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Restake your ETH through Symbiotic powered by Kiln
Symbiotic
What is Symbiotic?
Symbiotic is a restaking protocol that enables users to enhance blockchain network security and capital efficiency by enabling using existing economic security, such as Ethereum Liquid Staking Tokens (LSTs) and ERC-20 tokens, to secure additional networks.
Symbiotic is a coordination layer that lets networks customize their staking mechanisms while sharing security resources. This approach is designed to support the scalability and robustness of the broader Web3 ecosystem.
What is restaking?
Proof-of-Stake (PoS) protocols use staking to achieve consensus. By locking native tokens into a validator, you earn the right to secure a chain and earn rewards on your stake. Staking has overtaken mining and is used far more often.
With restaking, stakers who have already committed their ETH or other assets as collateral in the Ethereum PoS mechanism can rehypothecate ("restake") this collateral to participate in additional validation activities in the Symbiotic network without having to commit additional capital.
Assets that are deposited into Symbiotic are rehypothecated for various purposes on Symbiotic, such as securing additional networks that can be layer-2 protocols or dApps built on top of Symbiotic.
By doing so, restaking enhances the utility and efficiency of the staked assets, providing more opportunities for reward and participation in the broader public blockchain ecosystem without compromising the security of the Ethereum blockchain.
Why should you restake your assets?
Staking is one of the safest and most predictable ways to get rewarded in the crypto space as the value originates from the blockchain’s native currency inflation, and a share of transaction fees. By helping securing the network, stakers benefit from staking rewards.
Restaking allows using this existing stake to contribute to securing additional services on Symbiotic. By doing so, stakers benefit from additional restaking rewards on top of their existing staking rewards.
You can restake your ETH to:
- 1Improve the capital efficiency of your staked assets
- 2Secure additional networks through Symbiotic
- 3Diversify and benefit from additional rewards
What are the rewards associated with restaking?
Restaking rewards rates are defined by each network on Symbiotic, meaning validators will earn different restaking rewards based on the networks they opt-in securing.
Before Symbiotic and networks fully launch, restakers are assigned points which represent their individual contributions to the Symbiotic ecosystem security and are proportional to the time and amount of assets restaked.
Why should you restake with Kiln?
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake on all major networks and to whitelabel staking functionality into their offering. Our platform is API-first and enables fully automated validators, rewards, data and commission management.
We are serving thousands of businesses worldwide so that everyone can securely and seamlessly. Our clients can stake their tokens from our dashboard, a hardware wallet, a browser wallet, a B2B custodian, a crypto exchange or just their favorite investment app. Kiln makes Symbiotic restaking easy, secure, and accessible to everyone.
- Kiln is part of Symbiotic first cohort of validators.
- Kiln offers the most seamless Symbiotic restaking integration with just 1-click versus complicated setup with other providers.
- Excellent track record in staking on 30+ protocols, managing more than $8.6b in stakes.
- Trusted by industry leaders such as Ledger, Lido, Coinbase Cloud, Bitpanda, Crypto.com and many more!
Protocol card:
Token
ETH
GRR
Pending mainnet
Number of live validators
Pending mainnet
Consensus
Restaking
Symbiotic FAQ
What does restaking mean?
Restaking enables staked ETH and other assets to be used as crypto-economic security for protocols other than Ethereum in exchange for protocol fees and rewards.
What is the difference between PoS and Symbiotic’s restaking?
While PoS is a foundational consensus mechanism, Symbiotic’s restaking represents a specialized innovation that extends the capabilities and utility of staked assets in certain blockchain projects.
Is there a minimum and maximum amount to restake on Symbiotic?
You can deposit any amount of assets on Symbiotic. Note: Staked assets are currently capped on Symbiotic. The caps are progressively raised to allow more users to participate in staking as Symbiotic gets closer to the mainnet.
Do I maintain custody of my ETH tokens? Is restaking with Symbiotic non-custodial?
You can maintain custody of your staked ETH through any wallet or custodian solution of your choosing. Kiln restaking with Symbiotic is non-custodial, only you can access your funds by controlling the underlying wallet which holds a claim to the funds.
Is there a lockup period when restaking with Symbiotic?
There is no lockup period on Symbiotic.
What are the risks associated with Symbiotic restaking?
When restaking, assets are exposed to both Ethereum and Symbiotic penalties if behaving against one network’s consensus rules. While restaking generates additional rewards, it also implies additional risks that need to be taken into account.
How do rewards and penalties work in restaking?
Within the Symbiotic network, each network specifies its own rewards and penalties rules. Rewards and penalties value and distribution rates differ from one service to another.
What is a Gross Reward Rate (GRR) and how is it different from a Net Reward Rate (NRR)?
In the context of Proof-of-Stake blockchains, the gross reward rate (GRR) refers to the total or gross amount of rewards earned from staking before deducting any fees or expenses. This is a reward rate that fluctuates with the operations of the protocol and the performance of validators, it is not set by Kiln.
The net reward rate (NRR), on the other hand, takes into account the deductions or expenses, providing a measure of the actual rewards received after subtracting fees or costs.
Where can I learn more about Symbiotic?
There are many existing resources but we invite you to visit the Symbiotic website.