Find out more about Symbiotic unique design and benefits it brings to network participants below.
Delegating step-by-step
Since August 12, 2024, Symbiotic has been in its devnet stage, giving builders and networks the tools to test the integration of restaking into their stack with Symbiotic's feature-complete testing environment.
On this stage, delegation and rewards are not available.
Despite this, restaking is available, but, currently, restake caps across all assets are filled. Click NOTIFY ME button above to discover the first when the caps will be raised. Early restaking aims to scale Symbiotic’s, as well as may bring potential future opportunities to early supporters. Find out more in the FAQ section.
About Symbiotic
Decentralized networks require coordination mechanisms to incentivize and ensure infrastructure operators adhere to protocol rules. A novel concept of shared security protocols allows the networks to utilize the security of existing ecosystems and the operators' set without a need to spend additional resources on creating both from scratch.
Symbiotic, as a permissionless shared security protocol, enables effective decentralization and alignment design for any network. Its neutral coordination framework introduces innovative primitives for modular scaling, empowering network builders to control and adapt their own re/staking implementation in a permissionless manner.
By setting a new standard for openness and neutrality, Symbiotic removed a major roadblock for builders, who can now create the protocols originally promised with shared security with real shared security, including collateral availability, complex slashing and reward mechanisms.
Restake, represented within the Collateral component, enables additional capital efficiency and scale by having assets used to secure Symbiotic networks held outside of the Symbiotic protocol itself. Find out more about other components and what can be restaked within Symbiotic in the FAQ below.
With this devnet release, Symbiotic is one step closer to its full mainnet rollout later in Q3 2024, pending independent full-scope audits from industry-leading security firms.
Everstake participation
Everstake was selected in Symbiotic Cohort 0, the initial operator working group supporting the global decentralization of Symbiotic networks. We are happy to power Symbiotic on its path to the mainnet, providing reliable infrastructure and sharing our expertise within the restaking ecosystem.
We are proud to join a group of 40 professional node operators with years of experience, billions of assets in staking, and a proven track record in the blockchain space.
Interested in restaking and delegating more than $500k of ETH or ERC-20 tokens equivalent?
Everstake is happy to discuss special staking conditions and services we provide for institutions and large investors. Please contact [email protected] or book a slot for any additional details.
faq
What is Symbiotic?
+Symbiotic is a shared security protocol that serves as a coordination layer, empowering the network to control and adapt their own re/staking implementation in a permissionless manner utilizing Symbiotic design, available operators and restaked assets.
Symbiotic was designed from the ground up to be an immutable and modular primitive, focused on minimal friction and flexibility, allowing participants to maintain full sovereignty.
Which stage is Symbiotic in?
+Currently Symbiotic is live on the devnet.
The mainnet is planned for Q3 2024, following the completion of five audits from the 3rd-party teams.
What is restaking?
+Restaking is the functionality that enables users to reuse their staked assets (ETH, ERC-20 tokens, withdrawal credentials of Ethereum validators, other on-chain assets, such as LP positions, etc.) to secure other networks.
For network builders, it provides access to capital and the operator set without the need to spend additional resources on creating both from scratch.
Is restaking currently available on Symbiotic?
+Restaking is available through the Symbiotic app, but, currently, restake caps across are full.
Why should I consider restaking at Symbiotic before the mainnet launch?
+Early deposits aim to scale Symbiotic’s shared security platform. However, the Symbiotic team wisely capped re/stakeable assets in size during the initial stages of the rollout and will be limited to major token ecosystems, reflecting current market conditions in the interest of preserving neutrality and ensuring sustainable growth.
As well this may bring potential future opportunities to early supporters.
During the next stages, new collateral assets should be added according to the broader ecosystem interest demand.
How does Symbiotic protocol design stand out across the evolving restaking landscape?
+Symbiotic brings a range of benefits to powered networks, making it an appealing solution for building:
- More flexibility through modularity, as soon as networks control all aspects of their (re)staking implementation, including assets supported, their ratios and caps, node operator selection, rewards, slashing and associated mechanisms.
- Immutability that minimizes risks, as non-upgradeable core contracts remove external governance risks and single points of failure, while minimal flexible contract design minimizes Execution Layer risks.
- Enhanced capital efficiency. A permissionless, multi-asset, and network-agnostic design enables scalable and capital-efficient sourcing of economic security.
What are the components of the Symbiotic protocol and why are they important?
+Symbiotic consists of 5 interconnected components, that define its unique design and encompass many different actors.
Find a detailed explanation of each component below.
What is the Collateral?
+Collateral is Symbiotic's economic security layer. It is an abstraction used to represent underlying on-chain assets, which are both chain- and asset-agnostic. This means they can be in the form of ERC-20 tokens, withdrawal credentials of Ethereum validators, or other on-chain assets, such as LP positions, without limitations regarding which blockchains the positions are held on.
Symbiotic achieves this by separating the ability to slash assets from the underlying asset itself, similar to how liquid staking tokens (LST) create tokenized representations of underlying staked positions. Imagine collateral positions in Symbiotic as ERC-20 tokens with extended functionality to handle slashing incidents if applicable.
Symbiotic allows to deposit of collateral tokens into the vaults, which delegate them to operators across Symbiotic networks.
Tell me more about the Vaults.
+Vaults are the delegation and restaking management layer of Symbiotic. They handle the delegation of collateral to operators across networks, as well as enable three crucial parts of the Symbiotic economy:
- Accounting by handling deposits, withdrawals, and slashings of collaterals and in turn their underlying assets.
- Delegation strategies by defining delegation and restaking strategies to operators across Symbiotic networks, which networks have to opt into.
- Rewards by distributing staking rewards from networks to collateral depositors.
Operators and services such as liquid re/staking protocols (LRT) can create vaults to differentiate their offerings.
What are the role of the Operators?
+In a nutshell, they are the infrastructure layer of Symbiotic.
Operators are entities that run the infrastructure for networks. They can opt in to networks and receive economic security from restakers through vaults.
What are the Networks?
+Networks, or the service layer in Symbiotic, are a general definition of any protocol that requires a distributed set of node operators that will provide validation services and ensure the network's smooth operations. In some cases, protocols may consist of multiple sub-networks with different infrastructure roles.
These decentralized networks can utilize Symbiotic to flexibly source security in the form of the operator set and economic collateral.
Network builders can define, control, and adapt their methodology for onboarding, incentivizing, and penalizing operators and their delegators (restakers).
What the Resolvers are for?
+Symbiotic supports various modes of handling slashing incidents through the introduction of resolvers. Resolvers, in the form of entities or contracts, can pass or veto slashing penalties incurred by operators. They are agreed upon by vaults — representing providers of economic security, stakers, — and the networks they provide security for.
What is Everstake’s role in Symbiotic?
+Everstake is a seasoned validator across 70+ blockchains. Thus, once Symbiotic mainnet is deployed, we will serve as the Operator within Symbiotic app. Within our role, we will run the infrastructure for networks, as well as create the vault with collateral restaked from the delegators.
Everstake professionalism, experience, and track record of reliable operation allowed us to become one of only 40 Cohort 0 participants.
