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Symbiotic Crypto Protocol
Airdrop (Retrodrop)
Active
12 Jun 2024 - 01 Jan 2025
Symbiotic protocol is an asset-agnostic restaking platform that enables users to restake their assets and power the platform's security layer for additional APR, while allowing developers to implement this security power into their own blockchain networks. Although there's no information on the Symbiotic token yet, it is most likely that the token will power the governance layer of the protocol.
Recently, Symbiotic crypto protocol has added a points tracker to its dashboard, which users can acquire by restaking assets on the platform. We assume this will be the main criteria to qualify for an airdrop. Hence, our team has decided to write a guide on how to join the Symbiotic airdrop.
CoinLaunch Score:
Last update:
High
23 Jul 2024
Symbiotic Crypto Protocol - Airdrop (Retrodrop) Overview
start date:
12 Jun 2024
end date:
01 Jan 2025
Reward Distribution:
TBA
More about Symbiotic Crypto Protocol
Reward
N/A
Winners:
N/A
How to join Symbiotic Crypto Protocol - Airdrop (Retrodrop)?
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.
If you would like to learn more about Ethena, check out our project review here.
Good Luck!🍀
Step-by-step Guide
Acquire any of supported by Symbiotic assets in your wallet on Ethereum chain network;
Choose a restaking pool you want to deposit funds into;
If the staking limit has been reached, wait until the caps are raised;
If a pool is still available for contributing funds, enter the amount you want to deposit and confirm the transaction;
Earn Symbiotic points and wait for the official airdrop announcement on the project's Twitter.
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