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Synthetics Tokens

What are Synthetic Tokens?

In the broadest sense, synthetic assets are a type of financial derivatives giving its owner exposure to an underlying asset without having to actually hold it. A synthetic asset is simply a tokenized derivative that mimics or mirrors the value of another asset.
Imagine that you want to trade Gamestop stocks without holding the $GME asset itself. Or, do you want to gain exposure to S&P500 index movements without having to hold the underlying basket of stocks? No problem. What about gold and silver? Yes. How about…something more exotic like becoming a Bitcoin miner without owning any hardware but simply by holding the right synthetic asset.
Assets that have their value derived from other assets or benchmarks are known as derivatives. In Crypto, synths are tokenized derivatives.
Well, all this already exists, and it's the evolution for many asset classes that wish to gain exposure to the decentralized and tokenized world of cryptocurrencies

$ASTX (pegged-ASTR)

Alnair goal is to maintain ASTX anchoring (price stability) to the underlying instrument by maintaining sufficient collateral in Alnair smart contracts. This collateral can be used for redemption, which in turn helps maintain price stability.
The purpose of the ASTX token is to give Astar Network users and long-time traders in the ASTR ecosystem additional utility for their spot asset and a new way to earn additional rewards.