PANews June 11 news, according to CoinDesk, a new initiative of Lido DAO will enable Lido to launch "Restaking Vaults" in cooperation with Mellow Finance and Symbiotic. Mellow Finance is a platform that allows users to earn income by depositing re-pledged "vaults", and Symbiotic is a permissionless re-pledge protocol. Under this new initiative, traders will be able to use re-pledge tools, which can help Lido stETH regain market dominance.
Lido DAO officially supports Mellow Finance, a DeFi protocol that provides liquidity re-pledge “vaults”; Mellow Finance uses EigenLayer competitor Symbiotic to build its re-pledge vaults. Users can deposit assets such as stETH into vaults, and “curators” (similar to cryptocurrency underwriters) will deploy these assets to different active verification services or AVS (protocols secured by re-pledged assets) to help users earn additional interest on their funds. Lido Alliance members Steakhouse, P2P Validator, Re7 Labs, and MEV Capital will each launch vaults that accept stETH in conjunction with an announcement on Tuesday. For now, rewards for users depositing into Mellow vaults will come in the form of “points,” which may eventually be tied to future token airdrops.