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The Promise and Potential of Synthetic Assets

Today, most Decentralized Finance (DeFi) applications look like copies of traditional financial products. You can swap one token for another, borrow or lend a token in a money market, and even trade on an exchange with margin and leverage.

But DeFi can go much further. Blockchains are open, global platforms that carry programmable value at their core. It’s only a matter of time before DeFi produces something truly unique — with no corollary in the traditional world.

Enter the first possible example: synthetic assets

What are Synthetic Assets?

Synthetic assets are a new type of derivative. Recall that derivatives are assets whose value is derived from a different asset or benchmark. Things like futures and options, where buyers and sellers trade contracts that track the future price of an asset.

DeFi simply adds a twist: synthetic assets are tokens that are digital representations of derivatives. Where derivatives are financial contracts that provide custom exposure to an underlying asset or financial position, synthetic assets are simply tokenized representations of similar positions…

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Polkadot is the Most Popular Network for Staking, Nearly $3 billion Worth of DOT Tokens are at Stake

Layer-1 blockchain Polkadot is the most popular network when it comes to staking. According to The Block Research, nearly $3 billion worth of DOT, Polkadot’s native token, are at stake.

The figure means DOT token holders have deposited $3 billion worth of funds with Polkadot validators for earning passive income. Cardano follows Polkadot as the second most popular network, with $1.79 billion worth of ADA staked.

Tezos (XTZ) and EOS are ranked third and fourth by staking value, each having roughly $1.4 billion within their networks. Overall, around $12 billion in total is staked across the top ten networks — eight of which are Layer-1 blockchain networks — except Band Protocol and Synthetix…

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