I tried to find out how this is supposed to even work as a stable coin but i couldnt find quality information. MakerDAO / Dai tokenomics of how it maintains the peg is very well documented and explores risks etc in great length.
now Synthetix is on the scene, they promise a stablecoin and not only that but to be able to utilise it to use dollars, stocks and bonds and i also believe even trade them. this is part of their roadmap. however if it was ever used to trade stocks it might be labeled as a security.
Ripple and the interledger protocol can do the stocks / bonds integration as its a value transfer protocol, it doesnt currently but but the ILP can be used for that at some time one day, but they have been hit being labelled a security with law suites etc.
so i see Synthetix trying to do two things provide a stable coin but also act as a bridge asset between different assets.
from my research thus far, im not convinced as there is little in depth technical discussion online on how it achieves things.
I guess this is a biased question as my own post comes in with a confirmation bias.
so that being said.
what are your thoughts on Synthetix? pros / cons?