fbpx

Symmetry Protocol releases Solana’s First Asset Management Infra

DeFi protocol Symmetry has released the first on-chain asset management infrastructure on Solana called Symmetry Engine, announced on Twitter on Tuesday.

Symmetry Engine is a collection of SDKs that lets developers build asset management applications on-chain, as well as gain access to 0 price impact and 0 slippage liquidity.

The protocol has been launching products on Solana since 2021 and has surpassed over $500 million in volume on their DEX built with Prism Aggregator.

In traditional finance, creation & management of indices and actively managed 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. Public has been limited by the rules and methodologies of the central parties managing the funds. Symmetry is in the forefront of revolutionizing this by it’s trustless and permissionless nature.

Symmetry can be used by anyone to create a fund in less than 5 minutes. When establishing an index or an actively managed fund, protocol automatically creates a token specifically for that fund, which represents its underlying assets, price of which is determined by the weighted price movements of its asset composition. Therefore, owners of the fund token effectively hold the value of assets contained in its composition, allowing them to easily diversify their portfolio with just one token. Symmetry Engine automatically takes care of rebalancing, re-weighing and refiltering (in case it is automated) the fund on-chain.

Funds can also act as concentrated liquidity pools, market making to DEXes and earning liquidity provider fees for the fund token holders. This unlocks a wide range of possibilities for traders, as the 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 functionalities:

1. Funds SDK – Creation, management, automation and tracking of indices & actively managed funds.

2. Liquidity SDK – Access to the liquidity of the funds

Documentation for Symmetry Engine can be found at docs.symmetry.fi

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Rate This Article
In order to improve, we give you the opportunity to rate DailyCoin content
Author

Read the most recent crypto press releases on DailyCoin to know all the latest project news from fintech and blockchain businesses. Disclaimer: This article is a press release and was not written by DailyCoin. We always aim to have the highest editorial and fact-checking standards, so if you encounter any content related issues, please contact us at [email protected]