Symphony MLD

Symphony is a chain able to create and peg to tokenized real-world assets. This includes stablecoins, real-estate, commodities, etc. The reason this is important is because centralized trade is not censorship resistant. It can be controlled, and those that don't want to be controlled need a way to interact without having to rely on trust in some centralized body. An example of the prospective use case, what BRICS is doing to separate from the USA. An example of the abuse by a centralized body would be the commodities exchange that refused to honor the futures contracts for Nickel. The court case for this sided with the exchange that had false contracts because "honoring the contract could endanger the economy". Symphony's ability to peg assets creates an avenue for these trade mediums to operate in a trust-less manner, so that any and all users can trade properly. How is that peg maintained? By a dual-elasticity structure, which allows for expansion and contraction in response to the market, but also prevents inflation. This system consistently re-balances supply against market demand to ensure maintenance of the peg while keeping 2:1 reserves at minimum. That 2:1 is a minimum because the reserve acts as a temporary store to remove coins from circulation, decreasing supply relative to the amount of assets placed on the chain. Vitalik Buterin, the founder of Ethereum, said in 2023 that any stablecoin needed to be able to spin down to zero. This includes with use of staking of all on-chain tokens, whether the native coin or these tokenized assets. Symphony has been tested against large drops to ensure it can spin down to zero properly in all scenarios. It has just launched the testnet and is preparing for IDO.