Symmetry Launches Revolutionary Platform for Decentralized Crypto Indices and Actively Managed Funds on Solana

Paris, France, May 3rd, 2023, Chainwire

Today marks a groundbreaking step for decentralized finance (DeFi) on the Solana blockchain as Symmetry launches its highly anticipated User Interface at https://app.symmetry.fi/.

The platform aims to revolutionize the way users manage their portfolios through crypto indices and actively managed funds by providing an all-in-one solution for creating, managing, buying, and selling funds.

Symmetry is a decentralized Crypto Indices and Actively Managed Funds infrastructure layer built on Solana, powered by the Symmetry Engine. This innovative on-chain asset management infrastructure covers everything from on-chain funds, indices, and multi-token liquidity pools, to liquidity routing between indices and decentralized exchange (DEX) aggregators, and public APIs for other DeFi projects to integrate Symmetry products seamlessly.

The platform offers a wide range of opportunities for both fund managers and users. Managers can create and manage funds with multiple tokens that reweigh, rebalance, and refilter according to custom rules defined by the manager, or create a trustless Crypto Index with predefined rules. Users can create their own actively managed funds or indices and buy and sell funds created by other users or protocols.

Symmetry’s liquidity provision feature allows indices and actively managed funds to act as liquidity providers on DeFi aggregators such as PRISM and Jupiter when their token weights deviate from the target weights. This groundbreaking feature not only enables funds to rebalance at zero cost but also generates fees from aggregator users for fund managers and holders, a significant departure from traditional approaches where indices and funds typically pay fees on exchanges to rebalance.

The Symmetry Engine relies on Pyth, a reliable price oracle, to determine true prices for each asset utilized in Symmetry products. This is crucial for funds to accurately determine fund values, rebalancing triggers, and buy/sell values for users.

Example use-cases for Symmetry include decentralized index fund apps, decentralized fund management apps, treasury management tools, retail onboarding apps, copy-trading apps, and investing apps. The platform envisions a future where anyone can create an index fund, manage on-chain funds and portfolio strategies, convert wallet portfolios to funds, and integrate index or actively managed fund tokens for trading.

With the launch of the Symmetry User Interface, the world of decentralized finance on the Solana blockchain is poised to experience a paradigm shift in how users interact with and manage their crypto portfolios. As the platform continues to roll out its full suite of features to all users, the future of Solana DeFi looks brighter than ever.

Contact

PR
S. Martin
Symmetry
operations@symmetry.fi

Source

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WisdomTree launches four cryptocurrency indices in US and Europe

On Friday, WisdomTree, a financial institution with over $76 billion in assets under management, announced it had created four cryptocurrency indices in the United States and Europe to provide diversified portfolio exposure to investors. The move comes in collaboration with Ritholtz Wealth Management, OnRamp, and Gemini.

In the U.S., WisdomTree will launch the RWM WisdomTree Crypto Index. And in Europe, WisdomTree is advancing the WisdomTree Crypto Mega Cap Equal Weight (MEGA), WisdomTree Crypto Market (BLOC), and WisdomTree Crypto Altcoins (WALT) indices.

The RWM WisdomTree Crypto Index will focus on crypto assets, layer one networks, layer two protocols, oracle networks, and decentralized finance protocols, among others. But it will have a heavy emphasis on layer one networks, with 64% of the fund’s assets going into this category.

Meanwhile, MEGA will act as an equal weight index for large-cap cryptocurrencies like Bitcoin (BTC) and Ether (ETH). As for BLOC, it will track the performance of the top 70% of cryptos by market cap. Lastly, WALT is another equally-weighted index that seeks to track the performance of altcoins, and will not hold either BTC or ETH.

Related: Grayscale tells SEC ‘no basis’ to approve Bitcoin futures ETFs and not spot ETFs

Alexis Marinof, head of European operations at WisdomTree, issued the following statement with regards to the development:

As interest in crypto assets remains high and becomes a bigger focus for investors, we will continue investing in our platform and capabilities to support investors in this fast-moving market.

WisdomTree’s application to list a Bitcoin spot ETF in the United States was rejected earlier this week after the Securities and Exchange Commission determined that the proposed fund failed to meet various regulatory requirements, including those found under the Exchange Act. However, the asset manager succeeded in listing several exchange-traded products in Europe.