Would you like to discuss what makes a syncthetic good or bad?
2. Funding rate stability. aka it doesn't cost much (or actually make you money) to hold the position.
3. Claw-backs, aka you don't wake up one day and find that half your collateral is gone because the market made a big move. This is a big problem especially for Okex.
Basically, a synthetic USD is good if it behaves and yield like a real USD.
BitMEX isn't going through all this trouble and criminal indictment avoiding KYC because people using it are super on the up-and-up and have no problem with validating their identities.