Symmio, a leading decentralized derivatives protocol boasting over $8 billion in trading volume, has successfully raised $3.1 million in funding. This includes $2.1 million in new investments from top-tier backers such as Spartan Group, Orbs, MCLB, and Blockchain Founders Fund, alongside previous investments from renowned names like AgentChud (Messi), MS2 Capital, Gametheorizing (Selini Capital), GMoney, and Prime Ventures.
This funding round comes as Symmio prepares for its Token Generation Event (TGE) on December 16, 2024, where it will launch its $SYMM token on the Base network. Initial liquidity will be provided via SYMM/ETH pairs on Aerodrome Finance, marking a new era for the decentralized finance (DeFi) ecosystem.
Simplifying Decentralized Derivatives
Symmio addresses critical challenges in DeFi, such as liquidity fragmentation and operational inefficiencies, through its innovative intent-centric clearing layer. This technology enables users to create synthetic derivatives markets with minimal barriers, setting the stage for a streamlined, scalable trading experience.
Key Features of Symmio:
- Derivatives-as-a-Service (DaaS): A first-of-its-kind solution, Symmio allows exchanges to launch decentralized derivatives platforms in days. The protocol handles liquidity onboarding, empowering partners to focus on user acquisition and community engagement.
- Expansive Market Offerings: Symmio supports over $200M in open interest and 600+ trading pairs across networks like Arbitrum, Base, BSC, and Mantle, with non-EVM chains coming soon.
- Permissionless Market Creation: MarketMakers can create new markets for assets like Forex, Commodities, and Memes, while front-end partners focus on enhancing user experience and engagement.
Elite Investor Support
The innovative approach of Symmio has garnered the attention and support of industry leaders.
Aly Madhavji, Managing Partner at Blockchain Founders Fund, stated:
“Symmio is not just advancing DeFi—it’s setting new standards in decentralized derivatives. Their innovative AMFQ technology and scalable multichain infrastructure are reshaping what’s possible in on-chain trading. We’re excited to support their journey toward transforming the future of decentralized finance.”
Symmio’s cutting-edge solution surpasses traditional on-chain orderbook systems like DyDx by leveraging a topological, intent-based order matching system. Unlike DyDx, which caps at 200,000 transactions per second (TPS) under ideal conditions, Symmio’s infrastructure ensures scalability without compromising decentralization or trustlessness.
Revolutionizing On-Chain Trading
Symmio’s innovative technology aims to solve the scalability challenges of on-chain derivatives trading:
- Traditional systems like DyDx or Hyperliquid, even with decentralization, max out at 10,000 TPS.
- Symmio’s sharded, intent-based order matching system enables parallel order processing before on-chain settlement, supporting millions of transactions per second.
Jack Knutson, Head of Business Development at Symmio, commented:
“Symmio’s intent-centric technology represents a fundamental shift in how derivatives are traded on-chain. By eliminating traditional intermediaries, we achieve unparalleled scalability while maintaining full decentralization and trustlessness.”
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