Symbiotic｜An ETH L2 LRT Protocol Competing with EigenLayer
- Duration
- 2024/06/11 ~
- Task
- Supported Chains
- Category
Table of Contents
Project Details
Symbiotic is an LRT on Ethereum. Its main competitors include EigenLayer and Karak, but the difference is that with Symbiotic, collateral assets, rewards, operators, and slashing criteria can be changed by the network, stakers, and other agents. Also, because any asset based on the ERC-20 token standard can be deposited directly into the protocol, tokens that could not be deposited in existing LRTs may be supported.
Mellow Finance, officially supported by Lido, has adopted Symbiotic's LRT, and currently you can earn both MellowPoint and SymbioticPoint by staking on MellowFinance.
Funding Information
Symbiotic has received funding from cyberFund, led by the co-founder of Lido, and Paradigm, a well-known VC.
Airdrop Information Details
Details of the airdrop have not been released yet, but you can earn points.
Due to the existence of points and some referral links, it is expected that an airdrop using a point system will be conducted in the future.
Airdrop Procedure
Restaking on Symbiotic
- Access the website
- Select the token you want to restake
- Restake
- Check your points
Earn points with MellowFinance
- Access the website
- Select the curator to stake with
- Restake Please note that MellowFinance has a system where curators deploy to various AVSs and earn additional interest, which increases the risk.
Illustrated Procedure
Staking on Symbiotic
- Access the website
- Select the token you want to restake
- Restake
- Check your points
Earn points with MellowFinance
- Access the website
- Select a curator
- Restake
Disclaimer
- ・This article is created for informational purposes only and should not be used to solicit the sale, purchase, or underwriting of cryptocurrencies, securities, or other financial products, nor should it be considered an invitation to engage in such transactions, or constitute financial or investment advice.
- ・The information and opinions in this article are obtained from sources that we believe to be reliable, but we do not guarantee their accuracy, completeness, suitability, timeliness, or truthfulness.
- ・We, the authors, and all related parties are not responsible for any damage or loss caused by or related to the information published in this article. Cryptocurrencies involve hacking and other risks, so please conduct thorough research before using them.
Supervised by
Shingo Arai
CEO, Rokubunnoni Inc.
After completing a Master's degree in Management Engineering at Tokyo University of Science in 2013, Shingo Arai worked as an engineer, data scientist, and data analyst at multiple companies in the web, app, and advertising industries. He entered the cryptocurrency and blockchain space around 2017, founded Rokubunnoni Inc. in January 2018, and launched Crypto Times — a blockchain-focused media outlet — in February 2018. With approximately 9 years in the industry, his expertise spans DeFi, L1/L2 protocols, tokenomics, ZKP, and domestic/international regulatory trends. He actively conducts on-chain asset management and research. He has authored and supervised hundreds of articles, spoken at conferences in Japan and abroad, served as a DeFi investment seminar instructor, and operated KOL ambassador programs.
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