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Home»ADOPTION NEWS»Liquid Restake Platform Mellow Launches as Symbiotic
ADOPTION NEWS

Liquid Restake Platform Mellow Launches as Symbiotic

By Crypto FlexsJune 11, 20243 Mins Read
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Liquid Restake Platform Mellow Launches as Symbiotic
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DeFi • June 11, 2024, 10:00 AM EDT

Liquid Restoration Project Mellow was launched today to restore Symbiotic protocols.

Mellow will become part of the Lido Alliance, as previously discussed on Lido’s governance forum.

Mellow describes itself as a “modular infrastructure for LRT creation” that provides a variety of permissionless vault smart contracts that give depositors some degree of choice when redepositing.

“Mellow allows depositors to benefit from the liquidity of their staked assets while giving them more flexibility in their desired level of risk exposure. This is achieved by dynamically adjusting strategies within each vault based on real-time risk assessment and market conditions,” the team claims. their documents.

Risk management is an important topic for those looking to reinvest, as additional exposure to AVS entails additional risk reduction. Mellow seeks to solve this problem by decentralizing LRT creation and allowing “curators” to create different risk profiles and allow depositors to choose the risk profile that suits them better.

Mellow, launched today, will be Symbiotic’s “first and flagship LRT” and seeks to compete with Eigenlayer in the liquid re-staking segment, which has grown rapidly over the past year. EigenLayer currently has a total valuation of approximately $20 billion.

The platform operates within Symbiotic’s actively verified services ecosystem.

Mellow was formed in 2020 and supported by core members Cypher.fund and Lido. Their initial fundraiser took place in 2021 and was led by Arrington Capital, ParaFi, and Robot VC (with participation from Lemniscap, Primitive, and other VCs and OG angels).


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Jordan Leech is an editorial intern at The Block based in Berlin. He worked as a broadcast reporter, camera operator, and producer for several years before moving on to work in the cryptocurrency industry. Jordan holds degrees in Philosophy and Political Science from the University of Guelph and is an avid photographer and traveler in his spare time.

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