Lido co-founders and Paradigm are secretly funding a new project in the restaking space called Symbiotic

ChainCatcher news, according to CoinDesk, informed sources revealed that Lido co-founder and Paradigm are secretly funding a new company called Symbiotic, which will compete in the restaking space.

It is reported that in internal Symbiotic documents obtained by CoinDesk, Symbiotic allows users to restake Lido's stETH with other assets that are natively incompatible with Eigen Layer; Symbiotic is developed by the staking service team formerly known as Stakemind; several teams working in the emerging restaking ecosystem have stated that they are already in discussions to integrate with Symbiotic, including AVSs and liquidity restaking services built on Eigen Layer.