Lido co-founders Konstantin Lomashuk and Vasiliy Shapovalov, along with Paradigm, are secretly funding a new company called Symbiotic, which will compete with EigenLayer in the restaking track. Symbiotic will allow users to deposit any asset based on the ERC-20 token standard. This move comes as Lido faces growing competition from liquid restaking protocols and aims to regain market share. A proposal has also been made to establish the Lido Alliance, an Ethereum-aligned ecosystem built around stETH, to endorse new restaking protocols.
The co-founders of @LidoFinance are secretly funding a competitor to @eigenlayer. According to several people with knowledge of the matter, the project is called Symbiotic and has drawn backing from not only the Lido co-founders, Konstantin Lomashuk and Vasiliy Shapovalov,… https://t.co/l12pbD5tDB
UPDATE: LIDO CO-FOUNDERS AND PARADIGM ARE SECRETLY FUNDING NEW COMPANY SYMBIOTIC TO COMPETE WITH EIGENLAYER IN RESTAKING TRACK - REPORT
UPDATE: LIDO CO-FOUNDERS AND PARADIGM SECRETLY FUND NEW COMPANY SYMBIOTIC TO COMPETE WITH EIGENLAYER IN RESTAKING TRACK - REPORT
Restaking space off to an arm race. Can see Lido being integrated into Symbiotic and stert regaining its market share. https://t.co/5sVVvvmT8w
According to CoinDesk, Lido co-founders and Paradigm are secretly funding a new company, Symbiotic, that will compete with EigenLayer in the restaking track. Users will be able to deposit any asset based on the ERC-20 token. EigenLayer chose a16z over Paradigm, and Paradigm said…
SCOOP: Lido's co-founders and @Paradigm secretly funded a restaking startup that will compete with @EigenLayer. @skesslr reports https://t.co/7BENBrdkhW
💥Liquid restaking is eating stETH's lunch, but Lido plans to hit back A new proposal aims to establish the Lido Alliance to endorse new restaking protocols built around stETH Do you think a restaking alliance can stem Lido's recent outflows in the face of growing LRT adoption?
A proposal for Lido Alliance: an Ethereum-aligned ecosystem built around stETH. https://t.co/i7CqUqtoSF 👇 https://t.co/RYuHGQKJto
Interesting discussions on the @LidoFinance forum of late: - @hasufl’s thoughts on strategy update in light of restaking and MVI. TLDR - stay focused on being an LST, make stETH more widely used collateral with LRTs and explore Ethereum native validator services like…
This conversation between @JasonYanowitz @bcmakes @MylesOneil and @WestieCapital is the best restaking podcast on the market * Basics, benefits and risks of restaking * LRTs vs LSTs * LRTs from first principles * Does EigenLayer TVL have a math problem? Required listening. https://t.co/0PvK2kJdD3