Over the last weeks, we have started a preliminary exploration into a concept for creating a Solver/Vault to list effectively ANY meme-based token with leverage on @symm_io. This concept draws inspiration from other LP based Perp vaults, but is externally managed by SYMMIO Solvers, hence creating alot more capital efficiency and external pricing (which is needed to ensure its robust, and effectively oracle-less (only liquidations would require some sort of oracle) To elucidate, consider the following diagrams: Diagram 1: 1) UserA deposits 5,500 units of WIF, valued at $2 each, to a dedicated WIF vault. (total value $11,000) 2) Concurrently, UserB deposits 11,000 units of USDC into the same vault. (total value $11,000) 3) TraderA subsequently submits an intent on SYMMIO to take a $1000x10x long position on WIF. (total value $10,000) In response, a hedger utilizes the assets within the vault, in conjunction with external liquidity sources such as Uniswap or centralized exchanges, to execute a sale of WIF, passing down the slippage to TraderA in the Order. Pre-Trade state: $11,000 (5,500 WIF) long exposure $11,000 (11,000 USDC) delta-neutral exposure Diagram 2: The Post-Trade state 1) the hedger adjusts the composition of the spot vault, which now predominantly holds WIF. 2) Additionally, the hedger takes a short position on 5,000 units of WIF. $20k (10,000 WIF) Long exposure $10k short exposure > effectively 10,000 delta neutral 10,000 Long exposure A few notes: - Solvers need to fine-tune Maintenance Margin and IM requirements (that's effectively their job in addition to the operation itself). - Vault operators are trusted; it would probably be possible to make it trustless, but it would limit the possibilities of the solver and, therefore, would probably be -ev - Solver collateral / stake / slashing could help but also a general reputation system for solvers. - Ultimately, solvers need to optimize to figure out the optimal strategies. (they need to be dis/incentivized to be reliable; again slashing could be an idea here, but also reputation will be necessary) - Vault contributors could deposit directly with a selected solver, choosing them based on past returns/experience, selecting Solvers who can maximize their returns. - Solvers, e.g., collateral deposits, could require some form of skin in the game. - IMO, the risk of depositing into such a vault could mimic holding the meme-based cryptocurrency directly (given the operator does well.) - Although it may be of little appeal to USDC depositors, especially in the context of high-risk vaults. (some modifications could be necessary to attract liquidity for shitcoins.) Overall the whole idea could be an intriguing avenue for experimentation; after all, SYMMIO is really about the ability to add any derivatives permissionless, & providing the meme coin craze with leverage could be interesting. As the SYMMIO team, we need to continue to innovate on the solver side until we reach escape velocity. I commited myself to be posting more concepts we are actively exploring and visions surrounding $SYMM in the coming weeks as we prepare for the TGE! SYMM = MORE THAN PERPS<3