Symbiotic｜An ETH L2 LRT Protocol Competing with EigenLayer

Duration

2024/06/11 ~

Task

Supported Chains

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

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