The native token of the cross -chain decentralized exchange blockchain (DEX), THORChain (RUNE) posted a jump of more than 39% before hitting a daily high, $ 5.62 yesterday in just 24 hours.
Even so, at the time of writing, this asset has slipped over 13%, trading at $ 4.8 but still surviving with a nearly 19%price increase.
What led to the RUNE surge?
Synthetic assets - the emergence of THORSynths announced four days ago has been activated on THORChain today.
THORSynths is a collateral guarantee for assets in THORChain.
For example: Bitcoin (BTC), Ethereum (ETH), or XRP still have the same value even though they are categorized as THORSynths.
Kind of similar to wrapped tokens but THORSynths relies on THORChain Liquidity Pools which contain:
50% of the original assets
50% RUNE
THORChain Liquidity Pools ensures that the price of synthetic assets remains at a 1: 1 ratio to the price of the original asset.
THORSwap Finance once explained that the advantage of a synthetic asset is its diverse utility for ordinary investors and investors who take advantage of the difference in the price of cryptocurrency coins in different platforms (arbitrageurs).
THORSynths offers fast transactions and lower costs than in layer-1 (layer-1) networks.
Each synths transaction is capable of increasing the number of locked values (TVL) in this series.
Each Synth generated represents the ownership of the liquidity pool for the native asset.
Expected in the future, the presence of THORChads will also allow users to get yields (yields) with Synths with the existence of vaults and THORFi utility offerings.
