issuance and transaction agreements, which enables everyone to experience real-world financial assets, helping mitigate risk. On the Binance Smart Chain, Kalata’s emerging platform has been constructed with more remarkable performance, reduced transaction fees, and customization.
Kalata uses a high-performance oracle to ensure consistency between synthetic asset values and actual asset prices. Due to our over-collateralized liquidity pool, every deal will be executed with zero slippage using real-time price feeds.
Exchange: With a 24-hour trading volume of $399.88, KALA is trading on PancakeSwap (V2), Dinosaur Eggs, and Kalata Protocol.
Unit Price: $0.01054
Market Cap: $31,585,110
Distinct Features: Utilizing Graphene, an open-source blockchain implementation, BitShares can handle up to 100,000 transactions per second (TPS), which is quicker than MasterCard and VISA combined.
BitShares, a decentralized platform, is frequently used for trading cryptocurrencies without intermediaries securely. The platform was created to offer a more effective payment network globally.
BitShares is one of the few blockchain platforms that’s done away with addresses entirely. Instead, it distinguishes people through brief notes, giving it one of the most approachable crypto sites.
According to data from the website, the project’s mission is to provide Decentralized Software solutions to any KIND of centralized problems in every INDUSTRY.
Exchange: BTS has a 24-hour trading volume of $841,345, trading live on Binance, MEXC, XT.COM, CoinTiger, and Huobi Global.
Jarvis Network (JRT)
Unit Price: $0.01748
Market Cap: $506,794
Distinct Features: JRT proposes to create a suite of financial and identity-management protocols on Ethereum. Making decentralized banking as accessible as the Internet and interoperable with conventional finance
The whitepaper says the concept for Jarvis Network was to combine traditional banking, cryptocurrencies, and Blockchain technologies into one trading platform, linking to centralized exchanges and CFD brokers for all markets trades.
Jarvis Network is developing a set of protocols and software to make decentralized finance accessible to anyone. Their first protocol, Synthereum, serves as the foundation for an ecosystem that would give anybody access to liquidity, yield, and financial services.
According to the site, Synthereum is defined as the first protocol of the Jarvis Network. It is a collection of smart contracts to issue and exchange synthetic fiat currencies (jFIATs).
Exchange: JRT is trading on CoinEx, AscendEX (BitMax), SushiSwap, and Bancor Network with a 24-hour trading volume of $7,986.36.
Unit Price: $0.1445
Market Cap: $814,492
Distinct Features: The Synthetify platform uses the Solana blockchain technology to provide the fastest settlement times possible for trading.
The Synthetify protocol allows for the production, trading, and burning of synthetic assets based on prices given by a decentralized network of oracles. Trading on the Synthetify exchange is done via the public debt pool, which offers almost limitless liquidity and 0% slippage even during large trades.
Issues to note with previous synthetic asset platforms, such as excessive fees, slow confirmation times, and losses from arbitrage during rapid market movements, are resolved by Synthetify.
For serving as counterparts in trades, members of the debt pool are compensated on a pro-rata basis. To maintain the stability of the platform, debt pool participants must always have a sufficient amount of collateral in Synthetify tokens (SNY).
Exchange: With a 24-hour trading volume of $94,811.89, trading on FTX, Gate.io, AscendEX (BitMax), Jupiter, and Serum DEX.
Mirror Protocol (MIR)
Unit Price: $0.2887
Market Cap: $23,013,403
Distinct Features: This project is focused on being entirely decentralized and community-driven.
The governance token of Terraform Labs’ (TFL) Mirror Protocol, a synthetic assets protocol developed on the Terra network, is called MIR.
From the beginning, Mirror Protocol has been decentralized, with MIR token holders controlling the on-chain treasury and code updates.
Blockchain tokens known as “mirrored assets” mimic the behavior of real assets by reflecting market prices on-chain. As with any other cryptocurrency, they support fractional ownership, open access, and resistance to censorship while providing traders with price exposure to real assets.
mAssets are entirely artificial and merely record changes in an asset’s price, as opposed to standard tokens, which represent an actual, underlying item.
Exchange: MIR has a 24-hour trading volume of $188,980,615, trading on Binance, OKX, BingX, MEXC, and XT.COM.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.