As digital assets are growing with each passing day, there are many tokenized derivatives created to offer users opportunities to invest and get returns from a real asset without having the asset. Over the years, it has been a business of institutions and wealthy individuals but the coming of decentralized finance has offered users opportunities to access synthetic assets with ease
PHANTOM, a cross-chain DeFi protocol for synthetic assets creation and mining, as well as NFT issuance, has bridged the gap between small investors and their desire for synthetic assets. With this, investors will be opportune to create, mine, and buy Synthetic assets from the comfort of their homes and have their evidence of purchase recorded in the blockchain. This means that crypto-asset holders can trade crypto and other financial assets on a single platform.
FEATURES OF PHANTOM PROTOCOL
Cross Chain: Phantom offers cross-chain access to users thereby giving them opportunities to access faster transactions, lower gas fees, and more options when it comes to chain to use.
Multi Collateral Offer: Unlike what is observed on other similar protocols where project token is only used as collateral, Phantom allows users to use stable coins, Crypto assets, and NFTs as collateral for securing loans. The burden that users face whenever they want to supply collateral with the project token is thus reduced.
Liquidity Mining: Phantom users are opportune to provide liquidity of Synthetic assets and other assets in the platform and earn rewards in form of PHM, the native token of the Phantom protocol.
Stakers of PHM are opportune to vote on active polls, and as a deposit for new governance polls.
DISCLAIMER: I am not a financial advisor, ensure to do your research about the project.
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