Whitepaper
Preamble
The SYMMIO system is continually evolving, and with it, our understanding and application of its potential, we'd like to share a glimpse into something we've been fervently working on. Our whitepaper for SYMMIO will be constantly improved & edited. Though it will provide a taste of our vision, the Whitepaper the tip of the iceberg, with more publications (SYMM v2.0, Netting and ACOs) that will follow in 2024/2025 as the research is ongoing.
Your interest drives our commitment to excellence. So, as you read this version, know that we are equally excited, if not more, to present more research to you very soon.
Stay tuned.
SYMMIO: a protocol for Intent-Based permissionless derivatives.
SYMMIO, as presented by Lafachief, 0xRequiem, Mazett, Hedzed, MoonKnight, MaliJss and 0xDredge, is an innovative protocol dedicated to transforming the way we perceive derivatives in the blockchain space.
Overview
The advancement and digitization of financial markets via blockchain technology has prompted the need for more agile, accessible, and secure methods for derivative trading. SYMMIO introduces a fresh take that morphs bilateral Over-The-Counter (OTC) derivatives into an intent-based, on-chain and permissionless format.
Key Features:
Intent-Centric Execution Environment: SYMMIO operates in an intent-driven framework, focusing on giving traders and market makers one hundred percent control and the ability to customize everything, while offering highest throughput without compromising decentralization.
P2P Bilateral Escrow System: This ensures trustless and direct settlement between the parties involved.
Economically Incentivized MEV Researchers (Watchdogs): These are entities that play a dual role. They ensure all parties involved are solvent and step in to arbitrate potential price or further disputes.
This concept will be introduced as "Symmetrical Contracts" , which facilitates the creation and trading of symmetrical (bilateral), trust-free, and permissionless settlements of synthetically crafted digital derivatives between two or more entities.
n-Dimensional Order Books: A Paradigm Shift
Traditional exchanges, whether for stocks or digital assets, use a singular parameter for order matching, which is exclusively the price. This approach severely limits market diversity and restricts Market Makers' competitive landscape.
SYMMIO's solution? n-dimensional order matching. This is a groundbreaking framework that operates on an Intent-Based Architecture. Instead of relying solely on price, this new model considers each trading parameter as a separate dimension.
Benefits:
Unprecedented Flexibility for Liquidity Providers: They can now create derivatives tailored to any market demand. They can customize based on a plethora of rule sets, be it specific funding sources, adjustable price ranges, or personalized Margin requirements.
Revolutionizes the Current Derivatives System: This adaptability can reshape not just the cryptocurrency industry's derivative segment but also possesses the power to reconfigure the entire traditional derivatives market.
As the whitepaper progresses from version 0.5 in 2022 to its current version 0.8 in 2023, it's evident that the creators are continually refining and enhancing this groundbreaking concept.
Stay tuned for more detailed insights as the whitepaper is getting released.
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