We are thrilled to announce that Symphony DEX is now live as a Gnosis Safe App.
This integration would provide exceptional capital-efficient trading and secure treasury management in a simple way for the DAOs & Multisigs that are a part of the Safe ecosystem 🔒
Every Gnosis safe user can use Symphony DEX directly from the Gnosis interface.
Let’s get into the use case more deeply!
What is Gnosis and What does it offer?
Gnosis Safe is most commonly used by DAOs & Multisigs to manage their treasuries and keep their funds secure without any single points of failure.
You can completely personalize how your company’s or DAOs crypto assets are managed, with the option of requiring a set amount of signatures to approve transactions.
To prevent unauthorized access to the treasury wallet, it requires multiple team members to sign each transaction before it can be executed on-chain.
In a way, Gnosis Safe streamlines the way how multi-sig transfers or swaps are done.
Gnosis x Symphony Integration
We believe that security should be the number one priority moving ahead in the Web3 world, and Gnosis safe simply would be the go-to wallet for institutions, DAOs, and individuals.
The above picture summarizes how a group or individual can use Symphony DEX to multi-task their way in the DeFi world.
To put it simply, instead of holding the treasury funds in multiple places and earning the yield, the DAOs & multisigs can hedge the volatility risk with Symphony DEX. This makes sure the funds are safe all the time, collecting yield in the safest way possible.
Benefits of Gnosis Integration
With this Gnosis integration with Symphony DEX, individuals and communities can have:
- Capital Efficiency — This integration allows users to earn a safer yield on their portfolios. In the context of a DAO, this yield can also be thought of as interest generated by Protocol Controlled Value (PCV).
- Risk Management — Users can hedge volatility risk associated with their portfolios using stop-loss trades.
- Active Portfolio Management — Users with a higher risk appetite can also use this integration to earn higher returns by trading actively. DAOs can also actively manage their funds with this integration.
About Gnosis Safe
Gnosis Safe is the safety standard of Web3 and the most trusted platform to manage digital assets for individuals and institutions.
It is a programmable account that enables users to control their digital assets with much more granular permissions.
Symphony DEX is a novel yield-optimized trading protocol, the first of its kind!
It allows you to buy or sell tokens more capital efficiently than ever. Your trades keep earning yield on safe protocols till they execute 🤯
Wanna read more about it? https://app.symphony.finance/about
Have you tried out our dapp yet? If you haven’t, head over to https://app.symphony.finance
We also invite you over to our discord server, come and be a part of the exciting future that we are building — Discord
Also, check out our Twitter and give a follow if you haven’t yet — Twitter
And lastly, please share this with your crypto bros and hoes. We’re really excited to help empower the whole Web3 on a huge scale.
That’s it for now, I will be back with another article soon. Take care till then!