According to Wu, the restaking project Symbiotic has officially launched and announced that it has completed a $5.8 million seed round of financing, led by Paradigm and Cyber Fund. Symbiotic is a shared security protocol that acts as a thin coordination layer, enabling network builders to control and adjust their own restaking implementation without permission. Earlier in May, Lido co-founder and Paradigm were secretly funding a new company, Symbiotic, which would compete in the restaking track.
