An overview of the Symmetry Protocol, its products and services
Symmetry offers a decentralized Crypto Indices and Actively Managed Funds infrastructure layer on Solana - through on chain programs and SDKs called Symmetry Engine.
Using the Symmetry Engine, users and projects on Solana chain can tap into the following opportunities:
- Create and manage funds with multiple tokens that reweigh, rebalance and refilter (reconstitute) according to custom rules defined by the manager. These funds are called Actively Managed, where the manger has full control on selecting tokens and actively defining and redefining automation rules overtime in order to respond to market changes.
- Create a Crypto Index which follows predefined rules that remain the unchanged. Crypto indices remove any future influence of the creator to the fund making them trustless and attractive to those user who would like to diversify their portfolio without trusting a third party to manage the fund. Symmetry engine takes care of reweighing, rebalancing and refiltering indices according to their underlying rules.
- Anyone can create their own actively managed fund or an index
- Anyone can buy and sell funds created by other users or protocols
- Indices and Actively Managed Funds act as liquidity providers on DeFi aggregators such as on prism.agg when their token weights deviate from the target weights. If, for example, a fund needs to buy more SOL and sell USDC, it can automatically appear as swap option on prism.agg for anyone who wants to sell SOL in exchange for USDC. This is an extremely important feature allowing the fund not only to rebalance at zero cost, but in doing so, earning fees from the aggregator user while at the same time providing the best price on the aggregator. This is different from a traditional approach where typically indices and funds have to pay fees on exchanges to rebalance. Symmetry does the opposite, the funds earn when the liquidity is matched in an aggregator.
- Liquidity provision is automatic and is handled by Symmetry engine.
We are a core team of programmers and managers with backgrounds from universities like MIT and University of Toronto, as well as medal winners at International Olympiad in Informatics (IOI), who have worked on multiple startups before. We believe that the products we build will improve and help accelerate the world adoption of DeFi and strive to be one of the best teams in the ecosystem.
We aim to bring frictionless asset management and more informed decision making to the end users lives. We will continue to build products that DeFi community needs and will need in the future.