Higher level Roadmap 2024
Introduction
DEFI needs request-for-quote (RFQ) systems to request the best potential sources of liquidity from anywhere. RFQs are used in traditional finance for less regularly traded assets such as corporate or municipal bonds and options. They are needed for DEFI to provide competitive financial services.
Our roadmap is dictated by the following observations:
Liquidity is crucially needed on-chain for leverage trading, where trading experience is plagued with high costs and the inability to trade at all times. Liquidity is the most abundant and cheapest in traditional financial markets. Bridging off-chain liquidity for on-chain leveraged trading can be a pre-made white-label solution to major liquidity hubs on any chain.
SYMMIO's unique technology aligns with the incentives of traders and protocols. We expect more value-added services to be built on top of our technology, which will mean more frontends, partnerships, and liquidity.
RFQs are needed to deepen and smoothen liquidity on-chain. They can be offered as a service for various purposes, from serving option markets that traditionally trade on RFQs, to enabling large trades by sourcing liquidity from multiple or all potential counterparties.
Indicative roadmap:
I) 2023 (ongoing): white labeling PERP services for the main liquidity hub on each chain
The ongoing effort is to provide white-labeling services for efficient crypto-leveraged trading
Cloverfield functionalities will be brought up to state of the art, with the full suite of advanced orders
it will be proposed as a white-labeling service to one central liquidity hub on each chain (see the fees and incentive section of this gitbook)
Cloverfield currently bridges the most liquid crypto Perp products on-chain. The short-term expansion will involve the following;
onboarding more hedgers to decentralize liquidity provision
expanding to more liquidity sources, notably other brokers
Further expansion (2024) will include making more products available:
Next on the line are CFD-type FX and Equity products, which are already available in closed beta mode thanks to the Dsynth front end, with broker agreements to expand liquidity later.
II) June 2023-June 2024: new frontends for more value-added services
Service providers that build on SYMMIO can fully hedge their positions, allowing them to align their interests with their users. This unique feature makes it possible to build value-added services for users.
More frontends will be built on the SYMM SDK to provide unique value-added services:
The Pear Protocol will offer the ability to make low-margin long-short trades built around narrative trading. Narratives are crucial in crypto; "narratives we believe in and put money on” could be the next.
Community Investing or copycat trading, whether quantitative or qualitative, is one of the products that can uniquely be built on top of SYMMIO. Copycat trading is not possible with closed systems such as GMX or GNS, as these would lead to unbalanced books and costly liquidity.
We note that expanding the offer of services built on top of SYMMIO will also contribute to expanding the available liquidity, as this facilitates:
onboarding new hedgers (independent frontends will usually be hedgers)
onboarding new brokers (some provide more specialized products that will fit new offerings)
III) H2 2024: RFQs as a service
RFQs are the dominant trading technology for less liquid assets such as municipal bonds and options in traditional finance. The same tools are needed on-chain to create new markets or deepen existing ones:
less frequently traded products (municipal bonds in tradfi, protocols which want to distribute their revenue to stakers rather than spend on liquidity incentives)
redundant products (such as options where the same exposure can be achieved by trading different amounts on all possible strikes and maturities)
Large orders, i.e., orders that would impact price if executed on order books, can be executed with less impact as liquidity forms into RFQ-type systems.
The SYMMIO tech, now largely focused on bridging liquidity from traditional financial markets where it is cheap and abundant, to on-chain trading where it can be transparently secured, can also be deployed as a service to deepen on-chain liquidity and make sure the different components of the Defi lego always can click.
Netting, Open Market for position closing & Positions as tradeable NFTs
In research and hopefully coming soon to a SYMMIO frontend next to you!
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