What are synthetics and why should you care?
Interesting and useful information
Synthetics have been trending in the blockchain ecosystem a lot.
So what these are?
Synthetic tokens are intelligibly representing the value of another asset in the form of a tokenized derivative from within the blockchain ecosystem or yet simply, these tokens hold asset based value.
They derive their value from the assets they are based on which means their value is directly proportional to the main assets.
Crypto based synthetic tokens possess all the benefits of decentralization such that anyone can own them anywhere.
These synthetic tokens have vast implications for the conventional financial markets like trading traditional assets digitally instead of the actually backed cryptos.
Rootkit Finance is here to provide some really unique options for trading valued crypto backed ERC-31337 wrapped tokens as trading options instead of having to trade the coins themselves.
Team Rootkit has its very own UpMarketCap platform https://upmarketcap.com/. This is where all the good things are.
You can simply go to UpMarketCap and get your synthetic ERC-Elite wrapped tokens against BNB as UpBNB and Tether as UpTether.
What makes these UpTokens unique is their price floor, their ability of buyback and their price having the capability of being pumped up wherever needed. So, irrespective of the fall in the market price of that coin, the respective UpToken will never fall below the set floor price.
Hence, they are a safer trade alternative.