DeFi protocol Symmetry launched the first asset management framework on the Symmetry chain on Solana. The event was announced on Twitter on Tuesday.
The Symmetry Engine is a collection of SDKs that allow developers to build on-chain asset management applications, without affecting prices or causing liquidity slippage.
The protocol has been launching products on Solana since 2021, and has surpassed $500 million in size on its DEX, created with Prism Aggregator.
In traditional finance, the creation and management of indices and actively managed funds has always been limited. The reasons cited are its capital intensive nature and the complexity of transferring large sums of money to maintain risk-reward ratios. The public is limited by the rules and methodologies of the central parties that manage the funds. Symmetry is at the forefront of the revolution due to its trustless and permissionless nature.
Anyone can use symmetry to create a fund in less than 5 minutes. When an actively managed index or fund is established, the protocol generates a “matic”, a token created specifically for that fund. Matic stands for its underlying assets and its price is determined by weighting the prices of the assets that make it up. Therefore, the owners of the fund token effectively own the value of the assets that make it up, allowing them to easily diversify their portfolio with a single token. Symmetry Engine, on the other hand, automatically takes care of rebalancing, re-weighing and filtering (where it is automated) of the chain fund.
For deposit holders, funds can act as concentrated liquidity pools, market makers for DEXs, and compensatory liquidity providers for fund voucher holders. This opens up a wide range of possibilities for traders, as liquidity can be offered at a price determined by an on-chain oracle, with 0 slippage and 0 price impact.
With the initial release, Symmetry Engine provides access to the following features:
1. Funds SDK – Create, manage, automate and track actively managed indices and funds.
2. Liquidity SDK – Access to fund liquidity
Symmetry Engine documentation is available at docs.symmetry.fi
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