On May 15th, it was reported that the co-founder of the dominant liquid staking protocol Lido and the venture capital firm Paradigm are secretly helping to fund a new company called Symbiotic, which will compete in the "re-staking" field. The Symbiotic project aims to provide a way for decentralized applications to secure their "AVSs" by re-staking assets that have already been deposited with other crypto protocols, in order to receive rewards. The main difference between Symbiotic and EigenLayer is that users can directly deposit any assets based on the Ethereum ERC-20 standard, including Lido's staked ETH (stETH) tokens. Sources say that the liquidity re-staking protocol Renzo is already discussing integration with Symbiotic after its launch. It is expected that the Symbiotic platform will be released in some form by the end of this year.