Symmio Developer Update — Q1 Progress Recap

Token updates and ZeroSpread Solvers.

2025 has just begun, but many significant milestones have already been achieved. With our successful TGE now behind us, we look forward to an exciting and eventful year ahead, remaining steadfast in our commitment to finally introduce permissionless derivatives to the industry.

The end of Q1 and the beginning of Q2 will highlight Staking & Vesting, as well as ZeroSpread Solvers.

Quick Introduction to ZeroSpread Solvers: Currently, solvers like Rasa and Perpetual Hub operate similarly to what is known as an A-Book system in Brokerages. A-Book brokers forward trade orders to liquidity providers, who then relay these orders to the interbank market.

In contrast, B-Book brokers process customer orders internally, acting as market makers without using external liquidity networks. Essentially, an A-Book broker transfers market risk externally, while a B-Book broker directly takes on the directional market risk.

A ZeroSpread solver follows the B-Book model, effectively trading against its users. This approach introduces additional risk but also unlocks more opportunities for the solver itself.

Practically, this allows Symmio to offer markets with zero spreads and zero fees. In this scenario, solvers profit exclusively when users incur losses. With Rasa as the first ZeroSpread solver, we’re exploring opportunities to enable profit-sharing mechanisms with frontends and Symm-Stakers, ensuring zero-fee markets while still redistributing value back to the communities.

Beyond this, ZeroSpread Solvers bring additional advantages: In the next iteration, expected to be ready by Q2/Q3, other market makers will be able to place orders through a straightforward API similar to Binance’s. These orders are then matched against incoming user flows within the ZeroSpread Solver’s virtual order book.

Additionally, community vaults will fund the ZeroSpread Solver, and isolated vaults will enable market makers to pass through orders. Essentially, this sets the foundation for an early version of a Meta-Solver, operating with an ultra-low latency matching engine.

Another significant benefit of the ZeroSpread Solver is its capability to maintain a virtual liquidity book, thus enabling market offerings on virtually any asset — provided LPs and Community Vault depositors are comfortable accepting the associated risks.

TL;DR: The ZeroSpread Solver addresses several key challenges currently faced by Symmio:

• High spreads, ZS-Solver as the name suggests, will enable zerofee and zerospread markets.
• Currently, solvers are limited to listing only Binance markets, Zerospread solver also allows for listing of virtually any asset, if the liquidity providers / vaults approve them in terms of assumed risk.
• Lack of straightforward APIs for market makers to place resting limit orders

Zero Spread Solver V1: MVP slow rollout anticipated end of March / April, significantly enhancing liquidity and user experience.

• Community vaults are also being prepared with selected partners (IntentX, Backed etc) for gradual scaling, allowing expanded community participation.

Zero Spread Solver V2: Development in Q2, will enable external market makers to effortlessly add resting orders, greatly reducing onboarding friction.

Staking & Vesting coming end of Q1 / beginning of Q2

• The core team has finalized the Staking & Vesting smart contracts.
• An audit contest with Sherlock is being launched this week (March 7th, 1500 hours GMT and will run for 72 hours), the team is confident to finalize audits in 2–3 weeks maximum, dependent on the audit results.
• Concurrently, our frontend team is actively designing and building a user-friendly UI to easily manage your staked SYMM and vesting positions.
• While we aim for a release at the month’s end, audit timelines will influence the exact launch date.

Symmio Points Program: Season 2 Extension by 3 months

• Season 2 is officially extended by three months. With this extension, additional rewards will be provided, though the total amount is yet to be determined. This extension also offers an excellent opportunity to engage with our new partners: LODE, IVX, and Xpanse.
• Take advantage of this extended period to maximize your points and interactions within the Symmio ecosystem.

IntentX Trading Olympics has been concluded

• https://basescan.org/tx/0x86a160c6dcae376bee9e6505e06920f210a5a41480bfd2c949c8c8e6e25e5402
  30% of the $SYMM rewards have officially been dispersed, the remainder will be vested together with all other vesting schedules (S0/S1 points & pre-salers)
• Congratulations and thank you to everyone who made the IntentX Trading Olympics a remarkable success, achieving over $2 billion in total trading volume.
• The competition offered over $550,000 in rewards, and distribution of these rewards is finalized. Expect reward distribution shortly (exact date TBA).

Additional Q1 Developments & Progress:

Rasa & Orbs Optimization

• The Rasa team remains focused on optimizing solver UX for Binance markets, implementing community-requested enhancements, and launching critical UX improvements.
  Further enhancements, including instant withdrawals.

Options Contracts

• Significant progress has been made on options contracts, nearing completion, we are currently still in close contact with partners that have vast options experience to ensure a rich list of features are available on day one.
• ETA for contract audit and first solver integration remains Q2/Q3

Low-cap Solver

• Two distinct teams are now actively working on low-cap solver, under the umbrella “superflow trading”, in partnership with Vibe as well as others, the goal is to onboard as many launchpads as possible and get projects a perp listing on Symmio from day one (ETA for first testnet for low-cap solvers in Q2.)

Meta-Solver

• A new dedicated team is currently being onboarded led by a seasoned expert with extensive experience responsible for building matching engines & Order Management systems at OKX, Binance, and JPMorgan, is developing an advanced Meta Solver on Symmio. Initial tests demonstrated performance capabilities of around 1 million operations per second. (ETA for an early MVP is Q3)

Stock Solver

• We are engaging with two potential brokerage partners to integrate stock trading functionalities on Symmio.
• Community members interested in becoming a stock solver or collaborating are encouraged to reach out. The team is ready to support joint ventures or facilitate connections.
• A potential collaboration with Zenith, given their vast experience as TradFi MarketMaker is currently being explored. (no ETA available)

A more comprehensive list of upcoming features will be detailed in our comprehensive Symmio 2025 Roadmap, which should be released at the end of March.

The Symmio Core Team