The next-generation decentralized multi-chain trading platform http://uxuy.com has officially unveiled its Crypto Synthetic Asset Program — UXUY Token. This marks a pivotal step for UXUY in its ongoing efforts to promote https://blog.uxuy.com/the-uxuy-crypto-equity-manifesto-97e0d0f7b612 and expand its presence within the multi-chain ecosystem. The UXUY Token program will place a strong emphasis on low-Gas edge blockchains, stablecoins, and innovative assets.

The UXUY Token program not only leverages Ethereum's ecosystem for synthetic assets but also supports Ethereum Layer 2 scaling solutions (Optimistic Rollups, Zk-Rollups). It is actively exploring opportunities within other ecosystems like Base, and Linea... and also extending its reach to non-EVM ecosystems such as the Bitcoin Lightning Network and RGB.

UXUY Synthetic assets, also known as UXUY Token, are essentially tokenized derivatives.

Synthetic assets are the most significant innovation in the DeFi space and are becoming increasingly popular in the crypto world. In traditional finance, the value of derivatives is derived from underlying assets like stocks or bonds. These derivatives allow traders to speculate on their price movements without actually owning the assets. However, UXUY Token or tokenized derivatives take the concept of derivatives a step further by allowing them to be recorded on the blockchain and creating cryptocurrency tokens.

The UXUY Synthetic Asset Program leverages public distributed ledger technology to directly verify and record transactions on the digital blockchain. Traders need to pledge specific cryptocurrencies as collateral, and once the collateralization process is complete, the corresponding synthetic assets are created.

The operation of UXUY's encrypted synthetic assets is achieved through over-collateralization. Traders need to pledge cryptocurrencies worth more than the synthetic assets they want to create and also pay additional stability fees. This design provides a buffer in case the value of cryptocurrency collateral falls.

UXUY Token Synthetic assets are created through smart contracts that generate debt on any asset, with exchange rates determined by price oracles. In this way, protocols can provide exposure to a variety of assets through a liquid market oracle.

The inclusivity of synthetic assets opens up a broader array of opportunities and increased liquidity for investors, ushering in fresh prospects for the industry. For example, synthetic assets can be used to tokenize Bitcoin mining power, allowing anyone to participate in Bitcoin mining and earn interest without needing to own and operate mining equipment. Additionally, people can earn rewards or returns by holding or staking synthetic assets. The use of smart contracts and tokenized investments on the blockchain is improving financial accessibility and democratizing the finance industry. More and more top synthetic asset protocols are emerging and finding success, such as https://synthetix.io****, https://uma.xyz****, https://makerdao.com****, and https://www.abra.com/****...

Synthetic assets are gaining acceptance, https://twitter.com/vitalikbuterin/status/987743110250758149 :

Stablecoin synthetic assets, as components of UXUY's Crypto Synthetic Asset Program, are linked to the USD. To maintain the stability of their prices, UXUY employs smart contracts to manage stability fees and regulates the savings rate of collateral assets to achieve this goal.

Currently, the DeFi space is limited in terms of the number of financial assets due to its relatively short existence. The introduction of synthetic assets will significantly change this landscape. With the UXUY Synthetic Asset Program, traders can use traditional financial instruments to better formulate investment strategies and realize investment returns.

Simultaneously, synthetic assets will address issues such as blockchain liquidity fragmentation and restricted cross-chain transactions. Furthermore, UXUY actively promotes the Synthetic Asset Program, which can help more non-crypto enthusiasts and DeFi participants understand blockchain, expanding the user base of cryptocurrencies. UXUY is prepared to welcome one billion people into the crypto ecosystem.

In addition, synthetic assets offer the following advantages:

The launch of the UXUY Token Crypto Synthetic Asset Program will provide global investors with more opportunities, offering greater versatility in asset allocation through decentralized smart contracts. Simultaneously, the UXUY Token Crypto Synthetic Asset Program will attract more traditional investors into DeFi and the crypto ecosystem.

UXUY Token Crypto Synthetic Assets will continue to drive the development of the UXUY APP, enriching its feature set and providing traders with enhanced functionality and user experience.