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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
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.
