▫️Sympie (Symbiotic)
Last updated
Last updated
Symbiotic, with $1 billion in TVL, serves as an infrastructure aimed at boosting security and efficiency in the crypto world. It employs the concept of "Restaking," enabling users to utilize their assets multiple times. This can be seen as reusing tokens to enhance security and earn extra rewards. Users can take advantage of Symbiotic's technology to "restake," meaning their assets will help secure additional applications and, in return, generate rewards.
ETH, the native currency of the Ethereum blockchain, is used to validate and secure the network and can be restaked through Symbiotic. Additionally, other assets like stablecoins and LP tokens can be deposited into Symbiotic for restaking.
Sympie offers DeFi participants the opportunity to increase their rewards and flexibility through liquid restaking. By depositing their assets on Sympie, users can validate new services within the Symbiotic shared security framework and, in return, receive LRTs.
LRTs on Sympie are liquid restaked versions of the deposited assets, allowing users to access new yield opportunities in DeFi while their underlying tokens continue to generate rewards, all without a required lock-up period. The LRTs issued by Sympie are also tradable and transferable.
