EARN REWARDS NOW

A Decentralised Exchange (DEX) & an Automated Market Maker (AMM). How to earn rewards;
• Step 1 - Launch app
• Step 2 - Connect wallet & add liquidity
• Step 3 - Earn fees + reward tokens

Celo pools
Add liquidity on celo

Why Symmetric?

cases-icon-4.png
Near-zero fees

Lower gas prices and lower swap fees mean higher earnings for liquidity providers, this opens up DeFi to all investors, regardless of size

cases-icon-3.png
Multichain

Symmetric is live on the xDai and Celo networks and will be adding support for more in the future

cases-icon-1.png
Customisable pools

Support for up to 8 tokens per pool, along with customisable smart pools means users can create index funds, launchpads, ESG focused funds and unlock more use-cases

cases-icon-6.png
Unique risk fund

Symmetric offers a unique risk fund that provides added protection to liquidity providers, users and the community from losses due to compromised assets or breaches

cases-icon-5.png
Ecosystem support

The Symmetric launchpad will support the creation and launch of new DeFi projects to grow and support the ecosystem

cases-icon-2.png
DAO governed

Symmetric is community owned and controlled to ensure stakeholder interests stay aligned

Supported Networks

xdai white

The xDai chain is a stable payments EVM (Ethereum Virtual Machine) blockchain designed for fast and inexpensive transactions

celo white

Celo makes financial services accessible to everyone with a mobile phone, to enable conditions of prosperity for all

Roadmap

July 2021

Completed private seed round and soft-launch on xDai, launched SYMM governance token and Symmetric DAO

August 2021

Launched on the Celo network, focus on building and growing an engaged community

September 2021

List SYMM token on additional exchanges and focus on bug fixes to continue improving functionality

Q4 2021

Build and integrate cross-chain bridges for seamless token mobility between xDai, Celo and Ethereum mainnet

2022

Grow Symmetric users and community. Continue to focus on user experience, add new features, improve network routing and cross-chain functionality

Frequently Asked Questions (FAQs)

Symmetric is an Automated Market Maker (AMM) and a Decentralized Exchange (DEX), running on the Celo and xDai networks.

Symmetric’s roadmap includes further development of use-cases (such as a launchpad, crypto index funds, crypto ETFs & ESG funds) and support for more networks in the future.

Symmetric is noncustodial, which means that users remain in control and are responsible for the crypto assets they stake, add or swap. Symmetric provides the infrastructure for staking, liquidity mining and token swaps but does not control or take possession  of any crypto assets or tokens transacted by users (they remain locked in smart contracts).

We strongly recommend and encourage that all users complete thorough research and due diligence before adding any liquidity or executing any token swaps.

Initially Symmetric will only support MetaMask and Wallet Connect compatible wallets, but will be adding support for many more in the future.

We recommend using MetaMask which was the primary wallet used for testing. Download here

For mobile, we recommend using Cent DeFi wallet which was the primary wallet used for testing. Download here

‘SYMM’ is the ticker or symbol, for the Symmetric governance token. The token’s utility is to entitle token holders to participate in the governance of Symmetric and its ecosystem.

SYMM coins are issued as a reward to liquidity providers (in addition to their share of any applicable fees) & stakeholders adding value to the Symmetric ecosystem.

It is important to note that the Symmetric governance token is not a cryptocurrency and as such has no monetary value, it only represents voting rights for governance of the Symmetric pools, decentralised exchange (DEX) and ecosystem.

Symmetric’s team believes in the principles of a fair launch, which does not reward groups with large pre-mined token holdings prior to the product or service launch. Typically in an ICO, IDO or other type of token event, there is a large pre-mined allocation of coins to founders giving a quick secured reward. A fair launch has a smaller or no pre-mine and value flows out to beneficiaries after the launch of a project.

DeFi products require liquidity at launch and there are costs associated to launching a project. Symmetric opted to follow the general principles of a fair-launch but also completed a small private sale to raise funds for launching liquidity pools and associated operational costs. In total, the private sale raised $150,000 with the token distribution shown in the tokenomics post on our blog, which can be found here.

Additional details on tokenomics, rewards and minting schedules can be found here.

Symmetric’s governance token, or ‘SYMMs’ can be acquired through token swaps, completing pre-specified tasks on GitHub, liquidity mining and other value-adding activities.

Liquidity providers earn SYMM coins by staking coins or adding liquidity to pools or creating their own pools of whitelisted tokens.

Community members earn SYMM coins by actively working on the Symmetric product such as development work, bug bounties, events, marketing and community building.

The operations team earns SYMM tokens by actively supporting the Symmetric ecosystem; including ongoing development work, management and day to day operations.

Some SYMM coins are also converted each week into other coins that are held in the Symmetric risk fund as ‘collateralized protection’ for liquidity providers.

Our belief is that DeFi protocols, facilitating decentralised financial services should also be governed in a decentralised way by stakeholders to ensure interests remain aligned and that incentives and rewards flow back to value creators. To ensure this happens, Symmetric will be governed as a Decentralised Autonomous Organisation (DAO) where the voting power for important & consequential decisions, rests with the DAO members.

Symmetric uses DAOhaus to administer the DAO which can be found here.

Through this DAO, anyone can raise proposals which DAO members can then discuss and vote on.

Liquidity providers who lose money due to an event such as a malicious attack, compromised or crashed asset, can put in a claim to the Symmetric risk fund.

This fund will grow over time with monthly token allocations and diversify concentrated asset positions by converting some SYMM coins each week into other crypto assets to be held by this fund as ‘collateralized protection’. This diversification will only begin once the pools have enough liquidity to withstand market impact costs. The risk fund helps reduce risk for liquidity providers, something we feel is necessary in todays DeFi market.

The fund will also be governed by the DAO and will continue to look for more capital efficient ways to boost protection for Symmetric users.

The Symmetric blog hosted on Medium provides additional information about the project, along with the documentation (Docs) posted on the website. We recommend that all users and potential users read and familiarise themselves with the documents and the blog posts on project tokenomics, governance, team and plans for growth – to ensure there are no surprises and that expectations are managed appropriately. 

The Symmetric blog can be found here.

Symmetric Docs can be accessed here.

Liquidity mining combines two concepts in crypto & DeFi -‘liquidity’ and ‘mining’.

Liquidity, refers to the availability of coins or tokens in a given pool, essential for the growth and expansion of Symmetric. Mining, in this context, refers to stakeholders receiving newly minted Symmetric governance tokens each month (e.g. liquidity providers, operations or community) based on their contributions (usually capital or labor).

Therefore liquidity mining on Symmetric refers to ‘liquidity providers earning Symmetric governance tokens as rewards in addition to the returns earned from swap fees’ from token swaps (or trades) within pools.

  1. Open Metamask, and select “Custom RPC” from the Network Dropdown.
  2. In the “Custom RPC” Settings, add in the xDai network details and click Save:

Note: Chain ID 0x64 is the hexadecimal equivalent of 100, which is the xDai chain ID. MetaMask recently updated the ChainID to be a required field. When you update, you may need to reenter the Chain ID: 100, and it will be converted to hexadecimal: 0x64.

If you are having issues, try entering 100 for Chain ID and resaving the configuration.

  1. Open Metamask, and select “Custom RPC” or “Add Network” from the Network Dropdown.
  2. In the “Custom RPC” Settings, add the Celo network details and click Save: