Thorchain Synths are wrappers around native tokens to enable usage of native assets in DeFi across the COSMOS ecosystem. Unlike other wrappers, Both the native asset and the RUNE token is used to collateralize the synth. In this dashboard, we will look at mint and burn of Synths on Thorchain.

First let us check at the overall net Mint stats

From the above chart, plotting the USD volume of net Assets minted and burned,

• It hasn't been always plain sailing for Synths
• It hasn't reached a phase of adoption yet, as its mostly being used as speculative asset, although quite alot of use cases are available
• Most days have seen net Mint of Synths, however, those days with net Burn have higher volume and hence bring the average back to 0

Plotting by differentiating between different chains:

• For almost all the chain, we can see that trend of mean reversion occurs
• >Mean reversion is basically where net Mints are cancelled by net Burns in the long run, hence there is no adoption and in the long run, effective net Supply is zero
• Ethereum is the chain with the highest Mint and Burn activity

Plotting by different assets, the mean reversion is clear. The best example of mean Reversion is the ETH.SNX asset. Where for a full month, there was pretty much only Mints. However, there was a recent burn, that burnt almost half of the supply, and in the longer term, this will continue.