Average Age of Synth Holders

Synths, is synthetics of crypto assets. Users can create synthetic versions of any coins using THORChain. Users can do this by adding $RUNE or a crypto asset to a THORChain liquidity pool. Synthetic assets from THORChain are distinct from other synthetic assets in that they are not solely backed by the underlying asset and do not require a high collateralization ratio. In this dashboard, we will discuss and investigate on how long usually the synths holder hold their synths.

Illustrations below shows how synths can be minted. Basically, minting synths is almost the same as providing LP on THORChain plus some advantages such as cheaper to trade etc.

Graph below shows the volume of synths minted daily by different synths asset. We can see that daily mint has reached over 30M USD and recently has been averaging > 10M USD minted daily.

Graph below shows the minter count by synths assets. We can see that among the favorite synths minted are native BTC, native BUSD, native UST etc.

By joining the same minting and burning address, we manage to gauge how long each synths minter held their synths assets and the graph below shows the outcome. The longer the days, the lesser number of minter. We can see the minter number decreases exponentially with increasing number of days.

Since synths is a relatively new features on THORChain, the majority of synths holder hold their synths for short period of time. However, this could be because how new synths feature are. The transaction count has been increasing as we can see from previous graph. So, we are just getting started.

flipside

flipside

Average Age of Synth Holders