I havent looked into it but I think synthetic assets are an amazing idea. It will really lead to the day when we see decentralization take over. The question is how decentralized is it.
These are certainly securities by the legal definition. However, if out of the reach of the regulators, then it is good to go. I just dont know enough about Thorchain to comment on that. I hope it is decentralized to the point where it can be out of the scope of regulation.
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Yes the beauty of the Thorchain is that both native assets and synthetics of the same coins are all available on the same platform.
Regarding regulation and staying out of reach, the Thorchain team has taken great effort to stay anonymous from what I can tell, which is important, as once the devs are doxxed it creates a critical point of failure since the regulators can go after them. They do want to turn over control of the project to the community and burn the admin keys eventually, but I do not know the timeline for that.
I am using ThorChain as of this week and it is fantastic! But I do have 2 concerns: The bond needed to run a node is way too high, it is millions of dollars at current prices, which limits decentralization greatly. And the other worry is that in late 2023 they plan to have some kind of debit card deal, seems like a bad idea to me, and could easily reveal their identities if they are not careful. Haven Protocol plans to do this eventually too, and I feel the same way about them as a privacy coin ecosystem. Most of the appeal of these projects is the anonymity and freedom, seems like that only puts those things at risk.
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