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Symmio, a Singapore-based provider of a decentralized derivatives protocol, raised $3.1M in funding

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Symmio, a decentralized derivatives protocol with over $8B in trading volume, has raised $3.1M in funding, including $2.1M 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. The funding 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.

Simplifying Decentralized Derivatives
Symmio addresses DeFi’s liquidity and fragmentation issues through its intent-centric clearing layer. This infrastructure enables users to create synthetic derivatives markets with minimal barriers.

Derivatives-as-a-Service (DaaS): Symmio offers an industry-first solution that allows exchanges to launch decentralized derivatives trading platforms within days. Symmio empowers partners to focus on user acquisition and community growth by managing liquidity onboarding.

Symmio provides $200M in open interest and 600+ trading pairs across networks like Arbitrum, Base, BSC, and Mantle, with non-EVM chains coming soon. MarketMakers can permissionlessly create new markets such as Forex, Commodities, and Memes, while Front-End partners focus on expanding user engagement.

Elite Investor Support
“Symmio is not just advancing DeFi—it’s setting new standards in decentralized derivatives,” said Aly Madhavji, Managing Partner at Blockchain Founders Fund. “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.”

Symmio’s approach surpasses traditional on-chain orderbook systems like DyDx, which cap at 200K TPS. Instead, Symmio employs a topological, intent-based system with off-chain orderbooks maintained by Solvers, enabling massive parallel order matching before on-chain finalization.

“Symmio’s technology is a game-changer for derivatives trading,” said Jack Knutson, Head of BD at Symmio. “By eliminating intermediaries, we deliver scalability without compromising decentralization or trustlessness.”

Driving Change in DeFi
Unlike protocols that rely 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. 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 developed 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 intent-centric, sharded order matching technology will represent a fundamental shift in how derivatives are traded on-chain,” said Jack Knutson, Head of BD at Symmio. “We eliminate traditional intermediaries while maintaining full decentralization and trustlessness.”

Symmio’s TGE on December 16, 2024, marks a significant step forward in creating a decentralized future for derivatives trading.