Symmio – a decentralized derivatives protocol with over $8 billion in trading volume – announced it raised $3.1 million in funding, including $2.1 million in new investments from top-tier investors, including Spartan Group, Orbs, MCLB, and Blockchain Founders Fund, as well as previous investments by @AgentChud (Messi), MS2 Capital, Gametheorizing (Selini Capital), GMoney & Prime Ventures.
This funding round comes as Symmio gears up for its Token Generation Event (TGE) on December 16, 2024, introducing the $SYMM token on the Base network. Initial liquidity will be provided via SYMM/ETH pairs on Aerodrome Finance.
Symmio addresses DeFi’s liquidity and fragmentation issues through its intent-centric clearing layer. And this infrastructure enables users to create synthetic derivatives markets with minimal barriers.
Symmio provides an industry-first solution that allows exchanges to launch decentralized derivatives trading platforms within days. And Symmio empowers partners to focus on user acquisition and community growth by managing liquidity onboarding.
Symmio offers $200 million in open interest and 600+ trading pairs across networks such as Arbitrum, Base, BSC, and Mantle. Non-EVM chains are coming soon.
Symmio’s approach surpasses traditional on-chain orderbook systems like DyDx, which cap at 200K TPS. And Symmio employs a topological, intent-based system with off-chain orderbooks maintained by Solvers, enabling massive parallel order matching before on-chain finalization.
Unlike protocols that depend on on-chain orderbooks—such as DyDx or Hyperliquid, which can reach a maximum of 10,000 TPS when decentralized or 200,000 TPS with co-location — Symmio aims far higher. And its vision includes onboarding billions of users and accommodating TradFi institutions requiring millions of messages per second, a scale on-chain order matching will most likely never be able to handle.
To achieve this, Symmio created a topological, intent-based system. Multiple Solvers maintain off-chain orderbooks, enabling parallel order matching at an immense scale before finalizing trades on-chain. Inspired by Ethereum’s L2 “endgame” scaling roadmap, Symmio’s approach has been in research & development since 2021.
Symmio’s TGE on December 16, 2024, marks a significant step forward in creating a decentralized future for derivatives trading.
KEY QUOTES:
“Symmio is not just advancing DeFi—it’s setting new standards in decentralized derivatives. Their innovative AMFQ technology and scalable multichain infrastructure are reshaping what’s possible in on-chain trading. We’re excited to support their journey toward transforming the future of decentralized finance.”
- Aly Madhavji, Managing Partner at Blockchain Founders Fund
“Symmio’s technology is a game-changer for derivatives trading. By eliminating intermediaries, we deliver scalability without compromising decentralization or trustlessness.”
- Jack Knutson, Head of BD at Symmio
“Symmio’s intent-centric, sharded order matching technology will represent a fundamental shift in how derivatives are traded on-chain. We eliminate traditional intermediaries while maintaining full decentralization and trustlessness.”
- Jack Knutson, Head of BD at Symmio
