According to PANews, Symbiotic has launched its development network on the Ethereum Holesky test network, and the mainnet will be released later in the third quarter. Symbiotic allows users to deposit funds to support third-party protocols through a shared security model, positioning itself as a competitor to EigenLayer, Ethereum's first re-staking protocol.
In addition to Ether and specific derivatives, it also supports a variety of ERC-20 tokens. The deployment includes the Symbiotic core contracts, including its vault and collateral system, which allows any asset to be re-collateralized to secure third-party protocols.