On Tuesday, DeFi protocol Symmetry announced the launch of Symmetry Engine, the first on-chain asset management infrastructure on Solana.
With the help of the SDKs in the Symmetry Engine, programmers can create asset management applications that operate without any price impact and no slippage.
Since 2021, the protocol has been launching products on Solana, and their Prism Aggregator-built DEX has exceeded $500 million in volume.
Due to the capital-intensive structure of traditional finance and the difficulty of transferring significant sums of money to preserve risk and reward ratios, the establishment and maintenance of actively managed funds and indices have always been capped. The guidelines and procedures used by the central party managing the funds have placed restrictions on the public. Symmetry is leading the charge in revolutionizing this due to its permissionless and trustless nature.
Anyone can use Symmetry to set up a fund in under 5 minutes. The protocol automatically generates a token designed for that fund, representing its underlying assets and whose price is decided by the weighted price movements of its asset composition when an index or actively managed fund is established. Owners of the fund token effectively hold the value of the assets included in its composition, making it simple to diversify their portfolio using just one token. The fund’s on-chain rebalancing, reweighing, and (if automated) refiltering are all handled automatically by Symmetry Engine.
Additionally, funds can serve as concentrated liquidity pools, market-making to DEXes, and a source of fees for liquidity providers for holders of fund tokens. The ability to supply liquidity with no slippage, no price impact and a price set by an on-chain oracle opens up a wide range of trading opportunities.
The following features are part of Symmetry Engine’s initial release:
On docs.symmetry.fi, you can find Symmetry Engine documentation.
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