Introducing Asymmetry.
The time has come to tell the world about Asymmetry, or what we can share so far.
Whether you’ve been patiently waiting in our Discord, following our Twitter, or on our Substack mailing list waiting for more information. Wait no more! Today we’re introducing Asymmetry’s first product (of two), but we’ll save the best for last, shall we?
Start here, and if you’re looking for finer details, check out our Whitepaper.
You may recall from our first article that ‘every worthy solution results from an equally worthy problem’.
Asymmetry is a direct solution to the scalability and centralization issues facing the Ethereum LSD market.
The Problem is a significant one, in short:
LSDs represent 1/3 of all staked Ethereum.
LSDs are an $16.2bn market.
Lido represents ~90% of the LSD market on Ethereum.
Asymmetry’s vision is not to directly challenge Lido or Rocketpool, they are successful products resulting from successful innovation, however, Lido themselves have admitted to the risk surrounding their colossal market share, and possible future consequences.
Substantial centralization not only inherently conflicts with the core fundamentals of DeFi, but also has potential knock-on effects for the entire ecosystem. Centralized custodianship of staked assets allows a single point of failure. If Lido were to be compromised or subject to regulation/sanctions as our market emerges and grows, the underlying staked assets are at risk. In combination with the size of the LSD market, this poses a significant risk.
Introducing safETH
Safe Asymmetry Finance Ethereum [pronounced safe-eth]
Asymmetry’s first product - Simplicity and efficiency.
The key difference? A decentralized basket of assets, with ZERO fees to the user, setting Asymmetry apart from all competing protocols.
In short:
Yielding up to an impressive 5.6% APY. (with Asymmetry’s flagship product yielding significantly more. TBA.)
The use of a decentralized basket of assets directly mitigates risks involved in the current top-heavy imbalance in the Ethereum LSD market, such as the central point of failure/depeg, and a singular dominant custodian, at risk of possible regulation/sanction.
Simplicity and accessibility in mind: Lowering the point of entry to all DeFi users.
Indexed products: History tells us that generally speaking, indexed products are consistently popular across markets due to their diversification by nature and reduced risk, particularly in the case of passive yield.
Asymmetry leading the Ethereum LSD market to achieve true decentralization.
What’s better? Our flagship product, afETH, arriving in the coming months.
Our flagship product will deliver market-leading yield, tried and tested.
We believe that the scalable and sustainable yield will speak for itself. Under wraps for now, thus we cannot share the mechanics at this stage. However, if you’re reading this, and at this early stage, you should be feeling #BullishAF.
We hope you are as excited as we are to finally unveil safETH and the AF Whitepaper!
We also appreciate your patience leading up to this point. Who knows, those early SafETH trailblazers might just find a little something extra waiting for them down the line…
Want to read in greater detail? Check out the Asymmetry Whitepaper!
Further info, coming soon.
Nice