DeFi protocol Symmetry has released the first on-chain asset management framework on Solana called Symmetry Engine, announced on Twitter on Tuesday.
Symmetry Engine is a collection of SDKs that allows developers to build on-chain asset management applications, as well as access 0 price impact and 0 liquidity slippage.
Protocol has been launching products on Solana since 2021 and has exceeded over $500 million in volume on their DEX built with prism aggregator.
In traditional finance, the creation and management of indexes and actively managed funds has always been limited due to their capital-intensive nature, as well as the complexity of moving large sums of money to maintain ratios. of risk and reward.
The public has been limited by the rules and methodologies of the central parties that manage the funds. Symmetry is at the forefront of the revolution by its trustless and permissionless nature.
Symmetry can be used by anyone to create a fund in less than 5 minutes. When establishing an index or actively managed fund, the protocol automatically creates a token specifically for that fund, which represents its underlying assets, the price of which is determined by the weighted price movements of its composition. of assets.
Therefore, the owners of the fund token effectively own the value of the assets contained in its composition, allowing them to easily diversify their portfolio with a single token. Symmetry Engine supports automatic rebalancing, re-weighing and re-filtering (in case it is automated) of the on-chain fund.
Funds can also serve as concentrated liquidity pools, market making for DEXs, and liquidity provider compensation for fund token holders.
This opens up a wide range of possibilities for traders, as liquidity can be offered with no slippage, no price impact, and at a price determined by an on-chain oracle.
With the initial release, Symmetry Engine contains the following features:
1. SDK Funds – Creation, management, automation and monitoring of indexes and actively managed funds.
2. Liquidity SDK – Access to fund liquidity
Documentation for Symmetry Engine is available here.
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