Innovating on-chain derivatives — A strategic partnership between Orbs and SYMMIO
This strategic partnership with Orbs adds significant support for the continued expansion of the SYMMIO ecosystem. Their experience, expertise, and vast network will prove extremely valuable in the continued development and innovation of intent-based on-chain derivatives.
Introducing Orbs
At its heart, Orbs is a decentralized execution layer that enhances existing smart contracts through its layer 3 technology. The Orbs Network operates as a decentralized backend infrastructure layer that executes complex scripts and supercharges existing DeFi applications, enabling increased decentralization and capabilities.
One of the primary use cases built on this layer 3 tech is the Orbs Liquidity Hub. This is a layer that sits above AMMs and solves sharded liquidity limitations by enabling DEXs to source liquidity from external avenues vs only from their own liquidity pools. Liquidity Hub is already operating on popular DEXs such as Thena and Quickswap, and Orbs is now taking this tech from the spot market and applying it to on-chain derivatives, in partnership with SYMMIO.
Supplying expertise, innovative tech, and a solver network to SYMMIO
Orbs is now positioning to apply its tech and expertise to the on-chain derivatives market. This market still remains largely untapped, with derivatives representing only a fraction of the total volume traded in DeFi. There are several reasons for this lack of growth to date, such as issues of scalability and inefficient liquidity.
SYMMIO’s intent-centric architecture tackles many of the issues plaguing current on-chain derivative protocols.
- Capital-efficiency: utilizing symmetrical agreements, capital is only committed by solvers (the counterparty) when entering a trade with a user.
- Liquidity blackhole: liquidity can be sourced from anywhere, off-chain, and be brought on-chain, not relying on the more typical liquidity pool model.
- Risk isolation: with every trade an isolated, symmetrical agreement between two parties, there is no systemic risk to the system beyond the confines of that trade.
Leveraging Layer 3 tech
This partnership will focus largely on continuing to innovate the tech required to drive the on-chain derivatives industry forward. Key components of the SYMMIO infra such as the solver bidding system, off-chain/on-chain communication oracle, and more, will be actively developed in conjunction with Orbs and their Layer 3 tech.
The Orbs Network
Orbs’ extensive network of high-value connections brings significant value to SYMMIO. Redefining the on-chain derivatives industry is no small task, and partnering with Orbs goes a long way to bringing our vision to reality. Orbs has established an impressive ecosystem network that expands into every corner of DeFi. Solvers are a major cog in the SYMMIO engine, and access to their network paves the way for onboarding additional solvers and further decentralizing the SYMMIO framework.
Expanding the SYMMIO Ecosystem
Strategic partnerships with protocols such as Orbs are the exact types of collaborations required to drive this new era of on-chain derivatives forward. We’re excited to see what Orbs is going to bring to SYMMIO and are certain they will prove to be a pivotal partner in bringing our vision of redefining DeFi derivatives to reality.
