ATTENTION: new restaking protocol 💥

A new player on the radar among restaking competitors backed by Paradigm and LidoFinance.

Explore the details in this thread 🧵

Professional trader since 2017 | Writer threads | Airdrop hunter | Alpha and DeFi researcher 🥷🏼

2. https://x.com/symbioticfi

Symbiotic is a shared security protocol that serves as a thin coordination layer, empowering network builders to control and adapt their own restaking implementation in a permissionless manner.

3. The protocol’s flexible and credibly neutral design brings unique benefits to network participants:

1️⃣ Flexibility through modularity
2️⃣ Risk minimization through immutability
3️⃣ Capital efficiency through restaked collateral and reputation-based curation

4. Symbiotic raised a seed round investment of $5.8M 💰

And it was led by venture capital funds Paradigm and CyberFund

4. Symbiotic raised a seed round investment of $5.8M 💰

And it was led by venture capital funds Paradigm and CyberFund

https://x.com/symbioticfi/status/1800530056500117824

5. The protocol also has partners among other large and respected crypto projects that participated in the launch of Symbiotic 👇

6. So, now let's talk about Symbiotic airdrop.

Symbiotic now has an active system of points that you earn for holding your assets in pools.

A similar system was previously in the Eigenlayer project.

7. How does it work? 🤔

• Go to app.symbiotic.fi/restake
• Connect your wallet on the Ethereum chain
• Prepare assets for the appropriate pool
• Make a deposit into a pool that has space in it
• In the Dashboard, keep track of your points

8. Note that pools have limits, meaning that some of them are already full and you won't be able to deposit your assets ⛔️

But right now, there's still plenty of room in some of them, so you should be able to make it.

Also, pools are sometimes expanded.

9. Personally, I deposited rETH in Rocket Pool Ether, there's still plenty of room in it.

rETH you can swap to the links below 👇

- https://app.uniswap.org/swap
- https://swap.defillama.com/

Address rETH: 0x03bf48b8a1b37fbead1ecabcf15b98b924ffa5ac

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