Introducing SYMMIO’s “Serviced Frontends”

Enhancing the onboarding experience and, therefore, improving protocol expansion, via Meta-Frontends partnership program.

Introduction:

It’s been an eventful four weeks since our announcement of our fundraising efforts. As we approach the one-year mark of my first trade on Cloverfield, reflecting and understanding the challenges in expanding SYMMIO and providing services to all partners interested in becoming an SYMMIO frontend is essential. Therefore, we are excited to share a pivotal development for SYMMIO. This evolution signifies our commitment to improving the DEX user experience and expanding the protocol.

TL:DR
Ambitious Front Ends can become Meta-Frontends or “Service Providers”, through election by the DAO, anyone can become such a Service Provider.

Service Providers can serve/host frontends for others for example a DEX and take up to 15% of the profit share as service fee, Service Provider can compete with each other on offering better services but also better prices, the SYMMIO protocol just gives a range of a maxServiceFee of 15%, this means that Meta-Frontend partner can develop & improve the original cloverfield frontend UX/tooling/ a lot more and can offer this as a service to other DEXs/Partners, without sharing the source codes.
Serviced Frontends effectively have to do nothing, to become a high quality SYMMIO frontend through this program. Note that using a serviced frontend is not required, and new frontend partners can also decide to develop their own solutions, this serviced frontends approach is totally optional and service providers need to be selected by the DAO. (The SYMMIO team will award early adopters a grant to become a serviced frontend till the DAO is operational.)

We are inviting ambitious Frontend Partners to start proposing to become Service Partners!

Why the Need for Change:

Over the past year, we’ve celebrated significant milestones and navigated challenges. A paramount realisation has emerged: the imperative for enhanced user experience (UX) on the frontend side. Allowing individual frontends to advance their technology in isolation could impede collective growth within our ecosystem. Our unwavering dedication to these aspects is driven by a vision to render centralised derivatives exchanges obsolete, and a vital aspect of that vision is to improve UX to a point where trading via SYMMIO feels better than trading via CEXs, thereby elevating the overall success of the SYMMIO ecosystem. With a focus on the future and a pledge to drive exponential progress, we propose a transformative shift in our frontend model. This includes the introduction of a ServiceFee of up to 15% on the ProfitShare, incentivizing ambitious third party teams to contribute to the ecosystem’s collective service.

Consequently, the SYMMIO team, in partnership with current frontends, has determined the strategic move to delegate the responsibilities of frontend development and partner onboarding to capable and driven entities, now referred to as “Meta Frontends.” This shift allows the SYMMIO team to concentrate on expanding the protocol stack, enhancing SDKs, and refining Solver integration tools. This strategic realignment is designed to accelerate our collective advancement and reinforce our commitment to a more robust, interconnected & aligned ecosystem of key frontend players.

What Are Serviced Frontends?

“Serviced frontends” & their Meta-Frontend Service Providers will be at the cornerstone of this program, serving as a protocol-enshrined mechanism for scaling. This initiative enables ambitious partners to become integral parts of our network. Their role involves enhancing the technology stack and, most importantly, refining the trading experience. Additionally, they are incentivized to onboard new frontends and actively do business development for the SYMMIO ecosystem and, in return, receive a profit share for their valuable contributions. This model is founded on the principles of mutual growth and shared success. It’s designed to ensure that as our partners prosper, the entire SYMMIO ecosystem flourishes alongside them.

Current State:

At present, the SYMMIO team is responsible for:

• Maintaining the Frontend SDK: Ensuring the software development kit is up-to-date, robust, and user-friendly.
• Onboarding New Frontends: Integrating new partners into the SYMMIO ecosystem to expand our reach and capabilities.
• Engaging in Business Development: Actively seeking and attracting additional frontends to foster growth and diversity.
• Developing Core Contracts: Crafting the fundamental agreements and rules that govern the protocol’s operation.
• We are securing the Protocol: Implementing and maintaining security measures to protect the integrity and trustworthiness of the platform.
• Developing MarketMakers: Creating strategies and tools to enhance market liquidity and efficiency.
• Operating a MarketMaker: Actively managing trading strategies to provide market liquidity and stability.

Because efforts are broad & the SYMMIO team is working on all fronts at the same time we are facing challenges in:

• Keeping Pace with UX Improvements: Individual frontends are advancing their user experience, but the central team needs help to match this pace across the board.
• Delivering High-Quality Standards, Ensuring new frontend partners receive the quality and support they deserve.
• To put it, the resources of the SYMMIO team are entirely stretched, and the growth of Frontend Partners is outpacing our ability to support them. Delivering the high standards already set by established frontends to new frontend partners is becoming increasingly complex and challenging. Consequently, a fundamental change at the protocol level is imperative to address these growing demands.

Optimal task distribution In the Future:

Looking ahead, SYMMIO plans to refine its focus to enhance efficiency and effectiveness:

• Core Contracts & Protocol Stack: Concentrating on the backbone of our platform to ensure robustness and scalability.
• SDKs: Specialising mainly in tools for Solvers and providing support to Service Frontends to foster integration and innovation.
• Documentation: Committing to clear, comprehensive, and user-friendly documentation to empower our partners and developers.
• MarketMaker onboarding, business development and also providing sufficient tooling like SDKs for fast integrations.

Meanwhile, Frontend Service Partners will take on a more pivotal role:

• We are developing new frontend features: Innovative functionalities to enhance user interaction and satisfaction.
• Improving Trading Experience: Working across the entire protocol stack to ensure a seamless, intuitive, and efficient trading experience.
• Enhancing the SYMMIO Frontend: Collaborating with the SYMMIO team on new frontend developments, making it more accessible and powerful.
• Onboarding New Frontends: Expanding our network by attracting and integrating new partners into the SYMMIO ecosystem.

Additionally, we are transitioning MarketMaking operations to an early adopter MM. Details on this shift will be shared in a forthcoming announcement, marking another step in our evolution toward a more decentralized and partner-empowered future.

Critical Benefits of Serviced Frontends:

1. Empowered Ambition: The most driven frontends and their teams are now incentivized to work with and for SYMMIO. This fosters alignment and accelerates our reach and network expansion by actively bringing more frontends into the fold.
2. Elevated UX Standards: With this program, we set a higher benchmark for UX quality across all frontends. This means a more seamless, intuitive, and engaging user experience.
3. Focused Expertise: The SYMMIO team can now concentrate on what we do best: core contracts, peripherals, and SDKs. This specialisation allows us to onboard more service partners and liquidity providers, further strengthening our ecosystem.
4. Innovative Access: Ambitious frontend partners who are improving UX and introducing new features will now be able to make these enhancements accessible to the broader SYMM ecosystem.
5. Broadened Partnership: The program significantly lowers the technical barriers and time investment for onboarding new frontend partners, allowing us to welcome a more diverse and dynamic group of collaborators.

Conclusion:

The “SYMM, Serviced Frontends” program marks a new chapter in the SYMMIO narrative. It’s a step forward in our unwavering commitment to excellence, innovation, and community. As we continue to evolve and adapt, we remain dedicated to providing a platform that not only meets the needs of today’s users but also anticipates and shapes the future of trading. Join us as we embark on this exciting journey, redefining what’s possible in user experience and network growth. We are paving the way for a more connected, efficient, and vibrant trading ecosystem.