đĄWhat is Symbiotic? Symbiotic staking protocol
âïžSymbiotic is a restaking project, allowing investors to restake all ERC-20 tokens such as ETH, stETH, UNI, LINK... instead of only supporting ETH and LST like EigenLayer, helping to increase capital flow into the protocol.Â
đŻMany analysts believe that the potential of the restaking field prompted Lido and Paradigm to decide to back Symbiotic to directly compete with EigenLayer. The platform successfully raised 5.8 million USD.
đšSymbiotic develops the ecosystem with many outstanding projects such as Ethena, etherfi, Hyperlane, Marlin's Kalypso... Symbiotic allows users to deposit money from June 11. In less than 24 hours, the project earned more than 225 million USD TVL. Currently, all pools have been 100% restored.
đłCharacteristics of Symbiotic
âOpen mechanism, building an economic security system through an asset base and scalable structure.Â
âModular: Symbiotic has a minimalist orchestration layer, capable of connecting seamlessly into current and future network structures.Â
âNo licensing required, eliminating many administrative risks, system errors at the execution layer and third-party intervention.
âFlexibility to enter or withdraw from a shared confidentiality agreement coordinated by Symbiotic.
đSymbiotic aims to make the ecosystem a "friendly home" for developers to build independent, trust-minimized dApps and infrastructure.