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Symphony Finance is launching on Polygon!

Symphony finance allows users to create limit orders by depositing the sell asset. The order is filled automatically by an “Executor” who takes a fee to execute the orders only if the order’s price constraints are satisfied. The sell asset is deposited to a yield generating protocol like Aave, Yearn, Mstable, etc.

This feature allows limit orders to earn yield for the time they are on the order book. The initial deposit + yield earned are traded for the buy asset by the executor only if the price constraints are satisfied. The order creator receives the buy assets automatically when the order is filled. The order creator can also set a stop loss to minimise losses while still earning yield.

Symphony Finance Architecture

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About Polygon

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is the Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.

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About Symphony Finance

Symphony Finance maximizes the total return using limit order + yield generation. The sell asset is deposited to a yield generating protocol like Aave, Mstable, Yearn, etc. This feature allows limit orders to earn yield for the time they are on the order book. The order creator receives the buy asset automatically when the order is filled. The orders are filled automatically by “Executors”. The executor receives a small fee for executing the orders as they have to bear the expenses for running the relayer service and transaction costs.

Symphony Finance
Symphony Finance Roadmap

Stop-loss is another great feature that allows for minimizing risk in case the sell asset price goes below a certain price threshold. Symphony limit orders are obviously different from the traditional limit orders where the sell assets are not utilized while the order is on the order book.

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About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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