Welcome to the Symmio Foundation GitBook

Welcome to the hub for everything related to the Symmio Foundation — the heart of governance, funding, and innovation for the Symmio protocol. Here, you’ll find detailed insights into the governance framework, $SYMM token, staking mechanics, and the tokenomics driving the ecosystem forward. This GitBook serves as the definitive resource for understanding how the Foundation supports and sustains the development of Symmio’s revolutionary derivatives protocol.

Table of contents

Governance

All that is there to know about Governing the Symmio Protocol

Information surrounding the TGE happening middle of December

Symmio Foundation

Token related information

Everything around Token incentives, for Liquidity Providers on Symmio or DEXs.

The Token Generation Event (TGE) official launch is planned for 14:30 UTC December 16th, 2024.

Stay Informed

$SYMM - Total Supply 880,080,088 tokens.

Utility of $SYMM

Staking $SYMM to earn revenue from all Symmio trades.

Staked $SYMM earn 100% of all Symmio protocol revenue across all frontends.

Learn more about Fees

Governance

Holding $SYMM will also grant users governance rights, which can be exercised in the later-introduced on-chain and off-chain snapshot-based voting systems.

Overview

Staking is a core component of the Symmio ecosystem, designed to reward long-term participation and support for the platform. By staking the native $SYMM token, token holders can directly contribute to the network’s security and liquidity, while earning a portion of the settlement fees generated from derivatives trading.

What is Staking?

Staking involves depositing your $SYMM tokens into a dedicated staking contract, which in turn grants you a share of the platform’s daily settlement fees. As a “clearing layer” for derivatives, Symmio processes a high volume of trades and collects settlement costs. Stakers earn passive income from these fees, reflecting their role as active supporters of the network.

How Staking Works

Key Concepts

• Clearing Layer: Unlike general-purpose smart contract platforms that cater primarily to developers, Symmio is tailored for financial creators. By acting as a specialized clearing layer for derivatives, Symmio streamlines the process of opening, settling, and managing positions between multiple parties.

• Stakeholders: The ecosystem involves three main groups:

  • Front-ends (Exchanges): User-facing platforms that integrate with Symmio’s clearing layer to offer trading interfaces.

  • Market Makers and Solvers: Entities that provide liquidity and price discovery on top of Symmio.

  • SYMM Token Holders (Stakers & Validators): Individuals or organizations that stake $SYMM and earn a share of settlement fees, guiding the network’s governance and long-term direction.

Settlement Costs and Earnings

Whenever a trade is settled through the Symmio platform, the initiating party (referred to as “Party A”) pays a settlement cost. This fee is one of the primary revenue streams for the network. After covering all associated expenses and profit shares for involved exchanges and market makers, a significant portion of these fees—referred to as the “platform fee”—is distributed to $SYMM stakers.

Staking Mechanics

• No Lock-Up Periods: Stakers can add or remove their $SYMM tokens at any time.

• Continuous Rewards: Fees are accrued in stablecoins and are distributed on a rolling seven-day cycle.

• Fair Distribution: Rewards are allocated based on the proportion of $SYMM tokens you have staked relative to the total amount staked.

Future Updates and Technical Details

We are currently preparing the staking contract and fee distribution mechanisms. Technical specifications, smart contract addresses, and exact distribution parameters will be shared as they are finalized.

Stay tuned for updates, code snippets, and detailed parameters in subsequent releases.

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SIP-001: Decide on TGE details for the upcoming launch Authors: Lafachief Date: 11/12/2024 Status: voted (Option 5 won)

Preamble

This governance proposal aims to improve the tokenomics of SYMMIO in light of a shift in our launch strategy. Initially, the plan was to ensure Symmio achieved a certain daily volume milestone alongside launching the token on a centralized exchange (CEX). However, due to the platform’s ongoing improvements taking longer than anticipated, coupled with the community’s eagerness and favorable market conditions, we propose accelerating the launch timeline.

Launching immediately presents challenges, primarily the need to provide liquidity on a decentralized exchange (DEX) . A key question arises: Where should this liquidity come from?

This proposal aims to solve these challenges by:

• Deciding to use pre-earned fees as liquidity for the DEX launch.

• Additionally proposing changes to the vesting schedule and incentivize liquidity provision.

Based on community feedback, we present five options for consideration.

Abstract

This proposal presents five options for the SYMM token vesting and Token Generation Event (TGE) structure, each designed to address specific community concerns and project objectives. The options range from maintaining the existing 12-month vesting schedule to introducing an immediate token launch with full unlock and no vesting, as well as the option to have improved vesting mechanics with early unlocks. We also propose 2 options for an immediate launch with staking & vesting contract developments deferred for after the token launch. We provide an overview of the motivation, specifications, rationale, and potential impacts of each option to facilitate an informed decision by the community.

Simple Summary & Specifications

We propose to focus on the core structure of the SYMM token vesting and early unlock options, deferring details like incentives, fee distribution, and liquidity pool (LP) mechanics to be finalized later. The key options for the community to vote on are:

Detailed Specifications can be found in the subpages on the left.

Maintain the Current Plan: Keep everything as is with a 12-month vesting period. Develop single staking, LP staking and vesting contracts audit them, then launch.

Extend the Vesting Period: Increase the vesting period beyond 12 to XX months, keeping all other aspects unchanged. Develop single staking, LP staking and vesting contracts audit them, then launch.

Modified Vesting with Early Unlock Option: Keep vesting at 12 months but allow for early token unlock with a penalty (percentage to be determined) and incentivize LP participation to unlock early. Develop a modified vesting schedule with an early unlock option, as well as POL distribution & staking audit it, and make it accessible to the community, then introduce a yearly 1.875% inflation rate (16,500,000 $SYMM, taken from liquidity incentives) to incentivize LPs (could be an UNI-v2 or UNI-v3 pool) via developed staking contracts to provide liquidity, until voted else, then launch.

Work on single-staking after launch.

Full token unlock at TGE (No Vesting) Immediately: Proceed with the TGE within a maximum of two weeks after the vote concludes by launching a simple ERC-20 OpenZeppelin token. Unlock all tokens at the Token Generation Event (TGE) with no vesting, provide early migrators with an additional bonus of X tokens/fees (exact details of the bonus should be decided in a follow up vote), and use all pre-earned fees as Protocol-Owned Liquidity (POL).

Later:

Develop & audit staking contracts for LPs & Introduce a yearly inflation rate of 1.875% (16,500,000 $SYMM, taken from liquidity incentives) to incentivize LPs (could be an UNI-v2 or UNI-v3 pool) to provide liquidity, subject to future governance votes, develop single-staking after.

Immediately: Proceed with the TGE within a maximum of two weeks after the vote concludes by launching a simple pre-audited ERC-20 Open Zeppelin token. Establish a liquidity pool (LP) with an 80/20 ratio, immediately distribute 5% of $SYMM to late migrators and 10% to early migrators, and use accumulated fees as Protocol-Owned Liquidity (POL).

Rationale

Each option presents a different approach to addressing the challenges of immediate token launch, liquidity provision, and balancing the interests of various stakeholders.

• Options 1 and 2 maintain or extend the original vesting plan, focusing on a gradual token release but requiring more development and audit time before the TGE.

• Option 3 introduces flexibility by allowing early unlocks with or without penalties, aiming to balance immediate liquidity needs with protections against predictable and long-lasting token unlocks. It provides the greatest incentives for all users to immediately provide liquidity by offering a favorable early vesting unlock but also requires more development time before the TGE.

• Option 4 accelerates the TGE process by immediately distributing all tokens at launch while deferring the development of LP/single staking until after the launch. It uses pre-earned fees as Protocol-Owned Liquidity (POL) to support liquidity from day one.

A gentle introduction to the Symmio DAO

TL:DR:

• Symmio is a trustless on-chain clearing house for derivatives, enabling "Asset Abstraction" without requiring physical assets, thus allowing the creation of broad derivatives.

• Derivatives as a Service (DaaS) simplifies the launch of derivatives platforms for developers and exchanges, with Symmio managing the backend complexity.

• $SYMM token enables governance, giving holders the power to influence protocol decisions, upgrades, and expansions through the Symmio DAO.

• Governance in Symmio is decentralized, moving away from traditional board-led decisions to community-driven smart contract-based choices, promoting transparency and trustlessness.

• Benefits include solving liquidity fragmentation, trustless settlement, and complex market structures, aiming for broader adoption of derivatives in DeFi and TradFi.

• Participation in governance can be through voting, delegating votes, or becoming a delegate, engaging in community discussions to shape Symmio’s future.

• Symmio involves various stakeholders like traders, liquidity providers, and developers, all benefiting from a more efficient on-chain financial system.

In a nutshell:

Symmio is a trustless on-chain clearing house that acts as a universal settlement and clearing layer for permissionless derivatives. Its protocols enable “Asset Abstraction” for the first time in DeFi, empowering anyone to create and trade a vast array of derivatives—options, futures, exotic products—without needing to hold underlying physical assets.

With Symmio’s intent-centric “Derivatives as a Service” (DaaS) approach, developers and exchanges can quickly roll out derivatives trading platforms without extensive technical overhead or separate liquidity onboarding. Symmio’s partners and modular architecture handle everything behind the scenes. Several third parties already run their own on-chain exchanges using Symmio’s infrastructure across multiple blockchains, generating significant volume and revenue, much of which will flow back to the Symmio DAO and $SYMM token stakers over time.

The distribution of the $SYMM governance token will decentralize governance of Symmio’s protocols, clearing infrastructure, and ecosystem, empowering the Symmio DAO to shape the future of on-chain derivatives. By holding or delegating $SYMM tokens, you can propose and vote on governance decisions that guide Symmio’s technology and community growth.

With this Symmio enables a new paradigm for derivatives: a trustless, modular clearing layer that allows anyone to build and trade sophisticated financial instruments on-chain.

Why does this matter?

Symmio solves critical issues in DeFi and TradFi: liquidity fragmentation, lack of trustless settlement, and complex market structure. By unifying these elements, Symmio paves the way for mass adoption—by retail, institutional players, and beyond—making sophisticated derivatives markets accessible, efficient, and secure.

What’s governance?

Governance is how decisions get made. In traditional (web2) finance, decisions are made by a small board of directors and shareholders must trust them. In web3, and especially in Symmio’s ecosystem, governance is progressively decentralized, giving decision-making power to the community of token holders rather than a centralized authority.

Traditional web2 governance:

• Usually controlled by a board of directors.

• Decision-making is often opaque.

• Shareholders rely on a board’s goodwill and legal frameworks for accountability.

Web3 governance (like Symmio’s):

• Symmio starts off built by a small team but progressively decentralizes control as the protocol matures.

• Decisions will be codified in smart contracts and enforced trustlessly.

• Token holders ($SYMM) govern Symmio’s underlying protocols and expansions by voting on proposals that directly affect the protocol’s operations and future direction.

Three key ingredients of Symmio’s governance model:

1. DAO formation: The Symmio DAO is a decentralized autonomous organization that holds decision-making authority over Symmio’s clearing infrastructure and supported markets. The DAO operates under a set of rules (similar to a “Constitution”) that define how proposals are made, debated, and executed.

2. Governance token launch ($SYMM): The $SYMM token grants membership in the DAO. Token holders can vote on proposals that shape Symmio’s future.

3. Code: Smart contracts will implement the DAO’s governance rules, creating a transparent, trustless framework where changes must be approved by the DAO.

So $SYMM is a token, kind of like $ETH?

They’re both tokens, but with different purposes:

How $ETH and $SYMM are similar:

• Both run on decentralized blockchain technology.

• Both can be held in compatible wallets and traded.

How $ETH and $SYMM are different:

• $ETH is a transactional token (used to pay for gas and transaction fees).

• $SYMM is a governance / utility token (used to vote on proposals and influence Symmio’s direction).

• Holding $SYMM grants you governance rights in the Symmio ecosystem, while holding $ETH does not give you governance rights in Ethereum’s protocol.

  • Staking Symm gives you fees of the clearing platform, similar to how ETH can be staked to earn fees from validating transactions.

  • Locking Symm reduces the settlement costs, ideal for builders that want to build an exchange on top of Symmio.

  • Burning Symm reduces fees, ideal for traders who want to lower their trading fees.

Why is this important?

The decentralization of Symmio’s governance is critical for the future of DeFi’s derivative markets. Instead of trusting a small team, token holders collectively guide the protocol. This community-driven model encourages innovation, responsiveness to user needs, and long-term sustainability.

Holding $SYMM tokens will give you a stake in Symmio’s success. As a $SYMM holder, you can influence how Symmio evolves—what new derivatives are supported, how liquidity is sourced, how fees are structured, and more. By participating in governance, you help shape DeFi’s next frontier of derivatives, bringing cutting-edge finance on-chain.

Cool beans. Is there an airdrop?

Yes. Symmio Points

How does Symmio’s governance work?

Symmio’s governance has two main components:

1. Symmio DAO:

   1. The global community of $SYMM token holders and their delegates.

   2. Responsible for guiding Symmio’s clearing layer, supported protocols, and future expansions.

   3. Can propose upgrades, introduce new products (like novel derivatives markets), adjust fee structures, and shape risk management policies.

2. Security & Risk Framework: While Symmio’s approach is inherently modular and isolated for risk management, the DAO can refine these systems over time. The DAO can also authorize the creation of new chains or additional product lines, ensuring governance keeps pace with innovation.

3. Over time, as Symmio grows into a more complex ecosystem, the DAO will oversee upgrades to the core protocols, ensuring efficient and secure settlement for all derivatives. This might include introducing new liquidity partnerships, integrating advanced market-making strategies, or unlocking novel financial products.

What sorts of decisions is Symmio’s governance system responsible for making?

Examples include:

• Upgrading core clearing contracts or underlying smart contracts for improved efficiency or security.

• Approving or adjusting which derivatives markets are supported, and what parameters (like collateral types, leverage limits) are applied.

• Authorizing and configuring new integrations with liquidity providers, oracles, or other protocols.

• Launching new products—like options, structured products, or prediction markets—and setting fee parameters that reward liquidity providers and $SYMM stakers.

In other words, the Symmio DAO’s scope covers anything that affects the long-term stability, security, functionality, and growth of the Symmio ecosystem.

Who cares about this stuff?

Symmio involves a variety of stakeholders, all aligned to create a more fluid and efficient global financial system on-chain:

• Web3 user layer: Traders and users of derivatives (perpetuals, options, etc.) on partner DEXs or front-ends integrated with Symmio.

• Integration partners (protocols/exchanges): Builders and entrepreneurs launching their own derivatives markets and using Symmio’s infrastructure.

• Liquidity providers (MMs) & Solvers: Market makers who plug into Symmio to source and hedge liquidity efficiently, bridging CEX liquidity with DeFi custody.

• Oracles and clearing operators: Entities providing real-time price feeds, settlement calculations, and reliable risk management layers.

• Traders and investors: Those who rely on Symmio’s infrastructure to get best-in-class liquidity and trading conditions.

• Research & Development layer: Innovators crafting new derivative products, improving efficiency, and designing advanced market mechanisms.

All of these participants have a stake in Symmio’s success, and governance ensures they can coordinate, innovate, and prosper together.

As a token holder, how do I participate?

You have multiple options:

1. Delegate your voting power: If you don’t have time for daily governance but want your voice represented, delegate your votes to a trusted individual or group (a “delegate”) who aligns with your values.

2. Self-delegate and vote directly: Perfect if you’re interested in actively shaping Symmio’s direction and have the time to stay informed about proposals.

3. Become a delegate: Represent other token holders’ interests, help them navigate governance, and ensure that thoughtful proposals get passed. This requires time, expertise, and ongoing engagement.

You can also join discussions on the Symmio DAO governance forum, Discord, and other community channels. The community’s collective intelligence will guide Symmio’s evolution.

Where can I learn more?

This introduction is just the beginning. Dive deeper into the following resources:

Where can I ask for help?

Welcome to the future of governance!

By participating in Symmio’s governance, you stand at the frontier of DeFi derivatives innovation. Together, $SYMM holders guide a groundbreaking ecosystem that’s setting the standard for efficient, trustworthy, and infinitely extensible on-chain financial infrastructure.

Using $SYMM as a Fee token (similar to Binance $BNB)

Additionally, $SYMM can be used to pay trading fees, offering traders (in collaboration with Frontends) or market makers a discount. Notably, $SYMM used for fee payments will be permanently burnt, introducing a deflationary aspect to the token economy.

coming soon...

Locking $SYMM to get fee rebates

$SYMM allows frontends, to receive fee rebates when trading on Symmio or offering others to trade.

This especially incentivizes high-volume users like Frontends to buy and hold $SYMM.

Symmio Points program was officially stealth-launched on June 3, 2024, with an initial vague announcement on Discord, specially designed to reward loyal users for their meaningful contributions to the ecosystem. Now, with the launch of IntentX Trading Olympics on November 4, coinciding with the public release of Symmio v0.84, this program takes a new, more impactful shape. Throughout this ongoing campaign, points will represent each user’s commitment and activity within the Symmio ecosystem, creating a transparent track record of genuine engagement.

Currently running Point Programs:

A Note on Point Calculation and Distribution

To maintain the integrity of the Symmio Points campaign, we will not disclose the exact calculation or distribution methods for points. This intentional vagueness is designed to prevent gaming of the program, ensuring that points reflect genuine engagement rather than exploitative behavior. Our aim is to reward authentic contributions that truly benefit the Symmio ecosystem.

Aren't Points Dead?

The Symmio team believes that using points as a tool to attract users to an underdeveloped product is indeed outdated. Points should reward and incentivize users who genuinely enjoy and love using the platform, not simply attract participants who are only interested in farming rewards to boost metrics of a cardhouse like structure. This belief is why we held off on publicly promoting our points program until we were fully confident in the platform’s quality. Now, with the launch of the IntentX Trading Olympics, our confidence in the product has never been stronger, and we’re excited to reward users who value what Symmio has to offer.

What is the Symmio Points Program?

The Symmio Points program is a rewards system aimed at acknowledging and incentivizing users, contributors, and believers in the Symmio project as we move towards our Token Generation Event (TGE). Over the next four months, users can earn points through a range of activities within the Symmio ecosystem, including:

1. Trading Competitions: Users can participate in trading events to compete for points, rewarding their active engagement and volume generated on Symmio frontends.

2. Platform Usage Rewards: Users who generate volume by actively trading and using the Symmio platform will be credited points, incentivizing regular usage.

3. Ecosystem Token Holding Rewards: Points will also be distributed to those who hold Symmio ecosystem tokens, encouraging loyalty and commitment to the project’s growth.

4. Just engage with Symmio: As we did in Season 1, we’ll continue to keep the requirements for earning points intentionally vague. Rather than focusing on specific targets, simply be an active community member, engage with the Symmio ecosystem, and share its vision with others. Genuine involvement and contribution won’t go unnoticed—points will be awarded to those who truly embody the spirit of Symmio.

Why did we launch a Points Program?

The Symmio Points program was created to reward and benefit our most loyal users as well as also aiming to attract new participants, broadening our community and encouraging engagement as we approach TGE designed to recognize early supporters while welcoming fresh contributors into the Symmio ecosystem.

What Can I Expect for My Points?

An airdrop of $SYMM tokens will be allocated based on the points earned, with the specific amount remaining undisclosed to keep expectations manageable. Our goal is to under-promise and over-deliver, ensuring that loyal participants feel valued and rewarded as Symmio moves forward.

Why Do We Support Frontends additionally? (e.g., IntentX Trading Competition)

As Symmio does not operate a frontend, we’re committed to empowering our ecosystem builders by directly supporting their initiatives. By providing $SYMM to our frontend partners, like IntentX, we enable them to design and fund their own incentive programs. This approach not only fosters independence but also allows each frontend to create tailored experiences that resonate with their user base. We plan to extend this support to other frontend partners as well, and once the Symmio DAO is established, we envision these grants being distributed regularly, ensuring consistent backing for the broader Symmio ecosystem.

TL:DR

Initial Token Allocation: 30% of $SYMM tokens are available at Token Generation Event (TGE), with the rest vesting over 9 months (potentially reduced to 6 months due to setup time).

• Vesting & Early Unlock:

  • Remaining tokens vest over time but can be unlocked early for a fee, where 50% of the vested tokens are given, and the rest redistributed.

  • Early unlock fees benefit the community by rewarding long-term holders, liquidity providers, etc.

• Liquidity Pool Incentives:

  • Instead of paying an unlock fee, holders can add liquidity to an 80/20 ($SYMM/USDC) pool, waiving the fee, locking LP tokens, and gaining immediate access to protocol fees.

• Bonuses for Loyalty:

  • Holders who wait through vesting or later provide liquidity get bonuses like larger protocol fee shares and additional $SYMM.

• Airdrop Distribution:

  • Tokens are distributed to OG, Season 1, and Season 2 traders.

  • Only 30% of airdropped tokens are given at TGE; the rest vest and require activity on the platform to unlock fully.

This strategy aims to balance immediate liquidity needs with incentives for long-term engagement and ecosystem stability.

Note: If it takes 3 months to complete audits and technical preparations, those 3 months are deducted from the vesting duration. A 9-month schedule effectively becomes 6 months of vesting once the contracts are live.

IMPORTANT NOTE: All $SYMM tokens are subjected to the same vesting and unlocking mechanisms regardless of who holds them, including the team. We are wholly committed to enacting the community's vision and decisions for the project, and will always be subject to the same mechanisms and rules as any other holder.

(Available at Launch) Early Unlock Mechanism

For holders who prefer immediate liquidity over waiting out the vesting period, an Early Unlock mechanism is available. This mechanism trades convenience for a fee.

How Early Unlock Works:

• Optionality: Immediately or shortly after TGE, an Early Unlock contract will be deployed, allowing holders to unlock their yet-vested tokens before the vesting period ends for a fee.

• Fee for Early Unlock: Early unlocks come with a fee on the remaining vested portion.

• Example: A holder with a total of 1,000,000 $SYMM will automatically 300,000 at TGE. The remaining 700,000 are vested. If they choose to unlock early, they will receive 50% of the vested amount —350,000 tokens—immediately, forfeiting the other 350,000.

Early Unlock Fee Redistribution: The forfeited tokens do not vanish; they are redistributed to those who do not unlock early, liquidity providers, and other ecosystem incentives. This ensures that the broader community benefits from early exits.

(Expected in Q1) Liquidity Pool (LP) Incentives and No-Fee Early Unlock

One of our main objectives is to foster deep liquidity and reduce slippage for $SYMM trades. To achieve this, Symmio offers an alternative path for early unlock:

Liquidity Provision (80/20 Model): Instead of taking the fee, holders can choose to commit their unlocked tokens to an 80/20 liquidity pool (e.g., 80% $SYMM / 20% USDC) at TGE or soon after. This approach:

• Waives the early unlock fee.

• Requires holders to commit stablecoins (e.g., USDC) to match their $SYMM.

• Locks the LP tokens for a predetermined period, ensuring stability in the liquidity pool.

• Grants immediate access to accrued protocol fees and potential bonuses, incentivizing early liquidity provision.

Protocol-Owned Liquidity (POL): The platform will use pre-accumulated fees to seed and deepen liquidity from Day 1. Over time, these fees can be reclaimed by LPs who participate in the early unlock-for-liquidity option, creating a robust incentive to support the ecosystem’s growth and price stability.

Bonuses for Loyal Holders and Late Claimants

Holders who choose not to unlock early and wait through the vesting period can be eligible for bonuses or improved ratios over time. Similarly, those who convert their vested tokens into LP shares at a later stage may benefit from:

• Larger fee shares from the protocol.

• Additional $SYMM distribution.

• Access to pre-launch fees that have accrued over time.

This aligns the interests of loyal holders, providing them with potential upside for their patience.

Summary of Options

1. Immediate Partial Unlock (30% at TGE): Everyone gets an upfront stake.

2. Vesting for Remaining Tokens (70%): Tokens follow a logarithmic vesting pattern, potentially shortened by the time taken to finalize vesting contracts.

3. Early Unlock with Fee: Gain immediate liquidity of the vested portion at a cost, with penalties redistributed back into the ecosystem.

4. No-Fee Early Unlock into LP: Commit tokens to an 80/20 liquidity pool, waive penalties, and gain access to accrued fees—bolstering liquidity and stability.

5. Long-Term Loyalty Bonuses: Wait out your vesting or provide liquidity at a later stage to receive enhanced rewards and bonuses.

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Why Was Season 1 released in Stealth?

At Symmio, our focus is on building genuine good products & focusing on engagement rather than inflating metrics with superficial activity. We know that points programs often risk creating artificial numbers and tend to dilute the actual real numbers of the platform. By running Season 1 of the Symmio Points program in stealth, we aimed to ensure that points went to those truly using and supporting the platform over the past five months. This approach allowed us to quietly reward our actual users without attracting opportunistic participation. Our single, brief announcement was intentionally vague, ensuring that only dedicated community members and active traders would benefit, aligning with our long-term vision for Symmio’s growth and integrity. We believe this approach has been successful, and initial reports and analysis of our metrics support this outcome. As we move closer to the TGE and refine the platform’s user experience, our focus now shifts to expanding Symmio’s reach and recognition. This next phase will reward activities that generate awareness and foster deeper engagement, helping to build mindshare within the community and beyond.

When did it start?

What was tracked?

Since the launch, we’ve tracked user activity across all frontends, awarding points based on each user’s trading volume relative to the total volume on the platform. Each day, 60,000 points were distributed to users across all frontends over the five-month period, ensuring points allocation directly reflected each participant's actual trading activity.

In total 9,240,000 points were awarded.

Season 1 concluded officially on November 4, coinciding with the launch of the IntentX trading competition. For transparency, exact points per wallet have been published in our GitBook, and a live webpage displaying each user’s points balance is available.

How can I receive my rewards?

Results are published here:

SIP-002: Formal Establishment of the Symmio DAO Authors: Lafa, Jack Knutson Date: 12/11/2024 Status: Proposed

Summary

This SIP formally establishes the Symmio DAO as a decentralized governance body. It defines the DAO’s governance structure, operational framework, and procedures for submitting and voting on proposals, in line with the Symmio DAO Constitution. The DAO will be the primary decision-making entity responsible for managing the treasury, advancing Symmio’s mission, and overseeing all decentralized projects within the Symmio ecosystem.

Motivation

To formalize the decentralized governance framework, empower token holders, and enable transparent, on-chain decision-making, this SIP is crucial for the legal and functional foundation of the Symmio DAO. This proposal aims to activate Symmio’s decentralized governance by enabling SYMM token holders to participate in decision-making processes.

Specifications

1. Symmio DAO Formation

The Symmio DAO is hereby established as a decentralized, token-based governance entity. Its primary purpose is to manage the Symmio ecosystem by voting on and enacting binding DAO Resolutions in accordance with the Symmio DAO Constitution and Articles of Association.

2. Token Holder Governance

Token holders of SYMM, who stake their tokens in the designated governance contract, are deemed “beneficiaries” and can participate in DAO activities, including:

• Proposing new governance changes.

• Voting on active proposals.

• Receiving benefits distributed from the DAO Treasury.

3. Proposal Submission Process

The process for submitting, discussing, voting on, and executing proposals within the Symmio DAO will follow a clear lifecycle to ensure community participation and transparent decision-making. The stages of this lifecycle are outlined as follows:

3.1 Forum Discussion

• Moderation: No minimum token threshold is required to initiate a discussion. However, community moderators reserve the right to moderate and remove spam proposals during this stage.

3.2 Temperature Check

Once a proposal garners sufficient community discussion and support, it may move to an off-chain Temperature Check via a snapshot vote. The purpose of this phase is to gauge whether the proposal has enough backing to proceed. Proposals that pass the Temperature Check with majority support can advance to the next stage.

3.3 Proposal Creation

A community member with sufficient voting weight (holding at least 1,000,000 SYMM) submits the proposal on-chain. This triggers a 2-day delay period before voting officially begins, allowing the community to prepare for the vote.

3.4 Vote Period

The voting period lasts for 10 days. During this time, SYMM token holders may vote for or against the proposal. For a proposal to pass:

• It must meet the required quorum, which is defined as at least 33% of the current circulating SYMM token supply.

• If the proposal fails to meet quorum or receives majority opposition, it will be canceled. Proposers and supporters may revise and resubmit a sufficiently modified proposal in accordance with the guidelines from previous stages.

3.5 Timelock Period

Once a proposal is approved, it will enter a Timelock Period of 2 days. During this time, the proposal is queued for execution, providing a final delay to ensure the community has an opportunity to raise any concerns.

3.6 Execution

After the timelock delay has passed, the approved proposal can be executed. Any community member can interact with the governance contracts to execute the proposal on-chain.

Deviations in the Proposal Lifecycle

Council Vetos

During the on-chain voting phase, the Security Council has the authority to veto any proposal if it is deemed harmful or dangerous. This measure provides an additional layer of protection against malicious proposals.

While the Security Council has the authority to veto any proposal during the on-chain voting phase if it is deemed harmful or dangerous, this authority does not extend to proposals aimed at abolishing or modifying the Security Council itself.

Late Quorum Prevention

The voting period may be extended if quorum is reached late. If a proposal achieves quorum less than 2 days before the deadline, the voting period will be automatically extended by an additional 2 days to prevent governance attacks that attempt to meet quorum at the last minute.

Off-chain Proposals

Certain proposals, such as elections or other administrative matters, may not involve any on-chain actions. These proposals will be voted on off-chain via a Snapshot vote. Regular off-chain proposals will have a 5-day voting period, while elections will have a 7-day voting period.

4. Voting Mechanism

• SYMM token holders will vote on proposals.

• A simple majority (50% +1) of participating votes will be required for a proposal to pass, provided that a quorum of at least 33% of the current circulating SYMM token supply.

• Votes can be cast through the designated governance interface on Symmio’s on-chain platform.

5. DAO Treasury Management

• The Symmio DAO Treasury will hold SYMM tokens and other cryptocurrencies, which may be allocated by DAO Resolutions.

• The DAO will have the authority to manage and disburse funds for the purposes of grants, bounties, research, and business development in support of the Symmio project.

• Treasury disbursements will be made in accordance with Article 2, Section 3 of the Constitution, ensuring transparency and accountability through periodic reporting.

6. Board of Directors

• The Symmio Foundation will appoint an initial Board of Directors as outlined in the Constitution.

• Directors will implement DAO Resolutions in compliance with the legal framework of the Cayman Islands and the DAO’s operational governance.

• Future Directors can be elected, and current Directors removed, through a DAO Resolution.

7. Amendments to the Constitution

• Any proposed amendments to the Symmio DAO Constitution must be submitted as a SIP and require a two-thirds majority vote of all participating beneficiaries.

8. Security Council

The Security Council is hereby established as a committee of 8 members who will serve as signers of a multi-signature wallet, responsible for executing both Emergency Actions and Non-Emergency Actions as delegated by the Symmio DAO. The Security Council will uphold the integrity of the Symmio DAO Constitution and will ensure the continued secure and stable operation of the DAO and associated blockchain networks. The powers and existence of the Security Council can be modified or eliminated through a Symmio Improvement Proposal (SIP) approved by the Symmio DAO.

Equivalent multi-signature contracts will be deployed across relevant chains governed by the Symmio DAO.

8.1. Emergency Actions

• The Security Council is authorized to take immediate action in response to any security emergency that could significantly compromise the integrity, confidentiality, or availability of the Symmio blockchain or any system governed by the Symmio DAO.

• These actions (“Emergency Actions”) may include software upgrades, transaction rollbacks, or other necessary interventions to mitigate the emergency.

• Emergency Actions will require a 6-of-8 approval from the Security Council members.

• Emergency Actions should only be employed in true security emergencies, such as critical vulnerabilities or exploits.

• Following the resolution of an emergency, the Security Council must release a full transparency report explaining the emergency and the actions taken to mitigate it, once it is deemed safe to do so.

The Symmio DAO retains the authority to modify or eliminate the Security Council’s power to perform Emergency Actions through a valid DAO Resolution (SIP).

8.2. Non-Emergency Actions

• The Security Council is also authorized to implement routine software upgrades, conduct system maintenance, and make other non-urgent adjustments (“Non-Emergency Actions”).

• Non-Emergency Actions will also require 6-of-8 approval from the Security Council.

• Approved Non-Emergency Actions will bypass the early stages of the proposal process and will proceed directly to the final stages (Phases 4 to 7) of the proposal review process, incorporating a delay before deployment to ensure sufficient time for review.

• The Security Council may impose additional delays before deploying a Non-Emergency Action as deemed necessary.

The Symmio DAO reserves the right to alter or revoke the Security Council’s authority over Non-Emergency Actions via an approved SIP.

Founding Cohort

• Lafa - Founder of Symmio

• Levy - Founder of IntentX

• Huf - Founder of Pear Protocol

• Matt - Magnus Capital

• Mazzett - Backed Protocol

• Ross - Muon Network

• Hedzed - CTO of Symmio

• Jack - BD + Ops at Symmio

9. Establishment Costs

The initial costs associated with the formation of the Symmio Foundation and Symmio DAO include legal fees, administrative expenses, and registration charges required to ensure the organization’s proper setup and regulatory compliance. These expenses will be reimbursed to the service providers facilitating the establishment of the DAO and Foundation. The total amount of these expenses is estimated at $250,000 (referred to as the “Total Establishment Costs”).

10. Liquidity Incentives Allocation Plan

To foster liquidity and promote the growth of the Symmio ecosystem, 132 million $SYMM tokens have been allocated for liquidity incentives. These tokens will be used to encourage market participation, reward liquidity providers (LPs), and support other strategic initiatives as governed by the Symmio DAO.

10.1. Allocation Overview

The total liquidity incentives allocation is as follows:

• • A 25% annual inflation rate, amounting to 16,500,000 $SYMM per year, to incentivize LPs to provide liquidity.

• 84 million $SYMM: Proposed for LP incentives for 2023 through 2026. Specific strategies for these years will require additional DAO votes.

• 15 million $SYMM: Allocated for community airdrops to increase adoption and reward early participants.

10.2. Governance and Execution

• Ongoing Incentives: Subsequent liquidity incentives will follow similar principles, with proposals detailing exact distributions and mechanisms submitted for DAO approval.

10.3. Airdrops and Strategic Use

• Airdrops: The 15 million $SYMM allocated for airdrops will be distributed to early adopters and key stakeholders based on criteria defined by the Symmio DAO, such as holding certain assets or engaging in specific ecosystem activities.

• Strategic Initiatives: The remaining tokens, including the 79 million $SYMM for 2023-2026, will be available for market-making incentives, previously agreed-upon deals, and other growth-focused initiatives, with community oversight.

10.4. Reporting and Adjustments

• Regular reports on the performance of liquidity programs, token utilization, and remaining allocations will be published for community review.

• Adjustments to the incentive structure, if necessary, must be proposed and approved via the DAO governance process.

Justification

Establishing the Symmio DAO is essential for the decentralized governance and operational autonomy of the Symmio ecosystem. The DAO will provide a structured approach for managing the project’s development, fostering community participation, and ensuring the sustainable growth of the ecosystem through transparent governance.

Implementation

Upon approval of this SIP, the following steps will be undertaken:

1. Deployment of the Symmio governance contract.

2. Initiation of the SYMM token staking mechanism for voting rights.

3. Activation of the DAO Treasury and the proposal submission interface.

4. Appointment of the initial Board of Directors, with elections to follow in accordance with the Constitution.

Timeline

• Week 1-2: Deploy governance contracts and activate staking.

• Week 2-3: Initiate DAO voting and proposal submission mechanisms.

• Week 4: Appoint the initial Board of Directors and open the treasury for approved proposals.

Below is a description of the method and amount of tokens from the Season's rewards that will be shared with the participants. To ensure that rewards are given for continuous engagement and support of the project, a vesting period has been implemented for these tokens. This will require users to trade on our protocol to release the locked rewards.

Airdrop Distribution:

The airdrop allocation is divided among three main categories of users:

• OG traders: Those who traded on earlier versions of the platform (pre-season one, including initial alpha versions and Cloverfield).

• Season 1 traders: Users active during Season 1.

• Season 2 traders: Users active during Season 2.

A total of 15% of the remaining ecosystem incentives is dedicated to these airdrops, split as roughly 10 million tokens for OGs and Season 1, and 5 million for Season 2 participants.

Airdrop recipients will receive 30% of their tokens at TGE. However:

• Airdropped tokens are NOT eligible for the early unlock penalty mechanism.

• The remaining 70% of tokens will be released via vesting, but only if the recipient continues to trade. This clause will ensure that the airdrop rewards actual long-term platform engagement. The unclaimed amount from users who do not remain active will be redistributed to active users during vesting.

Season 2 is all about the SYMM ecosystem

Starting on November 4, 2024, Season 2 will award 60,000 points daily to drive growth and engagement across the Symmio ecosystem. This season will run for four months or until the open interest (OI) reaches $150,000,000, whichever occurs first. Additionally, the season will continue even if the TGE takes place before it concludes.

The motto of Season 2 is ecosystem growth, the SYMM ecosystem has been flourishing as outlined in the post of Rockman https://x.com/0xRockman/status/1847568490095353918

We want to reward everyone who has been a supporter of SYMM from day one, while boosting ecosystem activity through a targeted approach that rewards various forms of participation:

1. uPnL based Trading Competitions: Different than in Season 1 which rewarded users purely based on their volume, In Season 2, points for trading will primarily be awarded based on users' positive profit and loss (uPnL), with IntentX Trading Olympics serving as an example. In addition to the 5,000,000 $SYMM that is already up for grabs during IntentX’s Trading Olympics, users will be able to earn Symmio points simultaneously for successful trading This approach rewards not just volume but the quality and success of trades, aligning incentives with trading behaviour, aiming to attract the best of the best traders to try Symmio.

2. Ecosystem Token Holding: Users will be rewarded for holding tokens within the Symmio ecosystem (e.g. INTX, PEAR, BASED, CORE/LODE & other future coins launched around the Symmio ecosystem, if you have launched a token focused on SYMM please engage with us so we can be sure you will be added to the list) encouraging long-term commitment and loyalty among holders.

3. Volume-Based Points: While volume-based points will still be awarded, they will be given at a smaller scale to keep the focus on meaningful engagement rather than simply generating trading volume.

4. Just engage with Symmio: As we did in Season 1, we’ll continue to keep the requirements for earning points intentionally vague. Rather than focusing on specific targets, simply be an active community member, engage with the Symmio ecosystem, and share its vision with others. Genuine involvement and contribution won’t go unnoticed, meaningful engagement and content creation will be rewarded.

Season 2 will continue to prioritise genuine, value-driven activity, enhancing the ecosystem while fostering a community of engaged, active users.

As decided with the SIP-1 vote TGE will happen immediately, announced via Twitter for the 16th of December 2024.

At TGE 30% of tokens will be distributed to everyone who has a Symmio Balance that can be verified here:

link to acquisition

Token distribution

(132,080,088 $SYMM) - 15% are reserved for Liquidity/Market Making incentives.

(748,000,000 $SYMM) - 85% of the total supply are distributed to Community (62.9%), Investors (11.3%) and Team(10.8%).

Initial Distribution details:

• Total Supply: 880M $SYMM

• Day 1 Airdrop: 210,232,916.13 tokens to eligible users.

• Day 1 POL: 27,499,678.02 SYMM

• Community Vesting: 483,543,470.98 SYMM tokens vested over 9 months, with an optional early unlock mechanism subject to penalties.

Read more about Vesting & Early Unlock

Intro

Context and Background:

• The community vote on SIP-1 was extremely close, particularly between Option 4 and Option 5.

• Option 4 favored an immediate TGE with full unlock (100% of tokens available from day one).

• Option 5 also favored an immediate TGE but introduced a vesting schedule and an early unlock feature, allowing participants to claim tokens early by paying a penalty that would be redistributed to compliant holders, liquidity providers, and ecosystem incentives.

Final TGE Structure:

Immediate TGE, Partial Unlock, and Vesting:

• Unlike Option 4’s full immediate unlock or Option 5’s limited immediate unlock, the chosen hybrid solution provides 30% of each holder’s tokens immediately at TGE (Day 1).

• The remaining 70% will be subject to a vesting schedule of roughly 9–12 months, but with key modifications to reduce waiting times:

• If it takes, for example, 3 months to finalize and deploy the vesting contracts (including audits and technical preparations), those 3 months will be subtracted from the total vesting period. Thus, a 9-month vesting could effectively become 6 months.

• The vesting release timeline will be decided by a logarithmic function. Practically, this means if a holder claims their vesting late, their remaining vesting duration will be shorter. For example:

• If someone starts vesting immediately at TGE, they may have the full remaining 9 (or adjusted) months.

• If another person only comes in at Month 8, their remaining vesting time could be significantly shorter than the original full vesting period, ensuring they don’t face an unnecessary full wait upon late participation.

Early Unlock and Penalty Mechanics:

• Immediately or shortly after TGE, a special claim contract will be deployed allowing users to early-unlock their vested tokens before the end of the vesting period.

• Early unlocks come with a penalty of 50% on the yet-vested portion. For example:

  • A user holds 1 million tokens in total. They will receive 300,000 tokens at TGE (30%). With the remaining 700,000 tokens vested over the chosen period. If they decide to unlock their tokens early, they pay a 50% penalty, getting only 350,000 tokens instantly. The 350,000 penalty are redistributed to other compliant holders, liquidity providers, and ecosystem incentives.

  • An additional option will allow early unlock into liquidity pools (LP) without penalty. By providing USDC to match their tokens, users can contribute to an 80/20 Balancer pool. Pre-earned protocol fees will be seeded as Protocol-Owned Liquidity (POL) to deepen liquidity from day one. Over time, these protocol fees can be reclaimed by users who early unlock into LP, creating a strong incentive to bolster liquidity early on.

Airdrop Distribution:

• The airdrop allocation is divided among three main categories of users:

• OG traders: Those who traded on earlier versions of the platform (pre-season one, including initial alpha versions and Cloverfield).

• Season 1 traders: Users active during Season 1.

• Season 2 traders: Users active during Season 2.

• A total of 15% of the remaining ecosystem incentives is dedicated to these airdrops, split as roughly 10 million tokens for OGs and Season 1, and 5 million for Season 2 participants.

• Airdrop recipients will receive 30% of their tokens at TGE. However:

• Airdropped tokens are NOT eligible for the early unlock penalty mechanism. Those tokens must vest over time.

• The remaining 70% of airdropped tokens will be released during the vesting period only if the recipient must perform a trade using our platform during season 2. This clause will ensure that the airdrop rewards actual long-term platform engagement rather than passive holding. The unclaimed amount from users who do not remain active will be redistributed to active users in Season 2.

Key Takeaways:

• The TGE date will see an immediate 30% token release to all participants.

• A vesting schedule is in place for the remaining 70%, but the total time may be shortened by the contract development period.

• Early unlock is possible at a 50% penalty, which is redistributed, incentivizing patience and contributing to the health of the ecosystem.

• Early unlock into LPs offers a no-penalty alternative, encouraging liquidity formation and leveraging protocol-owned liquidity.

• Airdrops to OGs, Season 1, and Season 2 users follow a similar vesting and initial release pattern, with ongoing engagement required to claim the full allotment.

This approach is designed to strike a balance between immediate liquidity and long-term ecosystem health, rewarding participants who remain engaged while still honoring the community’s narrowly decided vote.

Looking Ahead to 2025 and Beyond

As Symmio enters 2025, the roadmap’s complexity becomes a real challenge, as multiple frontends—like IntentX, Pear, Vibe, Horizon, Lode, and IVX on Berachain—are either already integrated or slated to integrate. With each new frontend and every new solver, a new development stream opens up, with a new team with its own development timeline and feature set, all collectively building on top of Symmio and adding new value streams. As new solvers & frontends emerge, each bringing a new array of specialized markets (like memecoin derivatives) or distribution channels, creating a linear roadmap becomes difficult.

Simply put, Symmio’s roadmap isn’t a simple linear timeline—it’s a multidimensional ecosystem evolving on multiple fronts. Rather than one monolithic plan, we have numerous partners working in parallel: solvers, frontends, and the core Symmio team itself. Each of these contributors is building and extending Symmio’s capabilities, products, and user experiences in ways that can’t be captured by a single, forward-only progression.

To address this complexity, we’ve introduced the R.I.D.E. framework as a way to categorize and communicate our roadmap items. Each letter corresponds to a distinct stream of work, helping everyone understand where a specific initiative fits in this growing ecosystem:

• R - Research Work led by the core Symmio team to develop new solvers, improve protocol features, and explore cutting-edge functionalities. This includes prototyping next-generation versions of Symmio or testing novel solver technologies, and continued experimentation with advanced solver architectures and next-gen Symmio features. Expect new, more efficient clearing methods and possibly entirely new categories of financial instruments.

• I - Improving: Efforts focused on enhancing existing solvers, expanding their product offerings, and refining the user experience for known markets. For example, if an existing solver is integrating Bybit pairs into Symmio, this would fall under Category I. Existing solvers will expand product offerings, as well as adding more markets, or improving risk management tools that reduce Maintenance Margin requirements. For instance, Zenith will introduce additional Bybit markets, while another solver is working on providing DEX pairings.

• D - Distribution: Initiatives aimed at broadening access and usability through current frontends. Enhancing UI/UX, scaling to more users, and improving market reach all fall under D, ensuring that what we’ve built is effectively delivered to the trading community. Current frontends will enhance user interfaces, add educational resources, and improve on-boarding flows. The goal is to empower both new and experienced traders to access Symmio’s features more easily, increasing overall ecosystem liquidity and usage.

• E - Expansion: Projects centered on integrating new frontends into Symmio. As new partners and platforms join, they bring their own users, instruments, and market niches. The E category highlights these expansions that push Symmio’s boundaries into new realms, As more frontends come online, Symmio’s reach extends into untapped user bases and regional markets. Each new frontend integration introduces fresh functionality, user segments, and trading opportunities.

By classifying activities under R, I, D, or E, we can offer a clearer picture of how Symmio is evolving from multiple angles simultaneously. For the Long-term roadmap please refer to Symmio's Endgame

R – Research

The “R” in the R.I.D.E. framework stands for Research, capturing the ongoing, forward-looking development work led by the Symmio team. Our core mission under this category is to continuously refine, upgrade, and innovate the Symmio protocol and create new example Solvers.

Core-Team 2025 Focus: Symmio's Endgame & Meta-Solvers

Right now, the Symmio team’s primary focus is on realizing the “endgame” vision outlined in the Symmio’s Endgame section. This involves developing the very first meta-solver, a pioneering concept that will orchestrate a network of solvers in a more intelligent, efficient, and autonomous manner. This meta-solver aims to elevate Symmio’s capabilities, enabling a more scalable and resilient ecosystem for derivatives creation and trading.

Smaller-Team 2025 Focus: Improving & Maintaining v0.84

While the majority of our resources are dedicated to the core "Meta-Solver" objective, we’ve maintained a small, streamlined team to assist current frontends and solvers with improving minor details and user experience within Symmio v0.84, a streamlined roadmap for planned improvements for each Quarter will be released seperately.

Parallel Research: pSymm

In parallel, another dedicated research team is working on pSymm (private / offchain Symm), an initiative with its own unique objectives and architecture. While we’re not ready to share full details yet, a formal reveal of pSymm’s vision and purpose will be coming soon.

Currently being prepared.

Currently being prepared.

Currently being prepared.

Symmios' vision to create the first universal clearing layer for future settled contracts is unwavering; the ultimate goal is to create a protocol where any derivatives contract can be produced synthetically & traded with CEX like UX, yet decentralized & trustless from anyone in the world, with anyone in the world and the essential part, without any contagion risk.

As it currently stands, the only solution that crypto has found to contain the risk of derivatives contracts is insurance funds, but not all risks in a system are always clear for everyone, and sometimes they are not even clear to anyone. Symmio's endgame will be to change that.

What does this mean in practice? It means that any asset, no matter how niche, can have a derivatives market spun up with minimal friction. For example, consider launching a new meme-coin on pump.fun and immediately creating a perpetual contract. Traders could speculate with leverage, all while keeping contagion risks neatly sealed within that specific instance, managed by a pre-selected party.

Think back to the 2008 financial crisis, when risks presumed to be contained in one corner of the market quickly spread everywhere, triggering a global disaster. Or imagine a 100x leveraged perpetual contract on an illiquid meme-coin with just $10,000 in liquidity. Who would dare take the other side of such a trade? Without proper constraints, risks can accumulate silently and catastrophically, emerging explosively when conditions worsen.

Symmio's vision is straightforward: Either we establish a global framework to contain and manage leverage and their associated risk transparently, or we'll end up facing it unprepared, again and again.

That was the lesson of 2008; it was the lesson of FTX.

By providing a clear, accessible structure to create derivatives & leverage, Symmio aims to prevent history from repeating itself.

Read more about Symmios Endgame: Blockchains are clearing layers

Blockchains can be seen abstractly as instantly settled clearing layers.

It is instructive to consider a conceptual framework in which the activity of trading functions as a form of lending or swapping, and more generally, as a system that must facilitate the clearing of various financial positions.

In such a context, Ethereum and other blockchains can be regarded as clearing layers. The same observation extends to Solana and, with some interpretation, even to Bitcoin. Each blockchain, at its core, can be understood as a mechanism that maintains balances and periodically clears obligations between participants. The distinguishing factor between a dedicated clearing layer and a blockchain like Bitcoin is that on Bitcoin’s base layer (L1), the settlement of every transaction occurs immediately and in a fully transparent manner.

The introduction of protocols on top of Bitcoin or other blockchains, including the concept of state channels, illustrates how not all clearing frameworks must be blockchains themselves. State channels, which were proposed early in the development of blockchain technology, represent a way to move the actual clearing of balances off the main chain and into a deferred "in the future" setting.

By design, these second-layer systems handle a series of transactions privately, updating off-chain balances over time, and eventually settling the net outcome back on the blockchain at a later date. Such approaches were considered even in the early years of Bitcoin. Satoshi Nakamoto’s initial concepts and subsequent community-driven research revealed a recognized necessity for scalable, layered solutions.

Scalability forms the fundamental impetus behind the creation of secondary clearing layers. A global population of billions cannot directly interact with a base-layer blockchain like Bitcoin or Ethereum under current technological and economic constraints. These networks process only a limited number of transactions per block. Even with optimizations, the volume remains too small to handle global-scale transactional loads. This shortfall becomes particularly evident when acknowledging that billions of individuals cannot all write their transactions onto Bitcoin’s chain at ten-minute intervals with only 5000 transactions available in a block, paying for being one of the first to be settled means the system would become prohibitively expensive, congested, or both.

Efforts to increase throughput at the base layer have included adjustments to consensus algorithms, attempts at centralization, and the strategic co-location of nodes to reduce network latency. However, these approaches, while potentially increasing throughput marginally, do not address the core structural limits. Instead, a design philosophy has emerged in which a strong and stable layer-one blockchain serves as a settlement anchor, while higher layers, side-chains, state channels, and rollups handle the bulk of transactional ordering activity. The Ethereum roadmap exemplifies this approach, placing significant emphasis on creating robust L1 security and correctness, complemented by a wide ecosystem of layer-two (L2) solutions that aggregate and compress large volumes of off-chain transactions.

Blockchains have become the standard of instantly settled clearing. Symmio's vision is to become the standard for future settled clearing.

How can a global clearing layer for future settlement be scalable enough? Intents vs Orderbooks

Symmio a modular transaction ordering system

Within this wider landscape, Symmio is introduced as a clearing layer, operating under similar principles as a Blockchain, but commited on Future Settlement instead of Instant Settlement. Symmio focuses on enabling distributed derivatives and related financial instruments by creating a protocol how future settled contracts should be created.

The guiding intuition is that blockchains are inherently about ordering transactions and storing data in an immutable ledger, while Order-Books or RFQs are about ordering trade requests. Both are systems responsible for ordering messages. By examining traditional financial markets, two principal methods of price discovery emerge: order books and request-for-quote (RFQ) systems. In the cryptocurrency domain, RFQs have evolved further into what are known as “intents,” which can be considered pre-resolved RFQs.

The existence of order books and intents so far has been viewed as two contrasting paradigms. Traditional order books rely on a central monolithic order-matching engine that receives and matches bids and asks. In contrast, intents and RFQs often employ a more modular structure, where price discovery and transaction matching occurs peer2peer & through more modular processes without a single leader.

The complexity of global-scale markets suggests that relying on a single monolithic approach (where every participant competes on a shared global order book at the base layer) is likely to encounter scalability and fairness issues.

From a physical standpoint, the fundamental speed-of-light limit imposes a critical constraint on decentralized systems. Information cannot travel instantaneously across the globe, and no known technology or physical principle allows surpassing the speed of light. This limit affects how quickly nodes, validators, or market participants can learn about events and react to them. Information asymmetry in its core underpins many of the fairness and maximal extractable value (MEV) challenges observed in blockchain-based trading.

Location-based information asymmetry arises because participants with closer access to the information outbreak are faster to propagate a response, this becomes especially problematic when "decentralized" systems are starting to use co-location to increase their throughput.

With many projects in the space trying to explore co-located networks, we have to realize that co-location is just TradFi 2.0, in a distributed system with co-location the MarketMaker co-locating his systems to the node or mechanism responsible for ordering transactions can leverage private or early information to their advantage. This problem has historical precedence in traditional finance, where certain HFT market participants co-locate their servers near exchange data centers to gain a time advantage over competitors. In Co-Located systems that attempt to handle all ordering globally at the base layer, far greater issues will arise: participants with the lowest latency connections can exploit profitable opportunities before others. The phenomenon is not new and has been studied extensively in modern markets, yet co-location in cryptocurrency networks reintroduce it in new forms due to transparency and the pseudo-global accessibility of their ledgers. Therefore monolithic transaction ordering, where a single global order-book finalizes transaction order in one place and time, encounters inherent limits.

On the contrary, if a decentralized system aims to remain geographically distributed, the fair distribution of nodes ensures that no single observer can act upon all events simultaneously, but reduces throughput and latency drastically, as information cannot be agreed on faster than it takes the information to travel across the globe. As a result, attempts to achieve fully global and low-latency ordering often result in unfairness or the necessity to centralize infrastructure to a significant degree. Such centralization would undercut the fundamental ethos and resilience that decentralized systems are intended to provide.

Symmio proposes a modular approach to transaction ordering, which in contrast, depends not on overcoming the speed-of-light limit globally, but on improving computational and cryptographic efficiencies locally, to prove the transaction has been done based on locally available datasets. Verification of cryptographic proofs and signatures can be optimized with better hardware, parallelization, and algorithmic improvements. Over the past decade, verification speeds have improved dramatically, and they continue to do so.

In principle, computational verification can always be enhanced by employing larger datasets, more advanced mathematics, and more efficient computer architectures. By contrast, the speed of light and the basic laws of physics are immutable.

This line of reasoning suggests a system architecture in which local order matching nodes, from now on termed “meta-solvers,” operate in various geographic regions. Each meta-solver may run a centralized order book locally, handling orders from participants within its latency sphere. Because these order books are centralized and physically localized, they can scale throughput to very high levels, possibly multiple millions of transactions per second, as computing hardware and algorithmic techniques evolve. However, decentralization and fairness are not sought at the micro-level of each order book’s internal operation but emerge instead from the existence of many such meta-solvers operated OrderBooks.

Global arbitrageurs link these local liquidity pools, ensuring that prices remain aligned. This arrangement recalls historical methods of dealing with physical limits and information asymmetries: local price differences have always been resolved by arbitrageurs who profit from bridging those gaps, thereby enforcing global price consistency.

Symmio’s roadmap aligns with these concepts. Initially, Symmio v0.8x relied on a small number of solvers using external liquidity sources such as Binance, Bybit, or potentially other trading platforms.

Over time, the long-term vision involves a network of independent meta-solvers, each capable of integrating user-submitted orders. These meta-solvers, through their own centralized order books, offer a range of trading opportunities. Participants select which meta-solvers to engage with, and a form of competition and price discovery emerges at the meta-level, rather than purely at a single, centralized global ledger.

Embracing the constraints of physics encourages designing a system that is not only sustainable but also future-proof. After tens of thousands of years, the speed of light will remain constant, whereas verification speeds and computational capacities may have improved by orders of magnitude. Thus, systems constructed to rely solely on overcoming physical latency constraints will inevitably meet fundamental barriers. By accepting these barriers and designing architectures that operate effectively within them, it becomes possible to create more enduring and scalable solutions.

In practical terms, this strategy implies that Symmio’s ultimate form involves local order-matching nodes performing billions of transactions at high speed. The verification and settlement of these transactions, however, might occur on a robust layer-one blockchain or a specialized Symmio-specific layer-two or standalone chain. A dedicated chain, if introduced, could provide fine-grained control over costs and resource allocation, thereby making it more feasible to achieve the overarching vision of global accessibility and fairness. Reducing settlement costs to near zero becomes crucial for maintaining seamless global arbitrage and widespread participation.

To understand the significance of this approach, it is helpful to contrast it with systems that claim to “solve MEV” or “eliminate latency issues” by centralizing infrastructure in one physical location. Such systems might improve latency within a confined geographic region, but their fairness and decentralization diminish as global reach expands. Historical experience in traditional finance—where large market makers and high-frequency traders co-locate their servers in close proximity to centralized exchanges—demonstrates that this approach leads to inherent advantages for those with the greatest resources. Ultimately, such systems replicate existing models rather than providing a transformative alternative.

By contrast, a network of independent, locally optimized order books encourages a more heterogeneous landscape. No single point of geographic advantage dominates the entire network because no single entity controls all transaction ordering. Instead, each meta-solver competes for order flow and liquidity, and global arbitrage steps in to maintain consistent pricing. This decentralized model, driven by market forces and technological capability, more closely resembles a system that acknowledges the fundamental rules of physics and economics, rather than attempting to circumvent them.

Symmio’s position as a clearing engine within this ecosystem requires careful consideration of the underlying rules and standards that govern how orders are settled globally. The engines deployed by Symmio ultimately integrate with settlement layers, likely robust L1 blockchains that provide cryptographic security, consensus, and finality. Over time, the possibility arises that Symmio might deploy its clearing engines on specialized infrastructures, whether as a rollup on Ethereum, a separate chain in the Ethereum ecosystem, or another solution entirely. Strategic decisions about settlement layers will hinge on cost structures, community ecosystems, security models, and regulatory frameworks.

A crucial element in achieving the envisioned global architecture involves addressing the cost constraints. Each incremental increase in settlement costs reduces the feasibility of broad global participation, as fewer participants can justify the expense of engaging with arbitrage or cross-regional trading. By reducing fees and complexity, a system that embraces local ordering and global settlement can scale more effectively. Striking an optimal balance between cost, security, and performance will likely shape the evolutionary path of Symmio and its meta-solvers.

Another element that features prominently in the Symmio roadmap is the recognition that these concepts are not entirely new. Historical precedents show that local information asymmetries, time delays, and limited throughput have long-challenged financial systems. Traditional finance developed an array of institutions, interbank networks, and arbitrage mechanisms over centuries, each designed to handle the physical and informational constraints of the period. Blockchain-based finance, despite its new technological paradigm, faces similar underlying issues. By studying solutions from the past, insights can be gained into how to structure decentralized infrastructures that acknowledge and incorporate timeless physical constraints.

Whereas some blockchain projects promise latency reductions or MEV solutions primarily by adding complexity or centralizing certain functions, the Symmio approach stresses architectural openness. Anyone possessing sufficient resources and expertise should be able to launch a meta-solver node in a chosen geographic location. Participants can then select the best solver according to personal criteria such as latency, liquidity depth, fee structure, or trust assumptions. The existence of multiple such nodes ensures a dynamic equilibrium, where no single operator holds monopoly power. Global arbitrage—an intrinsic market mechanism—enforces consistency and deters persistent price distortions.

In practical scenarios, consider a world where multiple meta-solvers operate high-performance order books in diverse locations: North America, Europe, Asia, Africa, and so forth. Each regionally placed meta-solver receives orders from local users, market makers, and algorithmic traders. The co-location of participants who require the highest speeds becomes rational in certain regions, but no single location benefits disproportionately forever, since at the global scale, participants can switch to alternative meta-solvers or engage in arbitrage. This approach not only embraces the speed-of-light limit but also disperses the benefits and costs of proximity more evenly.

Over long timescales, the reliability of such a system could surpass that of monolithic global order books. Technological progress will likely enable even faster verification mechanisms and more efficient compression of aggregated trades for final settlement. Meanwhile, stable and robust layer-ones, or specialized clearing chains, will ensure that the final global ledger remains tamper-proof and secure. The foundational consensus mechanisms of blockchains, designed to function under adversarial conditions, provide the bedrock upon which these more sophisticated multi-layer architectures rest.

It is important to note that this strategy does not claim to eliminate MEV or eradicate every form of informational advantage. Instead, it contextualizes these phenomena within a structure that uses free market principles as a counterbalance. MEV becomes just another type of arbitrage opportunity. Rather than focusing solely on removing such opportunities, the architecture acknowledges their inevitability and distributes the associated benefits and costs more evenly across a wider set of participants. In some configurations, local order books may produce new forms of local MEV, but the existence of global competition and arbitrage mitigates the worst effects.

This perspective highlights that absolute fairness and perfect decentralization may remain unattainable ideals, just as they have been throughout financial history. Instead, the goal shifts toward a stable, scalable, and sustainable equilibrium that is technologically and economically feasible. By aligning with fundamental physical constants—such as the speed of light—and technological progress in verification and computation, the resulting system aims to be more durable and evolvable than purely idealistic approaches.

The conceptual journey undertaken by Symmio’s design echoes that of Ethereum and Bitcoin, both of which acknowledge that global consensus at high throughput is challenging. Ethereum’s emphasis on rollups and distributed nodes for L2 solutions, and Bitcoin’s fundamental scaling challenges addressed partially by off-chain mechanisms, reflect an industry-wide realization. Symmio’s roadmap can be viewed as another dimension of this scaling narrative, specifically targeting the derivatives and advanced trading segments of the industry.

When considering the complexity of implementing these concepts, it becomes clear that substantial engineering and infrastructural efforts are required. Integrations with existing order book implementations, such as those from centralized exchanges or newer decentralized protocols, will demand collaboration and open-mindedness. Historical experience suggests that many new ideas face initial resistance, even from highly knowledgeable individuals. Over time, as the reasoning behind distributed and modular architectures becomes clearer, more ecosystem participants may come to appreciate the inherent logic of adopting a system aligned with immutable physical laws.

Ultimately, the creation of meta-solvers and local order books connected to a global settlement layer is not merely a technical adjustment. It represents a philosophical stance toward building financial systems that can stand the test of time and space. The acknowledgment that in 10,000 years the speed of light will remain constant, while verification technologies might be orders of magnitude more advanced, suggests designing for a distant future. Embracing constraints rather than attempting to overcome or ignore them is a well-established principle in systems design, engineering, and economics.

In conclusion, the Symmio passthrough concept and the associated long-term roadmap present a vision of financial infrastructure that leverages fundamental principles from physics, economics, and cryptography. Rather than centralizing transaction ordering or attempting to force global uniformity, this approach distributes the process, encourages local optimization, and relies on market mechanisms to ensure global coherence. High-performance, centralized local order books—operated by meta-solvers—coexist with a decentralized clearing and settlement framework. Global arbitrage takes on the role of ensuring that no single geographic region or entity can dominate price discovery. These local nodes become part of a vast, interlinked network that balances speed, fairness, cost, and security over unprecedented temporal and spatial scales.

By grounding the design in immutable physical limits and leveraging the continuous improvements in cryptographic verification, Symmio positions itself as more than just another layer or product. Instead, it represents a prototype for a future in which financial systems are designed to endure, adapt, and scale gracefully. The result is a clearing infrastructure that remains robust under real-world conditions, acknowledging that perfect global synchronization at infinite speed is impossible, but that intelligent architectural choices can create a more workable, equitable, and enduring global financial system.

Below is a simple, ELI5-style explainer that addresses the key points (When, How, What, Where, Why, Who, How Much) and ends with a list of questions one may have about this.

When? Date: December 16, 2024. As decided per the SIP-1 and officially announced via Twitter, the 16th of December is the day tokens become available.

We chose Base because of the continued growth and traction of the ecosystem. With several Symmio partners already active on Base, it’s the ideal platform to drive SYMM’s growth. Transferring tokens on Base will cost you less in “gas fees” (small network charges) to claim and use your tokens. Later on, if the community votes for it, the tokens can be moved to other networks as well.

Why? We’ve been earning fees from people using the Symmio platform. On TGE day, we’ll take all those earned fees (about $1.6 million worth!) and add them to a special trading pool with the new tokens. This helps ensure enough tokens and money are in the system so people can trade easily without big price jumps.

How Does It Work?

1. Getting Your Tokens: Everyone entitled to Symmio tokens will receive 30% of their total right away on December 16. The remaining 70% will be given out (vested) slowly over 9 months. If it takes us longer than expected to set up everything (maximum a couple of months), we will shorten that 9-month wait by the delay time so you don’t lose any time overall.

2. Early Claim Option (with a Penalty): If you don’t want to wait for all your tokens to slowly unlock, you can claim everything early. But there's a catch: you’ll pay a 50% penalty on what’s still locked. Think of it like getting all your candies now but losing half of them as a “rush fee.” The penalty fees we collect will be given back to patient holders or to people who provide liquidity later.

3. Liquidity and Trading: We’ll create a trading pool on a service called Aerodrome Finance with an equal amount of SYMM and ETH. This pool lets people buy and sell SYMM tokens easily.

4. Future Fees & Rewards: New fees earned after TGE will go to a special staking area (where you lock up your tokens to earn rewards). We’ll also have a low, steady yearly increase (2%) in the total number of tokens for rewards given to people who help the system by providing liquidity.

Who is Involved?

• Symmio Holders: Anyone who owns Symmio tokens at TGE time will get their share. There’s a list (snapshot) on GitHub showing who gets what.

• Community & DAO: The community decided how we’re doing all this through a vote. The team is just putting the community’s plan into action.

How Much?

• Token Distribution: 30% right away, 70% over 9 months.

• Liquidity Added: About $1.6 million worth of tokens and fees.

• Penalty Fee: If you claim early, you lose 50% of your locked portion.

• Inflation for Rewards: 2% per year for liquidity providers.

Some questions you may want to ask?

• When will I get my tokens? (30% on December 16, 2024, the rest over 9 months)

• How do I claim them? (On the Base chain via our claiming contract; early claim option available)

• Where do I trade them? (On Aerodrome Finance using the SYMM/ETH pair)

• Why is the TGE happening this way? (Community vote and to ensure a fair, well-funded launch)

• Who is eligible to receive tokens? (All Symmio holders listed in the snapshot)

• How much do I get and what are the penalties if I claim early? (30% now + 70% over time, or pay a 50% penalty on the locked portion if you want all now)

Terms of Service

Symmio TERMS OF SERVICE Last Revised on: 11/19/2024

These Symmio Terms of Service, together with any documents expressly incorporated by reference (the “Terms” or the “Agreement”), are entered into by and between you or the company or any other legal entity you represent (the “User,” “Guest,” “Customer,” you or your, as the context may require). Symmio Foundation., duly incorporated and registered in the Cayman Islands (the “Company,” “Symmio ,” “Symmio Protocol,” “Symmio Platform,” “SYMM Token,” we, or us, or our, as the context may require) and constitutes a binding legal agreement between you and the Company. You and the Company are each a “Party” and, together, the “Parties” to these Terms. The Symmio Foundation, duly incorporated and registered in the Cayman Islands with the Company Number, CP-407195 and the Registered address at Suite #5-204, 23 Lime Tree Bay Avenue, P.O. Box 477, Grand Cayman, Cayman Islands, KY1 1108 - Cayman Islands

These Terms govern your access to and use of symm.io, including any content, functionality (the “Website”), Symmio Platform that is accessible through the Website (the “Platform”), as well as any products and services offered on or through the Website, or the Platform (the “Services”), whether as a guest or a registered user. By accessing or using the Website, the Platform, or the Services, you are accepting these Terms (on behalf of yourself or the entity that you represent).

Please read the Terms carefully before using the Website, the Platform, or any of the Services. If you do not agree with all of the provisions of these Terms or any of these Terms is unacceptable for you, you must not access or use the Website, the Platform, or any of the Services.

If you have any questions or comments regarding these Terms, please get in touch with us at info@symm.io.

To be eligible to use or access the Website and/or the Platform, including any Services offered on or through the Website and/or the Platform, you must be of legal age to form a binding contract (at least 18 years old in most jurisdictions; or the applicable age of majority and contractual capacity in your country of residence). By accessing or using the Website and/or the Platform, including any Services offered on or through the Website and/or the Platform, you represent and warrant that you are of legal age to form a binding contract. If you are using or accessing the Website and/or the Platform, including any Services offered on or through the Website and/or the Platform, on behalf of a legal entity, you represent and warrant that such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and such a legal entity duly authorizes you to act on its behalf.

Any person or entity, including anyone acting on its behalf, being based, domiciled, located, or incorporated in or is a citizen or resident or green card holder in any territory under the jurisdiction of the United States of America, including any state of the United States of America or the District of Columbia (the “USA”), or Canada, Republic of Korea, Singapore, the People’s Republic of China, Bosnia, Albania, Belarus, Burma. Côte D'Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Congo-Brazzaville, Congo-Kinshasa, Iran, Iraq, Liberia, North Korea, Sudan, Syria, Tajikistan, Russia, Zimbabwe, or any other country or territory included in the OFAC or any other US, UN, EU or other applicable sanctions list (together “Restricted Areas,” and each individually “Restricted Area”), as well as an individual employed by or associated with an entity, identified on BIS’s denied persons, unverified, or entity lists, or OFAC’s list of specially designated nationals, foreign sanctions evaders, or list of consolidated sanctions, or DDTC’s debarred parties list, may not access and use the Website, the Platform, and the Services, and must leave the Website immediately (“Ineligible Persons”, and each such person or entity individually, “Ineligible Person”). The Company shall not be responsible for fraudulent, deceptive, or otherwise malicious use of any tools whatsoever by any Ineligible Person to use or access the Website, the Platform, and the Services, under the semblance of provenance from any other jurisdiction outside the Restricted Areas.

GENERAL

1.1 We reserve the right to revise and update these Terms from time to time at our sole discretion. All changes are effective immediately when we post them on the Website (with the “Last Revised” date on the top). You agree and acknowledge that the Company will not explicitly notify you about the possible amendments and modifications. Your continued use of the Website, the Platform, or the Services following the posting of revised Terms means that you accept and agree to the changes. You are expected to check this page each time you access this Website, the Platform, or the Services so you are aware of any changes, as they are binding on you.

1.2 Any other mandatory policies of the Company that you can access on the Website or other agreements entered into separately between you and the Company are considered an integral part of these Terms and have the same legal effect. Your use of the Website, the Platform, and the Services is conditional on accepting all supplementary terms published on the Website.

TERMS

2.1 The following capitalized terms for the purpose of these Terms shall have the meanings hereinafter assigned to them unless the context clearly otherwise requires.

“Company,” “we,” “us,” or “our”: shall have the meaning as set out in the Preamble of these Terms.

“End User(s)”: shall mean an individual or entity which uses Service Based Works.

“Ineligible Person(s)”: shall have the meaning as set out in the Preamble of these Terms.

“Intellectual Property”: shall mean all of our intellectual property, including inventions, discoveries, processes, methods, compositions, formulae, techniques, information, source code, brand names, graphics, User interface design, text, logos, images, information, and data about the Services, whether or not patentable, copyrightable or protectable in trademark, and any trademarks, copyrights or patents based thereon.

“Platform”: shall mean the Symmio platform located at symm.io with any future modifications that the Company is developing.

“Privacy Policy”: shall mean Symmio Privacy Policy, accessible at the Website and incorporated herein by reference, for additional information regarding our privacy terms.

“Project Documentation”: shall mean Symmio Whitepaper or Litepaper as changed from time to time, available at docs.symm.io and other documents available at the Website.

“Services”: shall mean the products and services offered by the Company on the Website and the Platform, along with any future modifications, as set out in Clause 5.

“Restricted Area(s)”: shall have the meaning as set out in the Preamble of these Terms.“Terms”: shall mean these Symmio Terms of Services, including the schedules and any other documents incorporated herein by reference.

“User”, “Customer”, “you”, “yourself” or “your”: shall mean any person, whether natural or legal, accessing and using the Website, or directly/indirectly making use of the Platform, the Services.

“Website” shall mean the Company website located at symm.io.

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ACCESS TO THE WEBSITE, PLATFORM AND SERVICES. ACCOUNT SECURITY

3.1 We reserve the right to withdraw or amend this Website, the Platform, and any of the Services, in our sole discretion without notice. We will not be liable if for any reason all or any part of the Website, the Platform, and any of the Services, is unavailable at any time or for any period. From time to time, we may restrict access to some parts of the Website, Platform or Services, or the entire Website, Platform, or Services, to users, including registered users.

3.2 To access the Website, the Platform, and any of the Services, or some of the resources they offer, you may be asked to provide certain registration details or other information. It is a condition of your use of the Website, the Platform, and any of the Services, that all the information you provide is accurate, correct, current, and complete. You agree that all information you provide is governed by our Privacy Policy, and you consent to all actions we take with respect to your information consistent with our Privacy Policy.

3.3 Any other mandatory policies of the Company that you can access on the Website, or other agreements entered into separately between you and the Company are considered an integral part of these Terms and have the same legal effect. Your use of the Website, the Platform, and the Services is conditional on the acceptance of all supplementary terms as published on the Website.

3.4 Your security. You are responsible for implementing reasonable measures for securing your account, user name, password, or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any other person or entity. You also acknowledge that your Website and Platform accounts are personal to you and agree not to provide any other person with access to this Website and the Platform, or portions of it, using your username, password, or other security information. You are not allowed to use another customer’s account. You agree to notify us immediately of any unauthorized access to, or use of, your username or password or any other breach of security. You also agree to ensure that you exit your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information. The Company cannot and will not be liable for any loss or damage arising from your failure to comply with this Clause 3.4 or to secure your Website and Platform accounts and passwords, including, but not limited, to selecting a password that is not easily compromised.

3.5 Your information. We may use aggregate statistical information about your activity, including your activity on the Platform, Website, and logins to various websites, for marketing or any other purpose at our sole discretion. However, we will not release your personally-identifying information to any third party without your consent, except as not prohibited by law or as set forth in these Terms or any other mandatory policies of the Company, that you can access on the Website.

ACKNOWLEDGEMENT AND ASSUMPTION OF RISKS

4.1 You acknowledge and agree that there are risks associated with accessing and using the Website, the Platform, as well as with receiving Services as disclosed and explained in the Risk Disclosures set forth in Schedule 1 hereto. If you have any questions regarding these risks, please contact us at info@symm.io.

4.2 You also acknowledge that you have been warned of the following risks, associated with the Website, the Platform, the Services, and other relevant technologies mentioned herein and agree to absolve and hold the Company harmless from any and all liability for any damages occurring in relation to any of the risks below.

4.3 BY ACCEPTING THESE TERMS, ACCESSING AND USING THE WEBSITE, THE PLATFORM, AND THE SERVICES, YOU EXPRESSLY AND FINALLY ACKNOWLEDGE, ACCEPT AND ASSUME ALL OF THE RISKS SET FORTH IN SCHEDULE 1 HERETO. ALL RISK OF LOSS TRANSFERS TO YOU UPON ACCESS AND/OR USE OF THE WEBSITE, THE PLATFORM, AND THE SERVICES.

THE SERVICES

5.1 We reserve the right to modify or discontinue any portion of the Services and to suspend or terminate Your access to the services we provide on our Website and/or the Platform at any time, without explicit notice to you, in certain, limited circumstances described herein.

5.2 You agree that we shall not be liable to you or any third party for any modification or termination of the Services, or suspension or termination of your access to the Services, except to the extent otherwise expressly set forth herein.

5.3 We grant you a license to use our Services. Contingent upon your ongoing compliance with these Terms, we grant you a personal, worldwide, revocable, non-exclusive, and non-assignable license to use the software provided to you as part of our Services. The only purpose of this license is to allow you to use and enjoy the Services solely as permitted by these Terms.

5.4 We own all rights in the Services. We own any and all rights, titles, and interests in and to the Services including, without limitation, any and all copyrights in and to any content, code, data, or other materials that you may access or use on or through the Website, the Platform and the Services. Except as expressly set forth herein, your use of or access to the Website, the Platform and the Services does not grant you any ownership or other rights therein.

5.5 We may use and share your feedback. Any comments, bug reports, ideas, or other feedback that you may provide about our Website, Platform, and Services, including suggestions about how we might improve our Website, Platform, and Services, are entirely voluntary. You agree that we are free to use or not use any feedback that we receive from you as we see fit, including copying and sharing such feedback with third parties, without any obligation to you.

5.6 Service Materials and Service-Based Works. Services consist of an integrated development environment and related assets and tools we make available here (collectively, “Service Materials”). You may incorporate into your programs or applications, and distribute as incorporated in such programs or applications, the Service Materials that we distribute within our Services. You acknowledge and agree that Services and Service Materials are not intended for in or in association with, the operation of any illegal, unauthorized, or improper activity, scam, fraud, or any other activity that led to money laundering, terrorist financing, etc. You further represent and warrant not to use Services in this direction. You are solely responsible for liability that may arise in connection with any such use. In addition to the rights granted to you under these Terms, the Company also grants you a limited, revocable, non-exclusive, non-sublicensable (except to End Users as provided below), non-transferrable license to do the following during the legal, authorized, and proper usage of these Terms:- use, reproduce, modify and create derivatives of the Service Materials to develop and support your programs or applications (the “Service Based Works”);- use, reproduce, modify, create derivative works of, publicly display, publicly perform, and distribute the Service Based Works to End Users;- sublicense the rights to your End Users solely for the purpose of enabling your End Users to use the Service Based Works. You and your End Users are responsible for all decisions made, advice given, actions taken, and failures to take action based on your use of Services, Service Materials, and Service Based Works, any of your programs or applications, built, distributed or incorporated on the base of our Services and/or Service Materials. You are solely responsible for providing your End Users with all necessary legally adequate information concerning your Service Based Works and obtaining any necessary data from such End Users to undergo KYC/AML/CFT procedures, and any necessary consents for the processing, storage, use and transfer any and all of the End User's information to comply with any and all applicable laws and regulations. You represent to us that you have provided all necessary information and obtained all necessary data and consents. You are responsible for notifying us in the event that any of the Service-Based Works must be stopped, frozen, and/or deleted under applicable law. You will not, and will not allow any third party to, use the Services, Service Materials, and/or Service Based Works to, directly or indirectly, develop or improve a similar or competing product or service.

FEES AND TAXES

6.1 Any service or other fees or any other prices of the Services offered on the Website or/and on the Platform shall be stated at all times on our Website or/and on the Platform and available to you before you make your purchase. If not expressly stated otherwise, all fees and prices are exclusive of VAT and any other taxes applicable.

6.2 Taxes. Users bear sole responsibility for paying any and all taxes, duties, and assessments now or hereafter claimed or imposed by any governmental authority associated with their use of the Website, the Platform, and the Services, and/or payable as the result of using and/or exploiting any crypto assets and interacting with smart contracts. Blockchain-based transactions are novel, and their tax treatment is uncertain.

6.3 Prices listed are, unless stated otherwise, exclusive of transaction costs charged by the blockchain network in the network’s native currency to compensate for the computing energy required to successfully process and validate transactions on blockchain (“Gas Fees”). Payment of Gas Fees is entirely separate and independent from payments made to us for our Services.

GENERAL USE, PROHIBITED USE, AND TERMINATION

7.1 Limited License. We hereby grant you a personal, non-exclusive, non-transferable, non-sublicensable, and limited license, subject to these Terms, to access and use the Website, the Platform, and the Services solely for informational, transactional, or other approved purposes as permitted by the Company from time to time. Any other use of the Website, the Platform, and the Services is expressly prohibited. You agree that this Agreement does not grant you any rights in or licenses to the Website, the Platform, and the Services, except for this express, limited license. You will not otherwise copy, transmit, distribute, sell, resell, license, decompile, reverse engineer, disassemble, modify, publish, create derivative works from, perform, display, incorporate into another website, or in any other way exploit any of the content available on the Website and the Platform, or any other part of the Website and the Platform or any derivative works thereof, in whole or in part for commercial or non-commercial purposes. Without limiting the foregoing, you will not frame or display the Website and the Platform (or any portion thereof) as part of any other website or any other work of authorship without prior written permission. If you violate any portion of this Agreement, your permission to access and use the Website and the Platform may be terminated pursuant to this Agreement. In addition, we reserve the right to all remedies available by law and for any such violation.

7.2 Website Accuracy. Although we intend to provide accurate and timely information on the Website and the Platform, the Website and the Platform may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors.

7.3 Prohibited Use. In connection with your use of the Platform and the Services, and your interactions with other users, and third parties, hereby you agree and represent that: you will not violate any law, contract, intellectual property or other third-party rights and will not engage in any illegal, unauthorized, or improper activity.you will not violate any applicable federal, state, local or international law or regulation, contract, Intellectual Property or other third-party rights and will not engage in any illegal, unauthorized, or improper activity;without limiting the foregoing, you will not: (i) use any electronic communication feature of the Website, the Platform or the Services for any purpose that is unlawful, tortious, abusive, intrusive on another's privacy, harassing, libelous, defamatory, embarrassing, obscene, threatening or hateful; (ii) upload, post, reproduce or distribute any information, software or other material protected by copyright or any other Intellectual Property right (as well as rights of publicity and privacy) without first obtaining the permission of the owner of such rights; (iii) use the Website, the Platform or the Services for any commercial purpose not expressly pre-approved by the Company in writing; (iv) use the Website, the Platform or the Services in connection with surveys, contests, pyramid schemes, chain letters, junk email, spamming, or any duplicative or unsolicited messages (commercial or otherwise), defame, abuse, harass, stalk, threaten or otherwise violate the legal rights (such as rights of privacy and publicity) of others, publish, post, distribute or disseminate any inappropriate, profane, defamatory, obscene, indecent or unlawful topic, name, material or information;to engage in any other conduct that restricts or inhibits anyone’s use or enjoyment of the Website, the Platform or the Services, or which, as determined by us, may harm the Company or users of the Website, the Platform or the Services, or expose them to liability.Additionally, you agree not to:engage in behavior that will put your personal information at unnecessary risk, such as leaving, transmitting, or publishing your login or passwords;upload, or otherwise make available, files that contain images, photographs, software, or other material subject to Intellectual Property rights, including, by way of example and not as a limitation, copyright or trademarks (or by rights of privacy or publicity) unless you own or control the rights thereto or have received all necessary consent to do the same, use any material or information, including images or photographs, which are made available through the Services in any manner that infringes any copyright, trademark, patent, trade secret, or other proprietary rights of any party;use the Website, the Platform or the Services in any manner that could disable, overburden, damage, or impair the Website or interfere with any other party’s use of the Website or the Platform, including their ability to engage in real time activities through the Website or the Platform;use any robot, spider or other automatic devices, process or means to access the Website or the Platform for any purpose, including monitoring or copying any of the material on the Website or the Platform;use any manual process to monitor or copy any of the material on the Website or on the Platform or for any other unauthorized purpose without our prior written consent;use any device, software or routine that interferes with the proper working of the Website, the Platform or the Services;introduce any viruses, trojan horses, worms, time or logic bombs, cancelbots, corrupted files or any other similar software or programs that may damage the operation of another’s computer or damage the property of another, advertise or offer to sell or buy any goods or services for any business purpose, falsify or delete any copyright management information such as author attributions, watermarks, legal or other proper notices or proprietary designations or labels of the origin or source of software or other material contained in a file that is uploaded, violate any code of conduct or other guidelines that may be applicable, harvest or otherwise collect information about others, including email addresses, violate any applicable laws or regulations, or create a false identity for the purpose of misleading others;attempt to gain unauthorized access to, interfere with, damage or disrupt any parts of the Website, the Platform or the Services, the server on which the Website or the Platform is stored, or any server, computer or database connected to the Website, the Platform or the Services;otherwise attempt to interfere with the proper working of the Website, the Platform or the Services;use the Website or the Platform to advertise or offer to sell goods and services;sell or otherwise transfer your account/profile.You acknowledge and agree that any violation of these Terms, including providing false or misleading information, can lead to termination of your use or participation in the Website, the Platform, or the Services, deletion of your account and any content or information that you posted at any time, without warning, in our sole discretion.

RELIANCE ON INFORMATION POSTED

8.1 The information presented on or through the Website, the Platform, or the Services is made available solely for general information purposes. We do not warrant the accuracy, completeness, or usefulness of this information. Any reliance you place on such information is strictly at your own risk. We disclaim all liability and responsibility arising from any reliance placed on such materials by you or any other visitor to the Website, or by anyone who may be informed of any of its contents.

8.2 Corrections. There may be information on the Website or the Platform that contains typographical errors, inaccuracies, or omissions, including descriptions, pricing, availability, and various other information. We reserve the right to correct any errors, inaccuracies, or omissions and to change or update the information on the Website or the Platform at any time, without prior notice.

8.3 This Website, the Platform, or the Services may include content provided by third parties, including materials provided by other users, bloggers, and third-party licensors, syndicators, aggregators, and/or reporting services. All statements and/or opinions expressed in these materials, and all articles and responses to questions and other content, other than the content provided by the Company, are solely the opinions and the responsibility of the person or entity providing those materials. These materials do not necessarily reflect the opinion of the Company. We are not responsible, or liable to you or any third party, for the content or accuracy of any materials provided by any third parties.

8.4 Advertisers. We allow advertisers to display their advertisements and other information in certain areas of the Website or the Platform, such as sidebar advertisements or banner advertisements. If you are an advertiser, you shall take full responsibility for any advertisements you place on the Website or the Platform and any services provided on the Website or the Platform or products sold through those advertisements. Further, as an advertiser, you warrant and represent that you possess all rights and authority to place advertisements on the Website or the Platform, including, but not limited to, intellectual property rights, publicity rights, and contractual rights. We simply provide the space to place such advertisements, and we have no other relationship with advertisers.

8.5 Links from the Website and the Platform. If the Website or the Platform contains links to other sites and resources provided by third parties, these links are provided for your convenience only. This includes links contained in advertisements, including banner advertisements and sponsored links. We have no control over the contents of those sites or resources and accept no responsibility for them or for any loss or damage that may arise from your use of them. If you decide to access any of the third-party websites linked to this Website or the Platform, you do so entirely at your own risk and subject to the terms and conditions of use for such websites.

RETENTION OF INTELLECTUAL PROPERTY RIGHTS

9.1 These Terms shall not be understood and interpreted in a way that they would mean the assignment of Intellectual Property rights unless it is explicitly defined so in these Terms. You may not use any of the Intellectual Property for any reason, except with our express, prior, written consent.

9.2 The Website, the Platform and any of the Services, including their design elements or concepts and any and all underlying Intellectual Property, including, but not limited to copyrights, patents, service marks, any registered trademarks, domain names and other proprietary rights, are the property of the Company, and are protected by copyright, patent, trade secret and other intellectual property laws. Unless otherwise expressly stated, the Company retains any and all rights, title and interest in and to the Website, the Platform and the Services (including, without limitation, all Intellectual Property rights), including all copies, modifications, extensions and derivative works thereof. Your right to use the Website, the Platform and the Services is limited to the rights expressly granted in these Terms. No licenses to use any of trademarks or any other Company’s brands are to be inferred or assumed pursuant to the use of any of the Services. All rights not expressly granted to you are reserved and retained by the Company.

• LIMITATIONS OF LIABILITY

10.1 TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL COMPANY OR ANY OF THE COMPANY PARTIES OR ANY OF THE ASSOCIATED PARTIES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY LOSSES OR DAMAGES OF ANY KIND (INCLUDING, BUT NOT LIMITED TO, WHERE RELATED TO LOSS OF REVENUE, INCOME OR PROFITS, DIMINUTION OF VALUE, LOSS OF USE OR DATA, LOSS OR DEPLETION OF GOODWILL, LOSS OF BUSINESS OPPORTUNITY, LOSS OF CONTRACT, DAMAGES FOR BUSINESS INTERRUPTION, LOSS OF ANTICIPATED SAVINGS, OR THE LIKE) ARISING OUT OF OR IN CONNECTION WITH ANY ACCEPTANCE OF OR RELIANCE ON THIS AGREEMENT, OR WITH THE USE OF THE WEBSITE, THE PLATFORM AND/OR THE SERVICES OR OTHERWISE RELATED TO THESE TERMS, REGARDLESS OF THE FORM OF ACTION, WHETHER BASED IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR ANY OTHER LEGAL OR EQUITABLE THEORY (EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE).

10.2 IN ADDITION TO THE FOREGOING, NO Symmio Foundation. INDEMNIFIED PARTY SHALL BE LIABLE FOR ANY DAMAGES CAUSED IN WHOLE OR IN PART BY: (A) USER ERROR, SUCH AS FORGOTTEN PASSWORDS OR INCORRECTLY CONSTRUCTED SMART CONTRACTS OR OTHER TRANSACTIONS; (B) SERVER FAILURE OR DATA LOSS; (C) THE MALFUNCTION, UNEXPECTED FUNCTION OR UNINTENDED FUNCTION OF THE BLOCKCHAIN, ANY COMPUTER OR CRYPTO ASSET NETWORK (INCLUDING ANY WALLET PROVIDER), INCLUDING WITHOUT LIMITATION LOSSES ASSOCIATED WITH NETWORK FORKS, REPLAY ATTACKS, DOUBLE-SPEND ATTACKS, SYBIL ATTACKS, 51% ATTACKS, GOVERNANCE DISPUTES, MINING DIFFICULTY, CHANGES IN CRYPTOGRAPHY OR CONSENSUS RULES, HACKING, OR CYBERSECURITY BREACHES; (D) ANY CHANGE IN VALUE OF ANY CRYPTO ASSET; (E) ANY CHANGE IN LAW, REGULATION, OR POLICY; (VI) EVENTS OF FORCE MAJEURE; OR (F) ANY THIRD PARTY.

10.3 TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL COMPANY OR ANY OF THE COMPANY PARTIES OR ANY OF THE ASSOCIATED PARTIES SHALL BE LIABLE FOR ANY CRYPTOGRAPHIC TOKENS, TOKENIZED ASSETS OR ANY TRADITIONAL ASSETS (LIKE STOCKS OR COMMODITIES) BEING USED ON THE WEBSITE, THE PLATFORM OR THE SERVICES IN A MANNER THAT (I) VIOLATES, EXPLOITS, OR HARMS, OR ATTEMPTS TO VIOLATE, EXPLOIT, OR HARM, THE LEGAL RIGHTS (INCLUDING THE RIGHTS OF PUBLICITY AND PRIVACY) OF ANY PERSON OR THIRD PARTY; (II) PROMOTES ANY ILLEGAL ACTIVITY, OR ADVOCATES, PROMOTES OR ASSISTS ANY UNLAWFUL ACT; (III) CAUSES ANNOYANCE, INCONVENIENCE OR NEEDLESS ANXIETY OR BE LIKELY TO UPSET, EMBARRASS, ALARM OR ANNOY ANY PERSON OR THIRD PARTY; (IV) STALKS, HARASSES, INTIMIDATES, OR HARMS ANY PERSON OR THIRD PARTY; (V) TRACKS ANY PERSON OR THIRD PARTY WITHOUT THEIR EXPLICIT CONSENT; (VI) COULD GIVE RISE TO ANY CIVIL OR CRIMINAL LIABILITY UNDER ANY APPLICABLE LOCAL, STATE, NATIONAL OR INTERNATIONAL LAWS, STATUTES, ORDINANCES, RULES, REGULATIONS OR ETHICAL CODES GOVERNING YOUR JURISDICTION, INCLUDING CONFIDENTIALITY, DATA PROTECTION, AND INTELLECTUAL PROPERTY LAWS; OR (VII) ENGAGES IN ANY ILLEGAL, UNAUTHORIZED OR IMPROPER ACTIVITIES.

10.4 TO THE FULLEST EXTENT AS PERMITTED BY LAW, ACCESS TO, AND USE OF, THE SERVICES, PRODUCTS OR THIRD-PARTY SITES AND PRODUCTS ARE AT YOUR OWN DISCRETION AND RISK, AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE OR LOSS OF DATA RESULTING THEREFROM. IN NO EVENT WILL THE Symmio Foundation INDEMNIFIED PARTIES’ CUMULATIVE LIABILITY TO YOU OR ANY OTHER USER, FROM ALL CAUSES OF ACTION AND ALL THEORIES OF LIABILITY EXCEED.

10.5 UNDER NO CIRCUMSTANCES SHALL ANY Symmio Foundation INDEMNIFIED PARTY BE REQUIRED TO DELIVER TO YOU ANY VIRTUAL CURRENCY AS DAMAGES, MAKE SPECIFIC PERFORMANCE, OR ANY OTHER REMEDY. IF YOU WOULD BASE YOUR CALCULATIONS OF DAMAGES IN ANY WAY ON THE VALUE OF VIRTUAL CURRENCY, YOU AND WE AGREE THAT THE CALCULATION SHALL BE BASED ON THE LOWEST VALUE OF THE VIRTUAL CURRENCY DURING THE PERIOD BETWEEN THE ACCRUAL OF THE CLAIM AND THE AWARD OF DAMAGES.

10.6 THE LIMITATIONS SET FORTH IN THIS CLAUSE 10 WILL NOT LIMIT OR EXCLUDE LIABILITY FOR THE GROSS NEGLIGENCE, FRAUD OR INTENTIONAL, WILLFUL OR RECKLESS MISCONDUCT OF THE COMPANY.

10.7 Some jurisdictions do not allow the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the limitations of this Clause 10 may not apply to you.

INDEMNIFICATIONS

11.1 You agree to indemnify, defend, and hold harmless the Company, its present and future Affiliates and Service Providers, and each of their present and future officers, directors, agents, joint venturers, employees, representatives, partners, and licensors (collectively “Indemnified Parties”, and each such person or entity individually, “Indemnified Party”) from any claim or demand, including reasonable attorneys’ fees, made by any third party due to or arising out of: (a) your breach or alleged breach of the Agreement (including, without limitation, these Terms); (b) anything you contribute to the Services; (c) your misuse of the Website, the Platform and the Services, or any smart contract and/or script related thereto; (d) your violation of any laws, rules, regulations, codes, statutes, ordinances, or orders of any governmental or quasi-governmental authorities; (e) your violation of the rights of any third party, including any intellectual property right, publicity, confidentiality, property, or privacy right; (f) your use of a third-party product, service, and/or website; or (g) any misrepresentation made by you. We reserve the right to assume, at your expense, the exclusive defense and control of any matter subject to indemnification by you. You agree to cooperate with our defense of any claim. You will not in any event settle any claim without our prior written consent.

NO WARRANTIES OF THE COMPANY

12.1 We make no representations or warranties. THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE AND OUR INDEMNIFIED PARTIES MAKE NO GUARANTEES OF ANY KIND IN CONNECTION WITH THE SERVICES. TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, THE COMPANY AND THE INDEMNIFIED PARTIES DISCLAIM ALL WARRANTIES AND CONDITIONS, WHETHER EXPRESS OR IMPLIED, OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT AND DISCLAIM ALL RESPONSIBILITY AND LIABILITY FOR: (A) THE WEBSITE, THE PLATFORM AND THE SERVICES BEING ACCURATE, COMPLETE, CURRENT, RELIABLE, UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE. INFORMATION (INCLUDING, WITHOUT LIMITATION, THE VALUE OR OUTCOME OF ANY TRANSACTION) AVAILABLE THROUGH THE SERVICE IS PROVIDED FOR GENERAL INFORMATION ONLY AND SHOULD NOT BE RELIED UPON OR USED AS THE SOLE BASIS FOR MAKING DECISIONS. ANY RELIANCE ON THE SERVICES IS AT YOUR OWN RISK; (B) INJURY OR DAMAGE RESULTING FROM THE SERVICES. FOR EXAMPLE, YOU EXPRESSLY ACKNOWLEDGE, UNDERSTAND, AND AGREE THAT THE SERVICES MAY CONTAIN AUDIO-VISUAL EFFECTS, STROBE LIGHTS OR OTHER MATERIALS THAT MAY AFFECT YOUR PHYSICAL SENSES AND/OR PHYSICAL CONDITION. FURTHER, YOU EXPRESSLY ACKNOWLEDGE THAT WE AND OUR INDEMNIFIED PARTIES ARE NOT RESPONSIBLE FOR LOSS OR DAMAGE CAUSED BY ANOTHER USER’S CONDUCT, UNAUTHORIZED ACTORS, OR ANY UNAUTHORIZED ACCESS TO OR USE OF THE SERVICES; (C) VIRUSES, WORMS, TROJAN HORSES, TIME BOMBS, CANCEL BOTS, SPIDERS, MALWARE OR OTHER TYPE OF MALICIOUS CODE THAT MAY BE USED IN ANY WAY TO AFFECT THE FUNCTIONALITY OR OPERATION OF THE SERVICES.

12.2 THE COMPANY AND THE INDEMNIFIED PARTIES ALSO SPECIFICALLY DISCLAIM ANY REPRESENTATION, WARRANTY OR UNDERTAKING IN ANY FORM WHATSOEVER TO ANY ENTITY OR PERSON, INCLUDING ANY REPRESENTATION, WARRANTY OR UNDERTAKING IN RELATION TO THE TRUTH, ACCURACY AND COMPLETENESS OF ANY OF THE INFORMATION SET OUT IN THIS AGREEMENT AND THE PROJECT DOCUMENTATION. WE ARE NOT RESPONSIBLE FOR THE CRYPTOCURRENCY MARKET, AND WE MAKE NO REPRESENTATIONS OR WARRANTIES CONCERNING THE REAL OR PERCEIVED VALUE OF CRYPTOGRAPHIC TOKENS AS DENOMINATED IN ANY QUOTED CURRENCY. YOU UNDERSTAND AND AGREE THAT THE VALUE OF ANY CRYPTOGRAPHIC TOKEN CAN BE VOLATILE, AND WE ARE NOT IN ANY WAY RESPONSIBLE OR LIABLE FOR ANY LOSSES YOU MAY INCUR BY HOLDING OR TRADING CRYPTOGRAPHIC TOKENS, EVEN IF OUR SERVICES ARE DELAYED, SUSPENDED, OR INTERRUPTED FOR ANY REASON. FURTHER, THE COMPANY AND ITS INDEMNIFIED PARTIES MAKE NO REPRESENTATIONS OR WARRANTIES AS TO THE QUALITY, SUITABILITY, TRUTH, USEFULNESS, ACCURACY, OR COMPLETENESS OF THE SERVICES OR ANY MATERIALS CONTAINED THEREIN. FOR CONSUMERS ONLY: WHERE APPLICABLE CONSUMER PROTECTION LAW LIMITS THE EFFECTIVENESS OF ANY PROVISION OF THESE TERMS WITH RESPECT TO CONSUMERS, SUCH PROVISION SHALL CONTINUE TO APPLY TO THE MAXIMUM EXTENT AS PERMITTED BY LAW.

12.3 No financial advice. WE DO NOT PROVIDE INVESTMENT ADVICE IN ANY MANNER WHATSOEVER. ANY INFORMATION MADE AVAILABLE ON THE WEBSITE AND THE PLATFORM SHOULD IN NO EVENT BE CONSTRUED AS PROVIDING, ANY INVESTMENT OR OTHER FINANCIAL ADVICE OF ANY KIND. YOU SHOULD ALWAYS SEEK FINANCIAL AND/OR INVESTMENT ADVICE AND DO YOUR OWN INDEPENDENT RESEARCH BEFORE USING OUR WEBSITE, OUR PLATFORM OR OUR SERVICES. IF YOU CHOOSE TO ENGAGE IN TRANSACTIONS BASED ON CONTENT ON THE WEBSITE, THEN SUCH DECISIONS AND INVESTMENTS AND ANY CONSEQUENCES FLOWING THEREFROM ARE YOUR SOLE RESPONSIBILITY.

MISCELLANEOUS

13.1 Force Majeure. We shall be in breach of these Terms nor liable for delay in performing, or failure to perform, any of its obligations under these Terms if such delay or failure results from events, circumstances, or causes beyond its reasonable control. The Parties agree that due to the specific nature of the blockchain / DLT field, the circumstances of force majeure shall in particular include also (but shall not be limited to) interruption in telecommunications or Internet services or network provider services, failure of equipment, and/or software, hacker attacks, market disturbances, increased and uncontrolled volatility of the cryptographic tokens price, other major event or natural catastrophe, change of laws or regulations, adverse regulatory or enforcement action of public authorities, technical failures and the like).

13.2 Entire Agreement. These Terms, including all schedules, and other documents, incorporated herein by reference, represent the entire agreement between you and us regarding the subject matter of these Terms, particularly the use of the Website, the Platform, and the Services. These Terms supersede all prior or contemporaneous representations, understandings, agreements, or communications between you and us, whether written or verbal, regarding the subject matter of these Terms. We will not be bound by, and specifically object to, any term, condition, or other provision which is different from or in addition to the provisions of these Terms (whether or not it would materially alter these Terms) and which is submitted by you in any order, receipt, acceptance, confirmation, correspondence or other documents. We may make changes to these Terms from time to time as reasonably required to comply with applicable law or regulation. If we make changes, we will post the amended Terms on the Website and include the date of the update. The amended Terms will be effective immediately. We may assign our rights and obligations under these Terms. Our failure to exercise or enforce any right or provision of these Terms will not operate as a waiver of such right or provision. We will not be liable for any delay or failure to perform any obligation under these Terms where the delay or failure results from any cause beyond our reasonable control.

13.3 Waiver. Save if expressly otherwise provided in this Agreement, neither the failure nor any delay by us in exercising any right, power, remedy or privilege under these Terms or the documents referred to herein will operate as a waiver of such right, power, or privilege, and no single or partial exercise of any such right, power, or privilege will preclude any other or further exercise of such right, power, or privilege or the exercise of any other right, power, or privilege.

13.4 Governing Law and Jurisdiction. These Terms will be governed by and construed and enforced in accordance with the laws of the Cayman Islands. Any dispute between the Parties arising out of or relating to these Terms will be resolved and filed only in the courts of the Cayman Islands. You hereby irrevocably and unconditionally consent and submit to the exclusive jurisdiction of such courts over any suit, action or proceeding arising out of these Terms.

13.5 Severability. In the event any one or more of the provisions of these Terms is for any reason held to be invalid, illegal or unenforceable, in whole or in part or in any respect, then and in any such event, such provision(s) only will be deemed null and void. It will not affect any other provisions of these Terms, and the remaining provisions of these Terms will remain operative and in full force and effect. They will be interpreted according to the true will of the Parties.

13.6 Disputes and Arbitration. By accessing and using the Website, the Platform and the Services, you agree that any and all disputes or claims arising out of or connected with these Terms, including their validity, breach, termination, and any disputes, shall be resolved as follows:

Pre-Dispute Resolution

• Prior to initiating any formal proceedings, you must first send a written notice of the claim or dispute to info@symm.io

• The Company shall have 30 (thirty) days from the date of confirmed receipt of such notice to attempt to resolve the matter directly.

Mandatory Arbitration

• If the dispute remains unresolved after the 30-day period, any disputes not exempted under applicable law shall be referred to and finally determined by arbitration administered by HKIAC under its rules in force at the time of the Notice of Arbitration.

• The seat of arbitration shall be George Town, Cayman Islands

• The arbitration proceedings shall be conducted in English

• The tribunal shall consist of three arbitrators

Class Action Waiver

• All disputes shall be resolved individually, without resort to any form of class action.

• By agreeing to these Terms, you irrevocably waive any right to participate in class, collective, or representative proceedings.

• You further waive all rights to have damages multiplied or increased

Governing Law

• These Terms and any dispute arising out of them shall be governed by and construed in accordance with the laws of the Cayman Islands, without regard to conflict of law principles.

Costs

• Each party shall bear its costs of arbitration unless otherwise determined by the arbitration tribunal, which shall have sole discretion over cost allocation.

SCHEDULE 1 - RISKS DISCLOSURES

1. Financial risks.

The risk of loss in holding any cryptographic tokens can be substantial. You should therefore carefully consider whether holding any cryptographic tokens is suitable for you in light of your financial condition. When considering whether to hold any cryptographic tokens, you should be aware that the price or value of cryptographic tokens can change rapidly, decrease, and potentially even fall to zero.You also acknowledge and agree that the cost of transacting on such technologies is variable and may increase at any time causing an impact on any activities taking place on the blockchain network. The Company does not invite or make any offer to acquire, purchase, sell, transfer or otherwise deal in any crypto asset. Third parties may provide services involving the acquisition, purchase, sale, transfer, or exchange of crypto-assets; the Company does not provide any such service and does not undertake any liability in connection thereto. You acknowledge and agree with these risks and represent that the Company cannot be held liable for changes and fluctuations in value or increased costs.

• Internet transmission risks

You acknowledge and understand that there are risks associated with using crypto assets, including, but not limited to, the risk of hardware, software, and Internet connections failure or problems, the risk of malicious software introduction, and the risk that third parties may obtain unauthorized access to information stored within your wallet. You accept and acknowledge that the Company will not be responsible for any communication failures, disruptions, errors, distortions, or delays you may experience when using any blockchain network, Website, Platform, and Services, howsoever caused.

• Risk of theft and hacking, unfavorable regulations, market changes

Any cryptographic tokens and any blockchain technology or distributed ledger technology-related projects are new and relatively untested and outside of our exclusive control. Any adverse changes in market forces, the technology and the regulatory environment impacting our performance under these Terms shall absolve us from responsibility in this regard, including but not limited to hacking attacks, possible theft, unfavorable regulatory action, or unclear legal/tax status of cryptographic tokens.You acknowledge and agree that cryptography is a progressing field. Advances in code cracking or technical advances such as the development of quantum computers may present risks to smart contracts, cryptocurrencies, the Platform, and the Services, which could result in the theft or loss of your cryptographic tokens or property, among other potential consequences. By accessing the Website, using the Platform and the Services, you acknowledge and agree to undertake these risks.

• The Services-related risks

You acknowledge the risks of using the Services. You bear sole responsibility for evaluating the Services before using them, and all transactions accessed through the Services are irreversible, final, and without refunds. The Services may be disabled, disrupted or adversely impacted as a result of sophisticated cyber-attacks, surges in activity, computer viruses, and/or other operational or technical challenges, among other things. We disclaim any ongoing obligation to notify you of all of the potential risks of using and accessing our Services. You agree to accept these risks and agree that you will not seek to hold us responsible for any consequent losses.You agree and acknowledge that we do not represent or warrant that any of the Services we provide or the Website and/or the Platform itself are secure from a hacker or other malicious attack, which may result in the stealing or the loss of the User confidential information or any other data.

• We do not guarantee the quality or accessibility of the Services

As a condition to accessing or using the Website, the Platform or the Services, you acknowledge, understand, and agree that from time to time, the Website, the Platform and the Services may be inaccessible or inoperable for any reason, including, but not limited to equipment malfunctions, periodic maintenance procedures or repairs, causes beyond our control or that we could not reasonably foresee, disruptions and temporary or permanent unavailability of underlying blockchain infrastructure or unavailability of third-party service providers or external partners for any reason.You acknowledge and agree that you will access and use the Website, the Platform and the Services, at your own risk. You should not engage in blockchain-based transactions unless it is suitable given your circumstances and financial resources. By using the Services, you represent that you have been, are and will be solely responsible for conducting your own due diligence into the risks of a transaction and the underlying smart contracts and crypto assets.

• The Website, the Platform and the Services, as developed may not meet your expectations

The Website, the Platform and the Services are currently under development and may undergo significant changes before the release of the final version. Your expectations regarding the form and functionality of the Website, the Platform and the Services may not be met upon release of the Website, the Platform, deployment of the Services, additional products and services for any number of reasons, including a change in the design and implementation plans and execution of the implementation of the Platform and the Services. The Company does not offer any guarantee as to the marketability or expected use of Services and/or Platform.

• The Services may never be completed or releasedThe Services may never be released and operational, even though the Company will make reasonable efforts to complete and deploy it.

• Third-party services risks

We are not responsible for the content or services of any third-party, including, without limitation, any network, or apps like Discord, or MetaMask, and we make no representations regarding the content or accuracy of any third-party services or materials. The use and access of any third-party products or services, including through the Services, is at your own risk.

• Legal risks regarding securities regulations

There is a risk that in some jurisdictions the cryptographic tokens might be considered a security, or that it might be considered a security in the future. The Company does not give warranties or guarantees that cryptographic tokens will not be regarded as security in all jurisdictions. Each User shall bear their own legal or financial consequences of cryptographic tokens being considered security in their respective jurisdiction.​The legal ability of the Company to provide access to the Website, the Platform and the Services in some jurisdictions may be hindered or eliminated by future regulation or legal actions.

• Risk of unfavorable regulatory action in one or more jurisdictions

Blockchain technologies have been the subject of scrutiny by various regulatory bodies around the world. The functioning of the blockchain networks and cryptographic tokens and Token may be impacted by one or more regulatory inquiries or actions, including but not limited to restrictions on the use or possession of the cryptographic tokens, which could impede or limit their existence, permissibility of their use and possession, and their value.

• We reserve the right to restrict your access from engaging with the Website, the Platform and the Services

You agree that we have the right to restrict your access to the Website, the Platform and the Services via any technically available methods if we suspect, in our sole discretion, that:(a) you are using the Services for money laundering or any illegal activity;(b) you have engaged in fraudulent activity;(c) you have acquired crypto assets using inappropriate methods, including the use of stolen funds to purchase such assets;(d) you are the target of any sanctions administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the United Nations Security Council, the European Union, Her Majesty’s Treasury, or any other legal or regulatory authority in any applicable jurisdiction;(e) either you, as an individual or an entity, or your wallet address is listed on the Specially Designated Nationals and Blocked Persons List (“SDN List”), Consolidated Sanctions List (“Non-SDN Lists”), or any other sanctions lists administered by OFAC;(f) you are located, organized, or resident in a country or territory that is, or whose government is, the subject of sanctions, including but not limited to the Republic of Korea, Singapore, the People’s Republic of China, Bosnia, Albania, Belarus, Burma, Côte d'Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Congo-Brazzaville, Congo-Kinshasa, Iran, Iraq, Liberia, North Korea, Sudan, Syria, Tajikistan, Russia, Zimbabwe or any other country or territory included in the OFAC or any other US, UN, EU or other applicable sanctions list; or(g) you have otherwise acted in violation of these Terms. If we have a reasonable suspicion that you are utilizing the Website and/or the Platform for illegal purposes, we reserve the right to take whatever action we deem appropriate.

• Unanticipated risks

Cryptocurrencies and blockchains are new and untested technology. In addition to the risks set forth here, there are risks that the Company cannot foresee and it is unreasonable to believe that such risks could have been foreseeable.

If you have any questions or comments regarding these Terms, please contact us at contact@symmio.foundation

The Beauty of Decentralization and Competing Inside the SYMMIO Agreements Engine

Coming out of a discussion centered around a technical understanding of the inner workings of the SYMMIO project, the conversation shifts into an appreciation of the decentralized and competitive nature of this Web3 solution.

SYMMIO fosters a highly competitive and efficient environment where liquidity providers compete against each other to find the most effective ways to hedge their risk.

By doing so, end-users experience lower fees, greater asset offerings, and less price impact. This is the beauty of decentralization - ensuring power is distributed rather than concentrated in the hands of one counterparty.

Furthermore, this is how SYMMIO differentiates itself.

Taking inspiration from the existing financial world, the team explains how the SYMMIO project is not just about competing with other protocols in the Web3 space but is also about going head-to-head with behemoths of traditional finance, such as Binance. Despite its decentralized nature, the project is dedicated to providing a robust infrastructure akin to centralized exchanges but without compromising the principles of trustlessness and decentralization.

The essence of SYMMIO lies in its efficiency and competition, thanks to the multiple liquidity providers who act as intermediaries. These providers ensure market efficiency and create a highly competitive market environment, thus pushing down costs for end-users.

The difference between SYMMIO and other protocols, such as GMX, is clear. GMX, for example, cannot interact with centralized exchanges to hedge risk because of the permissionless nature of the contracts. The SYMMIO system, however, offers a network of intermediaries called "hedgers," who have the freedom to interact with centralized exchanges to manage risk.

To give a practical example, consider this scenario: When a user decides to go long on Bitcoin, the "hedger" takes a counter trade on a centralized exchange to ensure they remain delta neutral, thereby removing their exposure to the asset. This would be impossible in a permissionless system like GMX because the funds cannot be taken from the contract to be placed in a centralized exchange.

How SYMMIO Outperforms Its Competitors

Even in its nascent stage, SYMMIO already provides an attractive package for liquidity providers and traders. Despite starting with almost no liquidity, the protocol boasts lower fees, more asset offerings, deeper liquidity, and less price impact than its peers, like GMX and Gains.

In SYMMIO's architecture, liquidity providers or counterparties can hedge their risk on centralized exchanges, thereby being delta neutral and reducing the overall risk in the system. On the other hand, the end-users experience greater cost efficiency as they enjoy lower fees, a broader range of tradable assets, and minimal price impact.

As the team puts it, the system is trustless due to the decentralization of counterparties. If there were a single counterparty, it could dictate everything, leading to a fully centralized system. The decentralization of SYMMIO fosters competition and efficiency, ultimately benefiting the end user.

TERMS OF ACQUISITION OF SYMM TOKENS

First published on: 16/12/2024 Last revised on: 16/12/2024

IMPORTANT NOTICE: These Terms of Acquisition of SYMM Tokens (“Terms”) govern the voluntary allocation and acquisition of SYMM Tokens (“SYMM Tokens”) by you as a recipient (“You” or the “Receiver”) from Symmio Protocol (“Protocol” or “we”). By accepting SYMM Tokens, You agree to be bound by these Terms. If You do not agree to all provisions herein, do not accept or proceed with any allocation, selling, staking, or related actions. The Symmio Foundation, duly incorporated and registered in the Cayman Islands with the Company Number, CP-407195 and the Registered address at Suite #5-204, 23 Lime Tree Bay Avenue, P.O. Box 477, Grand Cayman, Cayman Islands, KY1 1108 - Cayman Islands

These Terms incorporate by reference any documents expressly referred to herein and shall supersede any conflicting language in any other documents regarding the allocation of SYMM Tokens.

Please read these Terms carefully and, if necessary, consult with legal, tax, financial and any other professional advisors before accepting any SYMM Tokens.

1. INTRODUCTION AND PURPOSE

1.1 Scope. These Terms govern the allocation and receipt of SYMM Tokens by any individuals or entities who, at any previous time, voluntarily burned DEUS as part of a process that was intended to result in the eventual distribution of SYMM Tokens. While participants who burned DEUS did so under an expectation that they would receive SYMM Tokens, the specific quantities, ratios, and timings of allocation were not definitively determined at that time. No specific terms (quantities, ratios, rates or deadlines) were promised, warranted, represented or guaranteed.

1.2 No Pre-Sale; No Proceeds to the Protocol. The allocation of SYMM Tokens does not constitute a pre-sale, initial coin offering (ICO), or any other fundraising mechanism. When DEUS was burned, it was destroyed and did not financially benefit the Protocol. The Protocol did not receive any monetary proceeds, profits, or any other financial or other gain from the DEUS burn event.

1.3 Uncertain Ratios and Values. At the time You burned DEUS, the exact ratio of DEUS burned to SYMM Tokens allocated was not fixed or determined in any way, and the ultimate amount of SYMM Tokens You receive may vary from initial expectations, which you, as a burner of DEUS tokens, fully agreed with and accepted at the time of burning. Similarly, the value of DEUS at the time of burning, the value of SYMM at allocation, and any future market price are subject to uncertainty, which you, as a burner of DEUS token, fully agreed with and accepted at the time of burning. The Protocol makes no representation, warranty, or guarantee regarding the future price, liquidity, functionality, utility or value of SYMM Tokens.

2. DEFINITIONS

For the purposes of these Terms:

• “DEUS”: The DEUS cryptographic token that You previously burned.

• “SYMM Tokens” or “SYMM”: The utility tokens issued by the Protocol to recipients who at any previous time elected to burn DEUS tokens, all in accordance with these Terms.

• “Burn Event”: The event or process wherein participants destroyed their DEUS tokens with the understanding that they would receive SYMM Tokens at a later time, subject to the conditions outlined herein.

• “Receiver” or “You”: The individual or entity who previously burned DEUS and is now eligible to receive SYMM Tokens according to these Terms.

• “Protocol”: The Symmio Protocol and its affiliates, successors, and assigns.

3. NATURE OF ACQUISITION

3.1 Non-Refundable Action. The DEUS You burned cannot be recovered or reversed. The action of burning DEUS was not a transaction that conferred a financial payment or any other financial or other benefit to the Protocol. You acknowledge that by burning DEUS, You did not provide the Protocol with funds or other assets from which the Protocol derived any profit, revenue or any other financial value or gain.

3.2 Expectation of SYMM Allocation. You took the action of burning DEUS with the understanding that You would receive SYMM Tokens, whereas you agreed and fully accepted that the quantity and timing of SYMM allocation were uncertain and subject to discretionary decision on behalf of the SYMM token (future) issuer, taking into account (at time) different future factors such as market and project developments considerations and conditions. Additional factors influencing the ultimate allocation included, but were not limited to, the total amount of DEUS burned by all participants and the Protocol’s ultimate distribution model for SYMM.

3.3 No Guaranteed Ratios or Values. At the time You burned DEUS, you understood that there was no fixed or guaranteed exchange ratio between DEUS and SYMM. Past, present, or future prices or values of DEUS or SYMM have no direct bearing on the quantity of SYMM allocated to You. Your historical purchase price of DEUS is unrelated to the final allocation or value of SYMM Tokens You receive.

3.4 Utility Tokens. SYMM Tokens are intended to function solely as utility tokens within the Protocol’s ecosystem. They do not represent equity, ownership, profit-sharing rights, or any form of financial instrument. Holding SYMM does not grant You any voting rights, rights to dividends, profit distribution rights or any other financial rights or claims against the Protocol’s assets or revenues.

4. ALLOCATION PROCESS AND CONDITIONS

4.1 Allocation Mechanics. The Protocol will allocate SYMM Tokens to Receivers in accordance with a methodology determined at the Protocol’s sole and exclusive discretion. The methodology may consider factors such as total DEUS burned, ecosystem and project development needs, or other parameters. The Protocol may communicate details about the allocation model through official channels prior to or concurrent with distribution.

4.2 Staking and Lockups. Allocated SYMM Tokens may be subject to lockup periods, transfer restrictions, or staking mechanisms designed to foster long-term ecosystem stability. The Protocol may require certain conditions to be met before SYMM Tokens become freely transferable or fully claimable.

4.3 No Obligation to Deliver Specific Timelines. The Protocol will make reasonable efforts to deliver SYMM Tokens to eligible Receivers in a timely manner. However, the Protocol does not guarantee delivery dates and shall not be liable for delays caused by technical challenges, regulatory requirements, or other factors beyond its control.

5. ACKNOWLEDGEMENTS AND REPRESENTATIONS

By accepting these Terms and the SYMM Tokens allocated to You, You represent, warrant, and acknowledge that:

5.1 No Reliance on Fixed Terms. You did not burn DEUS based on any representation, promise, or guarantee regarding a specific ratio, amount, or value of SYMM Tokens You would receive. You acknowledge that any initial or informal indications of quantity or value were subject to change and uncertainty which you fully accepted and agreed with.

5.2 Independent Judgment. You have conducted Your own research and due diligence regarding the Burn Event, DEUS, and SYMM. You have not relied on any oral or written statements, promises, or guarantees by the Protocol or any third parties beyond what is explicitly stated in these Terms or official Protocol documentation.

5.3 Regulatory and Legal Compliance. You understand that the regulatory and legal status of blockchain tokens may vary by jurisdiction. You are responsible for understanding and complying with all applicable laws, regulations, and taxation responsibilities associated with holding or transacting SYMM Tokens.

5.4 Risk Assumption. You acknowledge the inherent risks in receiving, holding, and using blockchain-based tokens, including but not limited to: technological failures, market volatility, regulatory uncertainties, and the potential loss of all token value.

6. LIMITATIONS OF LIABILITY AND DISCLAIMER

6.1 No Liability for Burned DEUS. The Protocol is not liable for any loss (financial or otherwise) You incurred by burning DEUS, nor for any differences in the value of DEUS at various times or the ratio at which SYMM Tokens were ultimately allocated.

6.2 No Warranties. SYMM Tokens are provided “as is” and “as available” without warranties of any kind, either express or implied. The Protocol disclaims all warranties, including those regarding merchantability, fitness for a particular purpose, or non-infringement.

6.3 Indirect Damages. To the fullest extent permitted by law, the Protocol shall not be liable for any indirect, incidental, special, punitive, or consequential damages arising out of or in connection with these Terms, the Burn Event, or the allocation of SYMM Tokens, even if advised of the possibility of such damages.

7. KYC AND COMPLIANCE REQUIREMENTS

7.1 Identity Verification. The Protocol may require You to complete Know Your Customer (KYC) procedures before or after allocating SYMM Tokens. Failure to comply may result in delayed or withheld allocations.

7.2 Legal and Regulatory Disclosures. The Protocol may request information or documentation from You to comply with applicable laws or regulations. You agree to promptly provide accurate and complete information when requested.

8. CONFIDENTIALITY

8.1 Confidential Information. Information exchanged in relation to these Terms that is not publicly available shall be treated as confidential and shall not be disclosed to any third party without the prior written consent of the Protocol or unless required by applicable law.

9. TERMINATION AND FORCE MAJEURE

9.1 Termination. These Terms remain in effect until they are fulfilled or terminated in accordance with their provisions. The Protocol may terminate these Terms if You breach them or if required by applicable law or regulatory actions.

9.2 Force Majeure. Neither Party shall be liable for delays or failure to perform due to causes beyond its reasonable control, including acts of God, governmental actions, or technological disruptions.

10. DISPUTE RESOLUTION

10.1 Governing Law. These Terms shall be governed by and construed in accordance with the laws of [Jurisdiction], without regard to its conflict of law principles.

10.2 Jurisdiction. The courts located in [Jurisdiction] shall have exclusive jurisdiction to resolve any disputes arising out of or in connection with these Terms, unless the Parties mutually agree to alternative dispute resolution methods.

11. MISCELLANEOUS

11.1 Entire Agreement. These Terms constitute the entire agreement between You and the Protocol regarding the burning of DEUS tokens and subsequent the allocation of SYMM Tokens and supersede any prior understandings or representations, whether written or oral.

11.2 Severability. If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

11.3 No Partnership. Nothing in these Terms shall be construed as creating a partnership, joint venture, agency, or any form of employment relationship between You and the Protocol.

11.4 Assignment. You may not assign any rights or obligations under these Terms without the prior written consent of the Protocol.

11.5 No Waiver. Any failure by the Protocol to enforce any provision of these Terms shall not constitute a waiver of future enforcement of that or any other provision.

CONTACT INFORMATION For questions or concerns about these Terms, please contact: contact@symmio.foundation

By receiving SYMM Tokens, You acknowledge that You have read, understood, and agree to these Terms.

A Fully Decentralized, Trustless System

In the third part of our discussion on SYMMIO, we dive deeper into its unique, decentralized nature. SYMMIO distinguishes itself from other platforms by its trustless structure, where trades are carried out in a genuinely decentralized environment rather than relying on one central exchange.

Decentralized Trading System

SYMMIO is fundamentally designed around a decentralized approach, which makes the entire system trustless. While there could be a single counterparty offering all trades and hedging itself, it would result in a fully centralized system, similar to what you'd find in a typical cryptocurrency exchange such as Binance. In such a setup, the central exchange holds control and can dictate the conditions of the trade, which introduces the risk of manipulation and trust issues.

By contrast, SYMMIO decentralizes trading by facilitating high-throughput Automated Markets for Quotation (AMFQ) based OTC systems. An AMFQ system allows users to request quotes for a specific quantity of security, and the system responds with a price that can be executed immediately. It's a more suitable model for blockchain because it reduces the complexity of creating a fully decentralized order book on-chain.

On-chain Order Books: A Different Perspective

Traditional crypto trading platforms rely on order books to facilitate trading. However, creating a high-throughput order book on-chain in the blockchain environment is nearly impossible due to technical constraints and the potential for front-running (an unethical practice of executing orders on security before officially announced trades).

The current crypto trading landscape is still in its nascent stage compared to traditional finance. Centralized order books are more suited for these conventional financial systems, where latency (delay in data transmission) can be minimized. The fight for the least latency is ongoing, and in a decentralized setup like blockchain, the fair ordering of blocks to prevent front-running is a significant challenge.

Several protocols, like DYDX, try to address this by implementing models where all validators are KYC'd (Know Your Customer) and selected to prevent front-running. However, such an approach still implies trust in the system for selecting a fair validator set.

SYMMIO takes a different approach, rejecting the concept of on-chain order books and developing an innovative OTC AMFQ system instead. This not only prevents front-running but also takes full advantage of the decentralized nature of blockchain.

Collateral and Risk Management

In SYMMIO's trustless system, counterparties lock collateral on-chain, meaning you never rely on your counterparty's actions. If the price moves, depending on the leverage, your counterparty could be liquidated. The system also has a built-in mechanism to disincentivize liquidations.

Moreover, an instant auction is possible if a counterparty gets liquidated, meaning another party can purchase your position at a discounted price. The liquidated counterparty also provides a Credit Value Adjustment (CVA), a risk premium, which goes to the other party as compensation for the risk taken.

Bridging the Gap Between Centralized and Decentralized Trading

SYMMIO essentially mirrors the risk on-chain, creating a unique hybrid model that balances the strengths of both centralized and decentralized systems. It serves as a marketplace facilitating third parties, known as hedgers, to execute orders. These hedgers can essentially be anyone, opening up a plethora of possibilities. They can operate on any exchange, be it Binance, Bybit, KuCoin, Bitfinex, or even run their own market-making or product structuring operations.

In conclusion, SYMMIO offers a promising solution to the drawbacks of current crypto trading systems.

SYMMIO GitBook: Part 4 - Mechanics, Pair Trading, and Market Efficiency

Introduction

In Part 4 of our series, we delve deeper into SYMMIO mechanics, discussing the importance of the trading volume to collateral ratio, the power of pair trading, and how market efficiency is achieved. This discussion allows us to understand why SYMMIO has the edge over its competition and how it plans to attract and retain users.

Trading Volume to Collateral Ratio

Its striking trading volume-to-collateral ratio is at the heart of SYMMIO's efficiency. SYMMIO has demonstrated a unique capability to achieve high trading volumes with relatively small collateral. For instance, with $25,000 in collateral, the trading volume reached 6 million. This results from the test phase involving a select group of 250 users.

Comparatively, similar platforms require far more funds to achieve similar volumes. This points to SYMMIO's inherent efficiency and potential for growth. The high volume-to-collateral ratio is essential for potential users and investors, indicating a platform's capital efficiency.

Capital Efficiency and Pair Trading

SYMMIO employs leverage to maximize capital efficiency. The ability to trade using leverage and the unique feature of pair trading sets SYMMIO apart from its competitors.

Pair trading allows users to trade two assets against each other. For example, a user can short Bitcoin while going long on Ethereum. This practice offers a means of hedging, diversifying investments, and capitalizing on market trends. By allowing pair trading, SYMMIO grants traders the flexibility to customize their investment strategies and manage their portfolio risk more efficiently.

Bridging the Efficiency Gap

SYMMIO also bridges the efficiency gap between centralized and decentralized trading platforms. SYMMIO offers users a trustless, self-custodied trading experience, similar to other on-chain platforms. However, unlike many competitors, SYMMIO aims to provide a product range comparable to centralized exchanges.

The ultimate goal is to eliminate the trade-off between centralized and decentralized platforms. SYMMIO plans to leverage market makers to close the efficiency gap and provide more competitive trading fees to achieve this. It is believed that as more liquidity enters the SYMMIO ecosystem, trading costs will decrease, potentially becoming even cheaper than centralized platforms. The removal of the middleman in transactions furthers this efficiency.

Affiliate System and User Education

SYMMIO understands the importance of incentivizing users to migrate to its platform and retain them. To achieve this, an affiliate system is being designed, similar to the referral system used by FINA. SYMMIO aims to increase its user base and liquidity by rewarding users for bringing in new participants.

Education ensures users understand the product's full capabilities and benefits. SYMMIO is creating educational content on platforms such as Medium and Discord to address this. The goal is to provide valuable and accessible information to users, enabling them to leverage the platform effectively.

Conclusion

SYMMIO leverage system, pair trading feature, and plans to bridge the efficiency gap make it an exciting and promising platform in the DeFi landscape. The focus on education and user incentivization are vital strategies to attract and retain users. As SYMMIO continues to evolve, it holds the potential to become a formidable player in the decentralized trading space.

Revolutionizing DeFi

User Education and Scaling Strategy

Building on our previous chapters, we will now discuss our unique approach to user education and our plans to scale SYMM IO. The essence of SYMMIO is to foster inclusivity in decentralized finance. Our strategy involves educating traders and liquidity providers about the value they can obtain from using our system.

User Education

At SYMMIO, we believe that knowledge is power. Our educational content is, therefore, designed based on our target audience's needs. For everyday users, we simplify complex DeFi concepts, ensuring they understand the benefits they stand to gain from our system. For instance, we explain how SYMMIO allows them to pay less in fees and gain access to a larger pool of assets for trading.

For market makers and liquidity providers, we delve deeper into the workings of our system. We educate them about how they can become liquidity providers and this role's unique opportunities.

Trade Monitoring and Transparency

SYMMIO is built on a foundation of transparency. As such, we make it a point to keep our users updated about ongoing trades, even those we execute as developers. This approach not only gives users insights into the workings of our platform but also builds confidence in our system.

We believe this transparent approach will pave the way for a new variety of DeFi products. For the first time, you can create isolated accounts within SYMM IO, where trades are cross-referenced within the account but isolated from other accounts. We are also exploring making these accounts tradable, which means you could send the full balance, use it as collateral, or integrate it into a DeFi product.

Scaling Strategy

Our growth strategy is to enable other DEXs to integrate our system. We have realized that many DEXs strongly desire to offer perpetual contracts but struggle to attract liquidity. With SYMMIO, these DEXs can integrate our system and access all the liquidity we have in the whole system. This is because our liquidity is not locked in one place; it's request-based. Therefore, a liquidity provider on our platform can simultaneously provide liquidity to numerous front ends, accepting trades from various platforms.

This approach will allow us to scale our product, providing it as Software as a Service (SaaS) to various DEXs, earning fees, and conducting profit sharing between the DEXs and us. This strategy is essential for our business to grow.

Embracing Change

In this rapidly evolving DeFi space, SYMMIO is unafraid to tackle tough questions and adapt to new market realities. In our journey, we talked about tokenizing real-world assets like real estate. However, while this might seem attractive, the legal and trust issues associated with such tokenization make it currently unfeasible.

Crypto is best suited for creating trustless financial systems, not legal constructs. However, we remain open to the possibilities and continue to engage in these discussions to understand better and leverage emerging trends in the DeFi space.

In the final chapter, we will discuss our vision for SYMMIO and how we plan to keep pushing the boundaries in the DeFi space.

Symmio Foundation Privacy Notice

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If you are located in the European Union ("EU") or the United Kingdom ("UK"), certain additional terms and rights may apply to you, as detailed herein. Symmio Foundation is organized under the laws of the Cayman Islands.

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Last updated: December 2024

SYMMIO aims to revolutionize the DeFi space by solving two major issues - capital efficiency and throughput in on-chain derivatives.

Out of the year-long research and joint efforts of different projects, SYMMIO was created.

The concept was initially conceived by Lafachief in 2020, evolving over a span of three and a half years through relentless research and development efforts. This work involved extensive collaboration with external and internal community members and several partner protocol teams.

Currently, SYMMIO has a team of more than 15 individuals. A section dedicated to the contributors will soon be integrated into the Gitbook.

Onchain Governance

The goal is to implement fully on-chain governance at some point, the initial team will only help create the initial structure, and afterward, the SYMM DAO will decide about future deployments and upgrades. While the team will continue to propose changes they see fit, the ultimate power will lie in the hands of the token holders.

The Journey So Far

The SYMMIO journey commenced in May 2020, with the first iteration project launching in September 2020. Initially, the team built a GMX-based model but soon realized its limitations in scalability. Consequently, they embarked on a three-year research and development journey to create a scalable, peer-to-peer-based system.

The Problems SYMMIO tackles

The Oracle Problem

In the blockchain realm, oracles bridge off-chain and on-chain data. However, they present a challenge in on-chain synthetics or derivatives, often due to issues such as front-running. Even chain link solutions have proven insufficient in this aspect.

SYMMIO, unlike vAMM-based platforms, tries to rely as less as possible on Oracles for pricing. Instead, it adopts a peer-to-peer OTC exchange system, partially sidestepping the Oracle problem.

Please note that in the first SYMMIO MVP, Oracles are still needed to provide uPnL of accounts, it's needed for flagging liquidations and used for force closing (used when PartyB doesn't respond in time or acts malicious).

Efficiency

Efficiency is another critical issue in on-chain derivatives. Due to blockchain's limitations, traditional order book models are capital efficient but technologically slow. Conversely, systems trading against the oracle price are technologically fast but capital inefficient.

SYMMIO strikes a balance by adopting a peer-to-peer OTC system that facilitates high-speed trading while being exceptionally capital efficient.

The SYMMIO Solution

The Peer-to-Peer OTC System

SYMMIO's unique system allows users to engage in peer-to-peer trade directly. This system does not rely on oracles but leverages off-chain peer-to-peer communications. The trades are executed only if a counterparty is present and the terms of the trade are negotiated upfront.

This system mitigates double spending and achieves settlement speeds of five to ten seconds, ensuring an efficient and seamless trading experience akin to centralized exchanges.

The Potential of SYMMIO

SYMMIO's innovative solution is expected to be transformative in the DeFi space. Its capital efficiency and high-speed transaction capabilities are projected to make it a significant player in on-chain derivatives trading.