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Max
@ps-max
## Symbiotic - a new competitor to Eigenlayer⭐️ Symbiotic is a restaking protocol from the Lido team, similar in functionality to Eigenlayer.
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Max
@ps-max
On May 11, the project received $5.8m in investment from Paradigm. However, this is just the initial investment, as there were reports that Paradigm did not invest in Eigenlayer and decided to incubate its own competitor in order not to miss out on the restaking narrative.
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Max
@ps-max
The project is being followed on Twitter by Paradigm, Pantera, Coinbase, Polychain, Dragonfly and others. Among the partnerships already confirmed are Ethena, LayerZero, Hyperlane and others.
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Max
@ps-max
➡️ Yesterday, the first opportunity to restake ETH opened up. ⚠️ The pools are already full and you need to wait for a new epoch, I think it will be soon.
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Max
@ps-max
I'm waiting for when it will be possible to deposit LRT wrappers or restake protocols. For now, there is the first restaking protocol - Mellow. But there are some peculiarities, which I will tell you about later. **#Symbiotic #Lido #Eigenlayer #Restaking #DeFi**
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Max
@ps-max
What do you think about the new project? 🤔🤔🤔
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