> For the complete documentation index, see [llms.txt](https://docs.symm.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.symm.io/getting-started/what-is-symmio.md).
# What is SYMMIO?
Symmio is a trustless, hybrid (combining on and off-chain) clearing house: the communication, settlement, and clearing layer for permissionless derivatives. It has no liquidity pools and no order book. Instead of trading against a pool, you trade directly against professional market makers called *solvers*, who lock collateral to back every trade. Pricing runs off-chain for speed; collateral, positions, and settlement live on-chain. It's peer-to-peer derivatives, settled on-chain.
Quoting and pricing run off-chain so they stay fast, while collateral and settlement are fully on-chain so they stay verifiable. The whole system is permissionless: anyone can build a frontend, and anyone can run a solver. The protocol is the shared infrastructure underneath both.
### Derivatives as a Service
{% hint style="success" %}
## For Crypto Natives:
### Symmio is to Derivatives, what Celestia is for Rollups.
Celestia and Eigenlayer **enable Rollups as a Service (RaaS)**\
Symmio offers **“Derivatives as a Service” (DaaS)**
DaaS can be used by exchanges or "Subnets" to create a derivatives trading protocol without any technical implementation work or liquidity onboarding; Symmio and its partners take care of everything. Several 3rd parties are already running their own exchanges **using our DaaS (**[**Carbon**](https://carbon.inc/)**,** [**Vibe**](https://vibe.trading/)**,** [**Thena**](https://perps.thena.fi/)**)** on several blockchains, including on BNB.
We are currently generating $7 Billion (in monthly volume with over $55 Billion in total volume (source: [Symmio Analytics](https://analytics.symm.io) — Feb. 2026).
Symmio takes a settlement fee from all subnets that settle on Symmio. The fees generated from settlement flow 100% back to SYMM stakers.
In this open ecosystem, actors (integration partners (protocol/exchanges), liquidity providers (MMs), oracles, clearing operators and traders) can collaborate and compete for the best prices and solutions, driving feature innovation and cost efficiency.
{% endhint %}
### What makes Symmio different
There are no liquidity pools. Every trade is a bilateral agreement between you and a solver, so there's no pool to price against, no pool-mechanic slippage and no liquidity fragmentation. A solver can make a market in anything that has a price feed, whether that's crypto, equities, commodities, FX, or prediction markets; the protocol doesn't restrict what can be listed.
Quoting and pricing run off-chain so they stay fast, while collateral and settlement are fully on-chain so they stay verifiable. The whole system is permissionless: anyone can build a frontend, and anyone can run a solver. The protocol is the shared infrastructure underneath both.
### A gateway to OTC derivatives
Because a market only needs a price feed, the range of assets a solver can list is wide:
Potential asset types
* **Cryptocurrency Futures / Perpetuals / Options, Stocks & Equities**
* **Low-Cap Perpetuals, Bonds, Yield-Swaps, Low-Cap Options**
* **Forward Rate Swaps, Commodities, Volatility Indices, Real Estate Indexes**
* **FX Pairs, Inflation-Protected Assets, Basket Indices**
* **ETFs, Options, Carbon Credits, Weather Markets**
* **Energy Contracts, Macroeconomic Indicators, Credit Default Swaps**
* **NFT Floor Prices, IPO Exposure, Metaverse Land Parcels, Prediction Markets**
* **Election Outcomes, Sporting Events**
O**r any other asset not listed here, with any possible price function.**
{% hint style="info" %}
Symmio supports [options trading](/options-protocol-architecture/overview.md), including call and put options across a range of assets.
{% endhint %}
### Who uses Symmio?
**Traders** reach Symmio through frontends such as Carbon, Thena, and Vibe. You don't touch the protocol directly; you use a venue built on it.
**Frontend Builders (Exchanges)** build the trading interface and own everything user-facing: UX, branding, and user acquisition. Symmio handles settlement.
**Solvers** take the other side of trades. They're professional market makers who typically hedge their risk externally and compete to quote the best price.
---
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