Paris, France, July 20, 2022, Chainwire
DeFi protocol Symmetry released the first on-chain resource management infrastructure on Solana called the Symmetry Engine, announced Tuesday on Twitter.
Symmetry Engine is a collection of SDKs that allow developers to build on-chain asset management applications, as well as access 0 pricing impact and 0 liquidity slippage.
The protocol has launched products on Solana since 2021 and has surpassed $ 500 million in volume on their DEX built with Prismatic aggregator.
In traditional finance, the creation and management of actively managed indices and funds has always been limited due to its capital-intensive nature, as well as the complexity of moving large amounts of money to maintain risk and reward ratios. The public was limited by the rules and methodologies of the central parties managing the funds. Symmetry is at the forefront of revolutionizing this by its nature without trust and without authorization.
Symmetry can be used by anyone to create a bottom in less than 5 minutes. When establishing an index or actively managed fund, the protocol automatically creates a specific token for that fund, representing its underlying assets, the price of which is determined by the weighted price movements of its asset composition. Therefore, the fund’s token owners effectively hold the value of the assets contained in its composition, allowing them to easily diversify their portfolio with just one token. Symmetry Engine automatically takes care of rebalancing, weighing and re-filtering (if automated) the on-chain fund.
The funds can also act as a concentrated liquidity pool, market making for DEXs, and earn liquidity provider fees for the fund’s token holders. This unlocks a wide range of possibilities for traders, as liquidity can be offered with zero slippage, zero price impact, and at a price determined by an on-chain oracle.
With the initial release, Symmetry Engine contains the following features:
1. Funds SDK – Creation, management, automation and monitoring of indices and actively managed funds.
2. Liquidity SDK – Access to funds liquidity
Documentation for the Symmetry Engine is available at docs.symmetry.fi
