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Yo, let's talk about Symbiotic
Symbiotic is a restacking protocol from Lido.
A direct competitor to Eigenlayer.
5.8M from Paradigm. But that's just the beginning.
They're giving away points
Drops could be by the end of summer.
There are partnerships with L0, Hyperlane, and Ethena.
Various assets will be used for restacking, as in Karak
Withdrawals are open
Right now it's best to log in via Mellow app.mellow.finance, the project is very similar to EtherFi, so being an early user can probably get you privileges
Mellow points:
If you cast into Mellow, before the Symbiotic pool stETH is filled, you will receive 1x Sym points and 1x Mel points
If you deposit into Mellow after the Symbiotic pool stETH is filled, you will only receive Mellow points, but with a multiplier of 1.5x.
As the limit will increase, your ETH will be put into Symbiotic immediately. 5 replies
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