Insider: Lido and Paradigm are investing in Symbiotic, a re-staking project

Odaily News According to people familiar with the matter, the re-staking project Symbiotic has received support not only from Cyber ​​Fund, a venture capital firm owned by Lido co-founders Konstantin Lomashuk and Vasiliy Shapovalov, but also from venture capital firm Paradigm. According to internal Symbiotic documents obtained by CoinDesk, users are allowed to use Lido's stETH to re-stake with other assets that are not natively compatible with EigenLayer. Developed by the staking service team formerly known as Stakemind, Symbiotic will be "a permissionless re-staking protocol that provides a flexible mechanism for decentralized networks to coordinate node operators and economic security providers." Several teams working in the emerging re-staking ecosystem have said they have discussed integration with Symbiotic, including AVSs and building liquidity re-staking services on Eigen Layer. Representatives of Paradigm, Symbiotic and Cyber ​​Fund declined to comment on the matter. (CoinDesk)