What are Synth Tokens?

A Synth token is a token built on top of Ethereum and other blockchains and represents a synthetic asset. Synths are digital assets pegged to a real-world asset's value, such as a currency, commodity, or stock. The value of a Synth token is determined by an algorithm that considers the underlying asset's price and other factors, such as supply and demand. The algorithm is designed to keep the value of the Synth token as close as possible to the value…