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Symbiotic airdrop

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Symbiotic, the permissionless shared security protocol for decentralized networks, is offering early adopters the chance to earn Symbiotic points with its innovative restaking system. These points allow restakers to be eligible for potential retroactive airdrop rewards after the Token Generation Event (TGE), while also providing flexible and capital-efficient restaking rewards. 💰💸

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About Symbiotic

Symbiotic empowers network builders to customize and adjust their own restaking setups with ease, thanks to its modular approach. Networks have full control over collateral assets, node operator selection, rewards, and slashing mechanisms. By using non-upgradeable core contracts on Ethereum, the protocol eliminates external governance risks and potential single points of failure, reducing overall risks. With its capital-efficient design and evolving operator-centric reputation system, Symbiotic ensures scalable economic security for networks. The project has secured a $5.8 million seed funding round from crypto-native investors Paradigm and cyber•Fund, who both share a commitment to an open, permissionless restaking economy.

Step-by-step guide

Visit the Symbiotic.fi app and connect your wallet to start staking. Review the list of available collaterals and choose from options like wstETH, wBETH, sUSDe, rETH, cbETH, and ENA based on your strategy. Approve the asset transfer from your wallet and confirm the deposit to start earning Symbiotic points immediately. Monitor your points and earnings through the app interface for real-time updates. Note: Ethena uses Symbiotic’s restaking framework with LayerZero’s Decentralized Verifier Network (DVN) to secure cross-chain transfers of assets like $USDe and $sUSDe, and restaked $ENA provides economic security for these transfers.

Disclaimer: This content is for educational and informational purposes only and does not constitute financial advice. Conduct thorough research before making any deposit/investment decisions (DYOR).

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