How They Work?

This guide will walk you through the funds product and explain how they work
When a fund is created, its state account is deployed on Solana Blockchain making it live in under a minute. Every new fund token on Symmetry starts with a price of $100 and its price changes overtime based on the performance of its underlying assets.
Whenever a user buys a fund (for example fund named 'X'), they transfer USDC and get minted 'X' tokens that represent their ownership of that fund. The USDC they transferred will be used by Symmetry Engine to buy and hold underlying assets for that fund. Anytime the user decides to sell their fund, they burn their tokens 'X', Symmetry sells underlying assets with value equivalent to the burn amount and returns USDC back to the user, or alternatively the user can claim the underlying tokens directly without Symmetry exchanging them to USDC.
Fund tokens are standard Solana tokens (SPL) which can be treated as any other Solana native asset and can be traded on secondary markets as well.
Apart from buying and selling, anyone is able to create their own fund. Funds can be deployed as actively managed and later changed to Indices. Once a fund it converted into an index, it can no longer become actively managed.