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Author: lindabell Source: chainfeeds
Yesterday, Symbiotic, the re -pledged project, announced its official launch and completed the $ 5.8 million seed round financing led by Paradigm and Cyber Fund.According to the introduction, Symbiotic is a shared security agreement without permission.Shared Security refers to multiple networks that can share services and security guarantees of the same group of node operators, thereby improving capital efficiency and security.The concept has previously been applied in Eigenlayer’s pledge.
Although it belongs to the heavy pledge track as EIGENLAYER, unlike EIEGNLAYER, Symbiotic allows users to pledge to tokens a wider range, including ERC20 tokens, Ethereum verifier withdrawal vouchers, or proof of liquidity.In addition, Symbiotic provides more flexible component customization options.Although the core protocol section is defined by unsatisfactory core contracts, other components (such as pledge assets, reward mechanisms, and punishment standards, etc.) can be configured by the network or other agents as required.
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According to Coindesk reports, Lido Lianchuang Konstantin Lomashuk and Vasiliy Shapovalov and Paradigm were secretly funded by a new project similar to Eigenlayer in May this year. This project is Symbiotic.Interestingly, the report also mentioned that according to several people familiar with the matter, Paradigm has expressed his willingness to invest in Eigenlayer Sreram Kannan, but was rejected.Then Eigenlayer chose to raise 100 million US dollars of funds from the A16Z.In this regard, Paradigm said he would invest in Eigenlayer’s competitors.
Symbiotic architecture analysis: simple lightweight coordination layer
Symbiotic is designed as an extremely flexible, unparalleled and reliable Thin Coordination layer to simplify the system architecture and reduce operating costs, while ensuring that the network can efficiently handle transactions and execution protocols.According to the Symbiotic document, the Symbiotic network architecture is composed of five core components, and they cooperate with each other to maintain and improve the security and efficiency of decentralized networks.
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1) Collateral
Role: In the Symbiotic in SYMBIOTIC
Function: In the Symbiotic system, the tokens that users can pledge are a wider concept, covering various chain assets, such as ERC20 tokens, Ethereum verifier withdrawal vouchers, or proof of liquidity.Users can pledge these assets and convert them into specific pledged token. These tokens have expansion functions and can be used for punishment or compensation when necessary.
2) Valuts
Role: Coordination and management pledge and heavy pledge process
Function: The bridge used to connect to the owner of pledged assets and operating network infrastructure in the Symbiotic protocol.The pledged token converted by the user pledge will be stored in Vaults, and Vaults is responsible for entrusting these tokens to operators in the network to support network operation.In addition, because Vaults is configured, it can be deployed in various ways to meet different needs and security considerations.For example, the completely non-changing preset Vaults (Immutable Pre-configured Vaults) can provide services for those applications that require high stability and security, while multi-operator service curator Vaults (Curated Multi-Operator Vaults) can be concentrated in management.The funds and strategies of multiple operators provide customized services.
3) Operators
Role: Infrastructure provider in SYMBIOTIC ecosystem
Function:By obtaining pledged tokens from Vaults, Operators can ensure that we can obtain necessary economic support for network security and operations.Symbiotic created a registry to record and track the performance of Operators.It is worth noting that Operators can obtain economic support from multiple partners through Vaults without having to build or maintain independent infrastructure for each partner.In the future, Symbiotic also plans to introduce more verification and evaluation systems, so that Network can choose according to the reputation and historical performance of Operators.
4) Resolvers
Role: As an arbiter in an ecosystem, the economic punishment caused by the ruling and handling the evil behavior in the network can be a entity or a contract.
Function: Specific implementation methods are divided into two types, one is completely automated, suitable for those evil behaviors that can be clearly proved.The second is to adopt more complex forms, such as establishing a committee or introducing external dispute solutions.Vaults and Network can choose the suitable Resolvers type together.Vaults also has the right to formulate the specific terms of Resolvers who pledge tokens.In addition, Resolvers can also share across the network, allowing multiple networks to use the same Resolvers mechanism to deal with potential controversy.
5) Network
Role: Relying on decentralized infrastructure to provide various agreements or platforms for services
Function: Symbiotic allows these Network to obtain the required security guarantee in a flexible way, including operators’ technical services and economic support.These Networks can customize the strategy of recruiting and managing node operators through Symbiotic’s modular design and management node operators, VAULTS self -selected cooperation.In addition, the core contract provided by Symbiotic is open source and cannot be changed, ensuring the security and stability of network operation, and no need to worry about external governance risks.
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Overall, in the Symbiotic protocol, users will first convert their pledged assets into Collateral and be stored in Vaults. Vaults entrusts these tokens to Operaators based on the set strategies to provide the necessary economic resources for the operation of the network operation.EssenceOperators perform network tasks based on these strategies, such as data processing and transaction verification.At the same time, RESOLVERS plays a key arbitration role in the system and is responsible for dealing with any economic punishment issues that Operators may cause.As the final service provider, Network is responsible for defining and adjusting interactive rules with Vault and Operators, including how to accept pledge, how to allocate rewards and how to cope with punishment.
Symbiotic ecology
The Symbiotic system has high degree of flexibility and can provide support for projects at different stages of decentralization process.For example, the project can cooperate with existing operators at the beginning of the project to build a network of minimizing trust and decentralization.You can also expand the operator group in its existing ecosystem to increase the cost of attack to achieve alignment of the ecosystem.
At present, Symbiotic has established a partnership with 16 projects, including the USDE developer Ethena, the cross -chain application construction platform Hyperlane, the prediction machine network OJO, AIZEL, which is constructing a verified artificial intelligence network, and Cycle Network, the full -chain account account agreement,EssenceAmong them, Ethena is integrating the decentralized verification network (DVN) framework of Symbiotic and Layerzero to realize the cross -chain security of Ethena assets; the full -chain ledm protocol Cycle Network plans to use Symbiotic to provide motivation for its shared order;The modular Rollup framework product Rollkit is exploring the pledge of Symbiotic to its modular stack to promote the launching sovereignty Rollup on Celestia.
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Summarize
DEFILLAMA data shows that the EIGENLAYER lock volume has exceeded $ 18 billion, becoming the largest locking volume after Lido, and ranks first in heavy pledges. The remaining project lock volume has not exceeded 1 billion US dollars.These data show Eigenlayer’s leading position throughout the heavy pledge track.But the launch of Symbiotic may bring a new competition situation, especially it supports the use of Lido’s STETH and other assets that were originally incompatible with Eigenlayer, which may provide advantages for its competition with Eigenlayer on TVL.According to Symbiotic Twitter, the project reached the upper limit of 41,290 WSTTH within 5 hours.
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In addition, as a new project supported by Paradigm, Symbiotic has shown wider applicability in technical support and use cases.Paradigm wrote, “In the short term, Symbiotic is mainly used to launch new consensus examples, such as the election and decentralization of the new L1 operator. In the long run, Symbiotic will also support block production and multi -party calculations.” And Paradigm willRetH Execution Extensions (Exex) also developed to further enhance sharing security services based on Symbiotic.
However, EIGENLAYER has established a solid market position and ecological foundation in the field of heavy pledge. Whether Symbiotic can break EIGENLAEYR’s “unique” situation with its advantages, it remains to be observed.
