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 🥷🏼

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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

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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If you enjoyed the thread:  

• Follow me @investzonaa
• Save it to your bookmarks 
• Like/Comment/Retweet the first tweet👇

https://warpcast.com/investzonaa/0x3943edd3

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