Thanks to your recommendations, I started listening to the Unchained podcast. 

I have some questions for stablecoin experts.

What, exactly, qualifies something as a "synthetic dollar?" 

Are there other kinds of synthetic dollars than $ENA?

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I would maybe put stable coins in two different buckets. There are the USDCs and USDTs of the world that are backed 1:1 by physical dollar or dollar denominated assets and pass no yield back to the users 

Then there’s $USDS from Sky FKA maker dao that are backed by more exotic forms of collateral including crypto assets like ETH and do pass a yield back to token holders

Beyond the yield component there’s a trade off spectrum between stability, decentralization and scalability for all these different flavors of stables/synthetic dollars