DeFi protocol Symmetry has released the first on-chain asset management infrastructure on Solana, called Symmetry Engine, announced Tuesday on Twitter.
Symmetry Engine is a collection of SDKs that let developers build on-chain asset management applications, as well as gain access to 0 price impact and 0 slippage liquidity.
Protocol has been launching products on Solana since 2021 and has exceeded $500 million in volume on their DEXs built with it Prism Aggregator,
In traditional finance, the creation and management of indices and actively managed funds have always been limited due to their capital-intensive nature as well as the complexity of moving large amounts of money to maintain the risk and reward ratio.
The public has been limited by the rules and procedures of the central parties that manage the money. Symmetry is at the forefront of revolutionizing this by its unreliable and permissive nature.
Symmetry can be used by anyone to create a fund in less than 5 minutes. When setting up an index or actively managed fund, the protocol automatically creates a token for that fund, representing its underlying asset, whose price is determined by the weighted price movements of its asset structure.
Therefore, owners of fund tokens effectively keep the value of the assets contained in its structure, allowing them to easily diversify their portfolios with just one token. The Symmetry Engine automatically takes care of the rebalancing, re-weighing and refiltering (if it is automated) of funds on-chain.
Funds can also act as concentrated liquidity pools, market DEXs and earn liquidity provider fees for fund token holders.
This opens up 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.
As of initial release, the Symmetry Engine includes the following functions:
1. Fund SDK – Creation, management, automation and tracking of indices and actively managed funds.
2. Liquidity SDK – Access to liquidity of funds
Documentation for the Symmetry Engine can be found here.