SynthCrypto DOT – Symbol : hDOT
This token is a SynthCrypto DOT, it derives its pricing from a composite global pricing of Polkadot in USD in real time with all transactions occurring on-chain on Pecu Novus. They sit in a liquidity pool and are used for speculative purposes, hedging and risk management.
What is a SynthCrypto
A SynthCrypto, also known as a Synthetic Cryptocurrency, is a digital asset that tracks the price of another asset, such as a digital assets and real-world assets. Synths are created and traded on decentralized exchanges (DEXes) such as HootDex.
SynthCryptos can be used for a variety of purposes, such as trading, hedging, and lending. For example, a trader could use a SynthCrypto to trade on the price of a cryptocurrency without having to actually own the cryptocurrency. Or, an investor could use a SynthCrypto to hedge against the price of a real world asset. Learn more here.
Here are some of the benefits of using SynthCryptos
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Access to a wider range of assets: SynthCryptos allow users to trade and invest in a wider range of assets than would be possible with traditional cryptocurrencies. For example, users can trade on the price of real-world assets without having to actually own those assets.
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Transparency: SynthCryptos are typically backed by collateral that is deposited into a smart contract. This makes SynthCryptos more transparent than some other types of digital assets.
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Flexibility: SynthCryptos can be used for a variety of purposes, such as trading, hedging, and lending. This makes SynthCryptos a versatile asset class.
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