Net Mint Amount

• All of the chains are having a net mint. Means there are synthetic assets left in the respective chains.

• BNB chain has the most synthetic assets minted and not being burnt.

• The native chains with higher gas fee tend to have more synthetic assets minted, eg. BTC and ETH.

• The rest chains are having less than 500k synthetic assets minted.

Synthetic Assets mint & burn on respective chains

I have done the on-chain analysis on Synthetic Assets minted and burnt on respective chains.

• BNB chain has the most synthetic assets mint and burn, while DOGE chain has recorded the least amount of synthetic assets mint and burn.

• Terra chain is performing well as it only been integrated into Thorchain in the end of month March 2022. However, it has almost catching up the amount achieved on BTC and ETH chains.

• The mint and burn amount is evaluated using USD instead of token amounts. This is due to each assets token are having different values.

Synthetic Assets mint & burn on respective pool assets

The on-chain analysis chart below showing the mint and burn amount for synthetic assets for respective assets liquidity pool.

• Overall, all the assets liquidity pools are having net synthetic assets minted.

• There are total 27 out of 27 liquidity pools having synthetic assets minted.

• BUSD liquidity pool has the most synthetic assets minted and burnt. With 180 Million mint and burn each process.

• Next, BTC native pool come the second with around 130 Million USD worth synthetic assets minted and burnt.

• ETH and UST pool is having close amount of synthetic assets minted and burnt with around around 79 Million USD each way.

• Besides, USDC pool is having over 50 Million USD worth synthetic assets minted and burnt.

Net Mint Amount on respective liquidity pools

• All of the liquidity pools are having a net mint. Means there are synthetic assets left in the respective chains as virtual pool depth.

• BNB.BUSD has the most synthetic assets minted and not being burnt. With an amount close to 4 Million USD.

• Other liquidity pools are all having a synthetic assets net mint value less than 1 Million USD.

• BTC native having the closest net mint value to 1 Million USD.

Summary

• Higher gas fee native chains tend to have more synthetic assets minted and burnt

• Almost more than 90% of the synthetic assets minted will be then burnt.

• Most of the liquidity pools and chains is still having the synthetic assets stored in virtual pool depth since they still have net minted amount value.