Ethereum: The TVL of the Symbiotic restaking protocol exceeds $1 billion
The Symbiotic protocol differs from its direct competitor, EigenLayer, by an important feature: it also allows you to support some ERC-20 tokens in a personalized and modular way, while EigenLayer remains more exclusively focused on Ethereum.
Symbiotic recently announced that it has reached its deposit limit set at 210,600 wstETH, which allows it to display a TVL (Total Value Locked) now greater than $1 billion, according to data from the DefiLlama website.
The deposit limit for Symbiotic will be increased over time, and other assets will be added as the protocol develops.
However, despite this success, Symbiotic does not yet compete with the undisputed leader, EigenLayer, which recently boosted its position with the launch of its eigen token airdrop. It remains to be seen if Symbiotic will follow a similar path in the future.
The Symbiotic protocol differs from its direct competitor, EigenLayer, by an important feature: it also allows you to support some ERC-20 tokens in a personalized and modular way, while EigenLayer remains more exclusively focused on Ethereum.
Symbiotic recently announced that it has reached its deposit limit set at 210,600 wstETH, which allows it to display a TVL (Total Value Locked) now greater than $1 billion, according to data from the DefiLlama website.
The deposit limit for Symbiotic will be increased over time, and other assets will be added as the protocol develops.
However, despite this success, Symbiotic does not yet compete with the undisputed leader, EigenLayer, which recently boosted its position with the launch of its eigen token airdrop. It remains to be seen if Symbiotic will follow a similar path in the future.
5 months ago
