The first on-chain Symmetry Engine asset management infrastructure has been introduced by DeFi protocol Symmetry on Solana. On Tuesday, the event was advertised on Twitter.
With the help of the SDKs in the Symmetry Engine, programmers can create on-chain asset management applications without affecting pricing or resulting in liquidity slippage.
Since 2021, the protocol has been launching products on Solana, and their Prism Aggregator-created DEX has seen volume of over $500 million.
The development and administration of indexes and actively managed funds have never been widely used in conventional finance. Their capital-intensive nature and the difficulty of moving huge sums of money to maintain risk-reward ratios are listed as the causes. The guidelines and procedures used by the central parties who administer the funds have placed restrictions on the general population. By virtue of its lack of trust and need for permission, symmetry is at the vanguard of the revolution.
Anyone may use Symmetry to set up a fund in about 5 minutes. The protocol creates “matic,” a token especially designed for that fund, while creating an index or actively managed fund. The price of Matic is based on the weighted average of the values of the underlying assets that make up the security. Because they effectively control the value of the assets included in the fund token’s composition, its owners can easily diversify their portfolio with a single token. On the other side, Symmetry Engine handles the on-chain fund’s rebalancing, reweighing, and refiltering (if it is automated) automatically.
Funds can also act as concentrated liquidity pools for token holders, market makers for DEXs, and remuneration for liquidity providers for fund token holders. Since liquidity can be provided with zero slippage and no price impact at a price set by an on-chain oracle, this opens up a wide range of opportunities for traders.
The initial Symmetry Engine release gives users access to the following features:
- 1. Create, manage, automate, and track actively managed funds and indexes using the Funds SDK.
- 2. Access to fund liquidity with Liquidity SDK
Visit docs.symmetry.fi to get the Symmetry Engine documentation.
