Symbiotic

Symbiotic is a permissionless and modular restaking infrastructure protocol that enables users to earn yields from actively validating Ethereum-based services. The protocol serves as a coordination layer that enables developers to control aspects like collateral assets, node operator selection, rewards, and slashing mechanisms for services built on top of it. Moreover, it provides multi-asset and network-agnostic design that supports any token based on the ERC-20 token standard (including liquid staking tokens). 

Users can restake their tokens on the protocol and actively validate a range of services such as appchains, roll-ups, bridges, exchanges, and pricing oracles. As of June 2024, the protocol had secured over USD 240 million in total value locked (TVL). 

Funding and financials

In June 2024, Symbiotic emerged from stealth, raising USD 5.8 million in seed funding from Paradigm and Cyber Fund, an investment firm backed by the co-founders of Lido.