Restaking Protocol Symbiotic Launches on Ethereum Mainnet

Restaking Protocol Symbiotic Launches on Ethereum Mainnet

Symbiotic has officially launched on Ethereum mainnet, becoming the first fully permissionless restaking protocol to operate in a production environment. Restaking allows users to redeploy staked assets on one network to secure another, improving capital efficiency across DeFi.

Unlike other restaking protocols like EigenLayer, Symbiotic offers greater flexibility by accepting any ERC-20 token in its security model, not just ETH or its derivatives. "A really good argument for networks to start with us is that we don't have political influence," said Symbiotic co-founder Misha Putiatin.

Symbiotic is also the first restaking protocol to fully implement slashing mechanisms, ensuring validator accountability and network integrity. Its modular "vaults" allow users to pool staked assets and customize slashing mechanisms, offering protocols the freedom to define their security architecture without adapting to predefined standards.

The launch has already attracted interest from over a dozen projects, including rollups, oracle networks, and data availability layers. For instance, Chainbound leverages Symbiotic for pre-confirmations, while Router enables Cosmos appchains to utilize Ethereum's security.

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Ondo Finance Expands US Treasury Token to XRP Ledger

Ondo Finance has announced the expansion of its tokenized US Treasury offering, OUSG, to the XRP Ledger, aiming to provide 24/7 settlement for institutional investors. Backed by BlackRock’s USD Institutional Digital Liquidity Fund, OUSG offers exposure to short-term U.S. Treasury securities with an APY of 4.16% and $185 million in total value locked.

Ripple’s RLUSD stablecoin will enable near-instant redemptions, with initial liquidity seeded by Ondo and Ripple. The deployment, scheduled within six months, reflects the growing appeal of tokenized real-world assets, now a $3.5 billion market. “The 24/7 intraday settlement enabled by tokenized assets like OUSG marks a transformative shift in capital flow management,” said RippleX VP Markus Infanger.

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OpenSea Faces Backlash Over OS2 Beta Access and Airdrop

OpenSea launched the beta version of its OS2 marketplace, granting early access to holders of its Gemesis NFTs while leaving other users on a waitlist. The platform introduces an XP rewards system to, sparking speculation of an airdrop despite OpenSea remaining silent on any token plans. Once dominating NFT market volume with 90%, OpenSea now holds just 33%.

Some traders criticized the exclusivity of access, with one claiming, “I’ve traded $10M on OpenSea but can’t access OS2 without Gemesis.” Additionally, early reports show no retroactive XP rewards for past activity, frustrating long-time users. OpenSea CEO Devin Finzer addressed concerns, stating that the platform “hasn’t forgotten the OGs” but provided no specifics.

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Movement Labs Rolls Out Developer Mainnet

Movement Labs has launched its developer mainnet, advancing plans to integrate Facebook’s Move Virtual Machine (MoveVM) into Ethereum Layer 2. The launch allows select partners to deploy decentralized protocols and prepare for a public mainnet debut in February. Coinciding with this, the company unveiled a multi-asset liquidity program for DeFi protocols.

The MoveVM, initially created for Facebook’s abandoned Diem project, underpins Sui and Aptos but is now being adapted for Ethereum. With $38 million in Series A funding from Polychain Capital, Movement Labs aims to bring innovative products to the Ethereum ecosystem, bridging DeFi with high-speed programming capabilities.

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Data of the Day

Jupiter’s total value locked (TVL) rose to $2.81 billion, overtaking Raydium to become Solana’s second-largest protocol. Recent developments, including a majority stake acquisition in Moonshot and SonarWatch, fueled the surge. Meanwhile, the JUP token, which trades at $1.19, gained 24% in 24 hours amid increased demand and buyback commitments.

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More Breaking News

• French authorities launch a judicial probe into Binance, investigating alleged money laundering, tax fraud, and drug trafficking violations.
• Metaplanet opens Asia’s largest Bitcoin fundraising initiative, aiming to raise $745M through 21 million shares of market-tied moving strike warrants.
• KuCoin agrees to pay a $297M fine and exit the US market, pleading guilty to charges of operating an unlicensed money-transmitting business.
• Hive Digital to acquire a $85M Bitcoin mining site in Paraguay, tripling its hashrate to 25 EH/s by September.
• US Senate confirms pro-crypto Scott Bessent as Treasury Secretary, paving the way for a federal digital asset regulatory framework under Trump’s administration.
• Coinbase expands into Argentina with regulatory approval, targeting the 5 million daily crypto users in a country battling high inflation.

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