According to BlockBeats, insiders have revealed that the co-founder of Lido and Paradigm are secretly funding a new company named Symbiotic. This company is set to compete in the re-staking race. It has been learned through internal documents that Symbiotic allows users to re-stake assets that are natively incompatible with the Eigen Layer using Lido's stETH.
Symbiotic has been developed by a staking service team formerly known as Stakemind. Several teams working in the emerging re-staking ecosystem have reportedly been discussing integration with Symbiotic, including AVSs and those building liquidity re-staking services on the Eigen Layer.
