Introducing Enhanced Features with Symmetry v1.5 Upgrade: A Comprehensive Overview
We are thrilled to unveil a significant upgrade to the Symmetry Protocol — Symmetry v1.5, encompassing a plethora of feature enhancements, intuitive design upgrades, and performance optimizations to augment your user experience. In this article, we delve into the notable advancements, namely:
- The introduction of Instant Mint Functionality,
- Refined UI/UX designs alongside performance optimizations,
- Extended token support via the Symmetry Engine.
Let’s explore these improvements in detail:
Instant Fund Minting: A Leap Towards Efficiency
Previously, minting fund tokens required users to deposit USDC, which was then utilized to acquire the fund’s underlying assets prior to issuing the fund tokens to the user’s wallet. This process necessitated a waiting period of approximately one minute post-deposit before the tokens reflected in the user’s wallet. Moreover, users were in the dark about the exact quantity of fund tokens they would receive.
With the Symmetry v1.5 upgrade, a user is now empowered with a choice — continue depositing USDC as before or deposit the fund’s composition assets directly, enabling immediate minting of fund tokens within the same transaction. Here’s a breakdown of how this streamlined process works:
- By default, a user deposits the fund’s composition assets proportionally according to the fund’s target weights, or alternately, the user can deposit in any desired proportions by deselecting the “Balance amounts” option.
- In instances where the deposited token amount ratios deviate from the fund’s target weights, a fee aligned with the fund’s slippage tolerance is levied on the mint amount and channeled into the fund’s total value locked (TVL), which is then distributed to other holders.
Design and Speed Optimizations: A Sleek, Swift Interface
We have significantly ramped up the platform’s speed, reducing the average loading time from 6 seconds to a meritorious 2 seconds. The platform now boasts a sleek, intuitive design with a mobile-centric approach, ensuring a seamless user experience across various device platforms.
Simplified Mint/Redeem Process: User-Friendly Workflows
Understanding that Symmetry’s plethora of unique functionalities could be overwhelming for newcomers, we’ve streamlined the minting and redeeming processes. The revamped workflows are now straightforward, easy to grasp, and effortless to navigate, making asset management on Symmetry a breeze even for the uninitiated.
Revamped Manage Page: A Hub of Insights
The Manage Page serves as a gateway to review the performance and portfolio of your held funds, alongside a comprehensive overview of the assets you oversee. With the upgrade, we’ve enriched this page with insightful data including your earnings through Deposit Fees & Liquidity Provision fees from your funds. And, the roadmap ahead is filled with exciting additional functionalities aimed at enhancing your management experience.
Expanded Token Support: Welcoming New Possibilities
Symmetry v1.5 heralds the support for an array of new tokens, extending the versatility of fund compositions on the platform. Besides the earlier additions of $SAMO, $DFL, $SHDW, and $JitoSOL,
we are ecstatic to introduce support for $BONK, a beloved memecoin on the Solana network. Fund managers can now seamlessly incorporate $BONK in their fund compositions and structuring rules.
Symmetry continues to be a work in progress with a promise of numerous more features and updates in the pipeline.
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