What is Summa?
Synthetic asset marketplace where tokens tracking the performance of any asset can be created, listed and traded; from BTC and other cryptocurrencies, to fiat currencies, to stocks and securities, real estate, commodities, and any basket of any of the assets mentioned above.
How does it work?
Summa utilizes a blind auction bidding mechanism in its dark pool exchange, and incentives participants to bid according to their true price valuation, and periodically matching the closest buy and sell prices at the midpoint execution price.
- Full decentralization
- No over-capitalization
- Autonomous, deterministic price discovery
- Universal solution for any asset or basket of assets
Summa is a non-custodial, decentralized, midpoint price matching, dark pool asset exchange.
Problems with current models
- External third party dependencies to establish current tradeable prices.
- Excessive capital deposits
- Complex trade conflict resolution
- Artificial incentives to entice market makers to Provide liquidity to these DEXs
HFT programming job quit
Proof of Concept
Experimental trading pairs
Traditional assets (commodities) test pairs
Commodities live pairs
Traditional Equity test pairs
Frequently Asked Question
What is Summa index?
Generated price used as a midpoint execution cycle for that period. All orders submitted for execution in that execution cycle will be matched using that price. The collection of midpoint execution prices for all Summa asset pools with valid bids and offers will be published as Summa Indices which can be accessed publicly through a web UI, or programmatically through Summa API’s.
Tell me about Market Marker's incentives
To incentive MM participation in these pools, Summa protocol will pay all MMs participating in each midpoint execution cycle an incentive fee:
- Each midpoint execution cycle will distribute a preset amount of SUM tokens
- Tokens will be distributed based on the total weighted amount of liquidity provided by each MM
- If no MMs participated in one midpoint execution cycle, the incentive fees will accumulate and the next midpoint execution cycle will have double the amount of incentive fees to be distributed
- If the second midpoint execution cycle had no prices from market makers, the next cycle will see triple the amount of fees, and so on, until the market maker provides liquidity to one of the subsequent cycles.
What is the token's utility?
At the consensus level:
- SUM will be required for staking on the Summa blockchain and maintaining eligibility for a validator;
- SUM will be paid out to validators for verifying and forging new blocks;
At the protocol level
- Customers that pay with SUM tokens will enjoy a preset percentage discount (initially set to 50%) on transaction f
- MM incentives will be paid in SUM; In addition to the incentives received from the protocol, MMs will receive a portion of the transaction fee paid by the market ta
- SUM is the governance token of the protocol and will allow holders to vote on proposals involving future developments, rate adjustments, and other is
- SUM tokens can be used to post collateral
What is the total supply?
20.000.000.000 SUM tokens