# Synthetic Assets (Selenized)

Selenized assets are blockchain tokens that behave like "mirrored" versions of real-world assets by reflecting the exchange prices on-chain. Selenized assets give to traders the price exposure to real assets while enabling fractional ownership, open access and censorship resistance as any other cryptocurrency.

{% hint style="info" %}
Unlike traditional tokens which serve to represent a real, underlying asset, Selenized Assets are purely synthetic and only capture the price movement of the corresponding asset.
{% endhint %}

### Properties

A Selenized asset can be described by the following properties:

### Minimum Collateral Ratio and Multiplier

A CDP that mints the Selenized asset have a collateral ratio below **minimum collateral ratio** times the **multiplier** parameter, lest it be subject to liquidation through auction. A multiplier is a parameter assigned to each asset type that could be used as collateral to open a CDP and is multiplied to the minimum collateral ratio of the minted Selenized asset to determine the final minimum collateral ratio for the given position.

### Auction Discount Rate

For a CDP subject to liquidation, describes the discount for which its collateral can be purchased by paying the minted amount for the position. Auction discount applied during the liquidation process is the lower value between *`minimum_collateral_ratio` - 1, or `auction_discount` parameter.*

### Price

The current registered price as reported by the Oracle. This is mainly used for determining collateral ratio for CDP and does not affect the Selenized asset's trading price on [Terraport](https://terraport.finance/) directly.

Prices are only considered valid for 58 seconds. If no new prices are published after the data has expired, Selenium will disable CDP operations like mint, burn, deposit and withdraw until the price feed resumes.

For instance, the price feed is halted when real-world markets for the asset are closed. This does not affect the ability to trade on the asset's [Terraport](https://terraport.finance/trade) pool.


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