Symphony Finance creates a set of decentralized, open and transparent protocols for everyone on the Avalanche blockchain.
How does Symphony Finance work?
Symphony DEX — a new decentralized exchange that brings income. This helps traders to maximize profits and profitability at the same time, thereby increasing the efficiency of capital use, compared to the existing DEX.
In addition to profitability generation, Symphony DEX has other wonderful functions, such as “liquidity aggregation”, which benefits users, performing their transactions at the best price. The type of STOP-LOSS order is also supported by Symphony DEX.
Anyone can launch the contractor’s service and place a user interface to perform transactions. The contractor will also be interested in placing his own user interface, which makes the Symphony DEX user interface decentralized. In the end, this will help to eliminate the downtime of the user interface.
Symphony architecture consists of 3 main components:
| Transactions with optimized profitability | Every time you sell Symphony Dex, your orders bring income. These income are automatically summed up and paid in the execution of the warrant. This makes the protocol more effective, compared to existing exchanges. |
| Meta DEX Aggregatooor | Assets for sale may have a related profitability strategy. Funds are included in the strategy for income, while the corresponding order is still in the order of orders. Protocols such as Aave, Compound, Yearn, Mstable, etc., can be strategies for profitability. |
| Restrictions and stop losses | Currently, the limit and stop-loss of the warrant are available. The limit order allows you to maximize profits by setting time at the top. |
Symphony DEX also guarantees the implementation of transactions as soon as prices appear on the market, eliminating the need for “takers”. In the context of Symphony DEX, integrated DEX or DEX aggregators act as recipients. Most CEX and DEX do not offer guarantees for the execution of transactions due to the lack of takers or delays, caused by arbitration. Symphony DEX aggregates liquidity on the network and provides the best guarantees for the execution of transactions.
Working rules
The order can be created by using the project interface or through a smart contract. Select the input and output asset. Enter the amount and set the maximum price. Approve the input asset (in the case of ERC20 tokens).
If desired, you can also install a stop-flash. If the price falls below the indicated, the order will be executed. Click confirm in Metamask to create an order. You can update your open orders by clicking the "Change" button on orders. Open orders can be seen on the “Open Orders” tab under the schedule.