Since the launch of decentralized finance in 2018 the space has been evolving fast, making crypto assets more accessible and easy to obtain. When synthetic assets were introduced in traditional markets, it became apparent this was the future, and blockchain developers found a way to incorporate cryptocurrency. However, these new synthetic marketplaces are inherently underdeveloped and littered with problems, such as UI constraints that unfortunately block an asset’s potential. This is where Metronome Synth plans to change the game, providing a comprehensive DeFi experience for all users.
Synthetic assets often referred to as synths, are tokenized assets that’s value is directly tied to another popular asset. Synths are able to track the price of said assets by utilizing decentralized oracles, which are smart contract-based price discovery protocols.
You can generate and swap synths on synthetic marketplaces, such as Metronome Synth.
Metronome is unique in the fact it is the first multi-collateral, multi-synthetic platform, unlike most other alternatives out there that offer just one of the said options. When entering MET Synth, users can deposit collateral to stake and in return generate a synthetic asset of their choosing from the approved list. The zero-slippage nature of the Metronome marketplace makes it an extremely desirable option for DeFi users to swap their synths.
Owning synthetic assets can be hugely beneficial in helping users get into the DeFi world and start swapping with a relatively low barrier to entry. This is a great place to begin for many reasons, such as:
Crypto synthetic assets are extremely accessible and allow holders to swap their assets without having to jump through strenuous loopholes. They open up DeFi users to a whole new world and unlock the potential for much more opportunities. However, the current synthetic ecosystem is plagued by undeveloped user interfaces that cause challenges for users. By utilizing the Metronome Synth platform, users are able to take advantage of innovative features, such as zero slippage between assets, a simplistic UI, and multi-collateral/multi-synthetic generation.