The project will distribute approximately 12% of its supply to early users.

Despite its interesting concept, the project is entering a crowded stablecoin market and will likely face challenges competing with industry giants such as USDT and USDC.

Quickly becoming a top contender, Symbiotic leverages Lido’s backing to position itself against EigenLayer in the restaking market.

A well-known Ethereum researcher becomes a new advisor to the EigenFoundation despite the possible conflict of interest. He will focus on the topic of a new crypto primitive, restaking, and its risks.

Supported by industry giants, Symbiotic aims to disrupt Eigenlayer's dominance by accepting a wide range of ERC-20 tokens for staking, unlike Eigenlayer’s ETH-only support.

The excitement surrounding the EigenLayer Stakedrop quickly turned to disappointment with the announcement of a minimal 15% token allocation and significant geographical restrictions.

The Ethereum restaking protocol has become the second-largest DeFi platform by TVL, while it migrates its operations to mainnet.

The consistent increase in staked volumes and other measures for reducing the circulating supply, combined with an intensive technical improvement roadmap, are pushing ETH in greens. Rumors about potential Ethereum Spot ETF add more to the optimism