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VisitSymbiotic Launches Flexible Restaking Protocol with $5.8M Funding from Paradigm and CyberFund
Jun 11, 2024, 02:22 PM
Symbiotic has launched a new permissionless and flexible restaking protocol, aimed at providing network builders with maximal flexibility and control. The protocol has raised $5.8 million in seed investments from venture firms Paradigm and CyberFund. Symbiotic is positioned as a competitor to Eigenlayer. Several partnerships have been announced, including with DOPP to decentralize their oracle network, and with StakeCapital to integrate the protocol across their projects. Additionally, the release includes Reth Execution Extensions.
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Markets
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Official announcements from Paradigm and Symbiotic
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Official announcements from Symbiotic and the partnering blockchain project
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Public blockchain explorers and Symbiotic's official announcements
Lido • 25%
Ankr • 25%
Eigenlayer • 25%
Rocket Pool • 25%
Public blockchain explorers and analytics platforms
Oracle network decentralization (DOPP) • 33%
Reth Execution Extensions • 34%
StakeCapital integration • 33%
Official announcements and reports from Symbiotic and its partners
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Top 5 • 33%
Top 10 • 33%
Public blockchain explorers and analytics platforms