SYMMIO Stakeholders & Frens Letter — Q1 2024: Winter is over
The first quarter of 2024 has been very eventful in the SYMMIO ecosystem, with great milestones and new partnerships. We announced a strategic partnership with Orbs, Core Markets blasted off to a great start on BLAST chain — with nearly $100 million in volume to date, and speaking of which: SYMMIO frontend partners crossed over $3 Billion in total volume.
Strategic Partnership with Orbs
Orbs and SYMMIO officially announced a strategic partnership, with Orbs adding significant experience and resources to the SYMMIO ecosystem. By leveraging their Layer 3 technology, we will focus on continued development and innovation of the SYMMIO infrastructure, including a solver bidding system, off-chain/on-chain communication oracle, and more.
Core — SYMM-powered derivatives on Blast Network
Core is an intent-based derivatives exchange that launched in early March on the BLAST network. Powered by SYMMIO, and utilizing IntentX’s frontend solution, users can trade over 250 crypto markets, with leverage.
Core received an honorable mention in the hotly-contested Big Bang competition, an initiative by BLAST with winning projects allocated significant airdrops to boost their development and exposure across the BLAST network.
In the month since its launch, Core has facilitated nearly $100m in trading volume. We’re excited to see the impact and adoption of next-gen, intent-based derivatives on BLAST via the dynamic team at Core.
Metrics and Major Volume Milestone: $3 Billion in total traded volume across all SYMMIO frontends
We have just crossed the $3,000,000,000 mark in total perps trading volume across the entire SYMMIO ecosystem. This achievement came from our partners’ shared success: IntentX, Thena, Based Markets, and Core Markets. With new frontend partners currently being onboarded and more in the works, we’re already on our way to the next milestone.
SYMMIO TGE
The $SYMM token generation event is scheduled for Q2 of this year. Be sure to follow our socials and sign up here to be the first in the know.
IntentX — Serviced frontend provider and major tech update
We recently unveiled our Serviced Frontend program, an initiative aimed at providing a streamlined onboarding process for new 3rd-party frontends. This is an optional service, where prospective frontends have access to a whitelabel solution, significantly reducing their startup costs and requirements and offering them technical and operational support.
For SYMMIO, this facilitates the onboarding of significantly more frontends than would otherwise be possible, while also delivering a higher standard of frontend partners. The first provider of this service is IntentX. Their experience and knowledge of developing a leading frontend on SYMMIO will prove invaluable to incoming protocols wanting to offer SYMMIO-powered derivatives to their user bases.
IntentX also released its SL/TP feature, developed internally, and is currently in its Beta phase. Users are now able to set take-profit and stop-loss levels per position, a much-requested feature. Read more about how it works here, and test it out on app.intentx.io.
Thena — UX overhaul, added features, and improved backend
Thena, our pioneering frontend partner on BNB, has partnered with IntentX and will be utilizing their meta front-end service to accelerate the development of ALPHA and its upcoming release on opBNB.
Planned developments include:
- UX improvements
- Real-time liquidation price monitoring
- Customizable layouts
- Stop loss
- Much more
Thena has also started revealing major updates to their system on both the front and back end. The new-look UI improves usability, while the underlying tech improves speed and security. Additionally, they have partnered with Orbs and Odos protocol, enhancing the spot trading experience.
Markets and Listings: 250+ and counting
Solvers on SYMMIO keep adding new markets daily, enabling users to trade the latest trending and exotic tokens — with leverage of course.
Some of the notable recent markets listed by SYMMIO solvers:
In-depth AMA with IntentX and Thena
Lafa (SYMMIO founder) joined Levy (IntentX founder), and Theseus (founder of Thena), for an in-depth discussion about the current state and future potential of on-chain derivatives. Furthermore, they discussed the industry-wide challenge of liquidity fragmentation, modular protocol design, and the serviced frontend model and its impact on the expansion of the SYMMIO network.
Catch the full AMA here:
SYMMIO Vault tech:
Zero Issues found in latest Sherlock Audit
Early this year, the Sherlock crowd audit came back clean with zero issues found.
Working with Sherlock through several audits and competitions has challenged and driven us to constantly improve our systems and level of output.
