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> Synthetics backed by a 1:1 mint/burn are always going to crash and burn the same way. What are the top few similar synthetics out there right now if you don'

• wtracy 4y ago
  There's one cutely named Synthetix. If you look into the rabbit hole of "algorithmic stable coins", many of them use the same mechanism. What made Terra interesting to me is that Luna is usable for paying gas costs. All equivalent systems that I've seen have a backing currency that has no uses other than minting synthetic assets or pure speculating.