$CRYPTOMICHNL
Heating UpSnapshot Window: 2026-07-07 11:40 UTC · ← Back to Crypto Overview
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From shared security to collateral markets. Symbiotic Co-Founder @Psalom shares with @SynopsisEvents how early interest from financial applications led us to extend our shared capital infrastructure beyond network security and into collateral markets. With Core V2, announced [Spoken audio]: Let's start with the basics. What is symbiotic today? People knew you as a restaking protocol. Is that right? Or how do you describe yourself today? Restaking is a word, right? It was used for basically inherent and shared security. Take one token and you secure multiple proof of state blockchains, validated services bridges, data availability layers, rollups, everything between. So, yeah, symbiotic started out as again, There's this infrastructure for people not to reinvent the wheel, right? The main direction here was shared security and restaking interchangeably for a while. The more we grew inside the industry, the more we actually talked to people, the more we saw that restaking was not actually what people were interested in. They were interested in two things, not developing the code, not going through the same hurdle that people go through. Stating was not actually that interesting. They were willing to pay for the security. They were willing to go through the entire process of launching their own token and doing things that were common. But the main hurdle for them was to deploy and develop and run the system that was secure. We worked with Lombard on their TCAP implementation, with Manta on their first finality with other networks. I think we delivered value there. but we moved further away from restaking and in general like infrastructure. We started seeing financial applications coming forward, right? That was still like a huge surprise, the amount of interest that we got by financial applications is actually in the writing. The same problem, but like from completely different angle. As an application that requires collateral, it's kind of, it's really hard for you to get your first capital and then scale, because amount of research that curators need to do for your infrastructure, how you receive funds, how they're handled, like what are the mechanisms, like what are the risks inherent to that, even before they go to your product, right? Like even before they start to work on the nitty-gritty of like how the capital is actually going to be used, it's like the whole song and dance. So you basically have like two opportunities here. The first one is to just give curators a blank check and just deploy the vault with the multi-seq, like long-term financial applications are possible in that because you need actual commitments or you can go the route and like actually spend like months on the research where initial idea of shareable infrastructure worked really well for that. We've launched our first credit application so now it's like around 400 mil already which is for a completely new primitive because it's really cool especially in the market that we're in, right? Access the insurance protocols came along with the same get us framework and capital acquisition vehicles that are going to be easy to understand for capital providers and that we can easily onboard more people. After that, we've got other trading strategies, delta neutral strategies and other applications that were completely outside of usual infrastructure, so pro-hook state networks and systems and everything like that.
