{"id":14953,"date":"2024-07-04T12:15:29","date_gmt":"2024-07-04T09:15:29","guid":{"rendered":"https:\/\/forklog.com\/en\/symbiotics-tvl-surpasses-1-billion-challenging-eigenlayer\/"},"modified":"2024-07-04T12:15:29","modified_gmt":"2024-07-04T09:15:29","slug":"symbiotics-tvl-surpasses-1-billion-challenging-eigenlayer","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/symbiotics-tvl-surpasses-1-billion-challenging-eigenlayer\/","title":{"rendered":"Symbiotic&#8217;s TVL Surpasses $1 Billion, Challenging EigenLayer"},"content":{"rendered":"<p>The total value locked (TVL) in the liquid restaking protocol Symbiotic has exceeded $1 billion, according to <a href=\"https:\/\/defillama.com\/protocol\/symbiotic#information\">DeFi Llama<\/a>.<\/p>\n<p>The project team noted that the pool for Lido Finance&#8217;s wrapped ether stETH reached its limit of 210,600 wstETH (~$671,182 at the time of writing) within four hours.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">After 4 hours, Symbiotic&#8217;s 210,600 wstETH cap has been reached.<\/p>\n<p>Other assets can still be staked, and caps will be increased over time.<br \/>More assets will be added as we continue the initial scaling of the protocol.<\/p>\n<p>\u2014 Symbiotic (@symbioticfi) <a href=\"https:\/\/twitter.com\/symbioticfi\/status\/1808531705806090392?ref_src=twsrc%5Etfw\">July 3, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cOther assets can still be staked, and limits will be increased over time. Additional offerings will be added as the protocol scales,\u201d the statement said.\u00a0<\/p>\n<\/blockquote>\n<p>Symbiotic was launched in May. The project positions itself as a competitor to EigenLayer, also offering decentralized solutions collective protection through AVS \u2014 active validation services. Restakers have the opportunity to earn income by placing assets to support AVS operations.<\/p>\n<p>Symbiotic distinguishes itself from the first restaking protocol with a customizable modular architecture, support for multiple ERC-20 tokens, a flexible approach to collateral, and several other features.<\/p>\n<p>The TVL of EigenLayer, operational since January, exceeds $16.8 billion, yet Symbiotic has already secured the second position in the segment by this metric.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/German-Government-BKA-Google-Chrome-2.webp\" alt=\"German-Government-BKA-Google-Chrome-2\" class=\"wp-image-236286\"\/><figcaption class=\"wp-element-caption\">Symbiotic&#8217;s competitors. Data: DeFi Llama.<\/figcaption><\/figure>\n<p>Earlier reports revealed that Lido co-founders Konstantin Lomashuk and Vasiliy Shapovalov <a href=\"https:\/\/forklog.com\/en\/news\/lido-founders-secretly-back-eigenlayer-rival\">secretly participated<\/a> in financing Symbiotic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The total value locked (TVL) in the liquid restaking protocol Symbiotic has exceeded $1 billion, according to DeFi Llama. The project team noted that the pool for Lido Finance&#8217;s wrapped ether stETH reached its limit of 210,600 wstETH (~$671,182 at the time of writing) within four hours. After 4 hours, Symbiotic&#8217;s 210,600 wstETH cap has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1263],"class_list":["post-14953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-restaking"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14953"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14952"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}