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Klarkone🦊 pfp
Klarkone🦊
@wisdometh
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.
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Klarkone🦊 pfp
Klarkone🦊
@wisdometh
Withdrawals from Mellow A couple of important points about withdrawals and the LRT course Withdrawals are working. You need to wait 1-3 days. More often one day. After waiting, you need to hand brand wstETH for 90 days. When you remortgage ETH, it is automatically converted to wstETH. Since wstETH is much more expensive than ETH, there are fewer tokens displayed. Also LRT itself can be even more expensive. Hence the rate difference. When withdrawing, you also get wstETH. Mellow is NOT native restacking. And the Symbiotic (Sym) stETH pool is full. That said, Mellow still has limits in excess of Sym. In discord they write that points received from already closed stETH Symbiotic pool will be distributed to all Mellow depositors. And this is about 40% less, when Mellow is full, compared to direct deposit in Symbiotic. So at the moment it is more profitable to deposit to Sym directly. But I can't find the exact time of withdrawal from Sym yet. If you find one, write me and I'll edit the post.
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