Symbiotic (Symbiotic Point) ICO Details & Financial Information

The Symbiotic restaking protocol implements a point reward system, similar to the Karak network or LRT protocols like Swell Network, Renzo, and others, granting users Symbiotic points for contributing funds to the platform.

Although it is a permissionless and asset-agnostic protocol, currently it supports only a few Ethereum LSTs, the staked stablecoin sUSDe, and Ethena's governance token $ENA, while the amount of funds that can be restaked on the platform is limited. Considering this information, the CoinLaunch team has determined the following restaking routes to be the most effective ones:

• Ethereum restaking routes:

As of July 22, 2024, the Symbiotic protocol supports deposits in wstETH, cbETH, wBETH, rETH, mETH, ETHx, sfrxETH, and swETH. Since all of these except Swell Network have already conducted airdrops for their users or won't release their tokens in the near future, we suggest targeting Swell Network. This way will start receiving 1x Swell Pearls + 1x Symbiotic points + $swETH APR.

• Ethena sUSDe and $ENA pool:

Beyond Ethereum LSTs, you can also restake Ethena’s two products:

• Staked stablecoin $sUSDe in order to start earning $sUSDe APR + 10 Sats per $sUSDe daily + 1x Symbiotic points;
• Governance token $ENA to start receiving 30x Sats per $ENA daily + 1x Symbiotic points.