xDOT is our new synthetic asset
December 22, 2021
As we promised, now it's up to you to choose what new synthetic tokens we will add.
This week you chose xDOT,
but xBNB was also very close to winning 🏆
What are synthetic assets?
Synthetic assets closely track the price of specific assets assigned to them e.g. xBTC will have the same price as BTC on centralized exchanges. Synthetic assets have a form of the SPL-Token and can be freely transferred between wallets or used in other DeFi applications. Prices of all synthetic assets are provided by decentralized oracles built on top of the Solana blockchain ⚡
What is Polkadot and DOT?
Polkadot is a platform that allows diverse blockchains to transfer messages, including value, in a trust-free fashion; sharing their unique features while pooling their security. In brief, Polkadot is a scalable, heterogeneous, multi-chain technology ⛓️
is the native token of the Polkadot Network. DOT can be used for transaction fees, staking, governance, acquisition of a parachain slot and for enabling several key functionalities on Polkadot 🪙
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