Mellow Launches as Liquid Restaking Project, Partners with Lido DAO

• Mellow launched liquid restaking project for Symbiotic in Lido Alliance.
• Mellow offers permissionless vaults with dynamic risk management strategies.
• Mellow aims to address slashing risks by allowing depositors to choose risk profiles.
• Mellow is the flagship LRT for Symbiotic, competing with EigenLayer in restaking.
• Lido partners with Mellow to promote stETH as superior restaking asset.
• Mellow's vaults on Symbiotic offer proof of concept for stETH restaking.

Summary :
Liquid restaking project Mellow has launched as part of the Symbiotic protocol. Mellow aims to provide depositors with more flexibility and choice when restaking by offering different risk profiles. The platform allows users to create vaults and distribute deposits based on their own risk parameters. Mellow is the first and flagship liquid restaking token (LRT) for Symbiotic, which is competing with EigenLayer in the liquid restaking space. Lido DAO, the Ethereum staking platform, is endorsing Mellow Finance and its restaking vaults. The partnership between Lido and Mellow is part of Lido's strategy to maintain stETH's role in Ethereum DeFi amid growing competition from EigenLayer. Mellow's vaults currently offer rewards in the form of points, with the potential for future token airdrops. The choice to build on Symbiotic rather than EigenLayer is likely due to Symbiotic's acceptance of a wider range of crypto assets. This partnership aims to provide more options for restakers and address the limitations of EigenLayer's deposit caps.

Sources :

- TheBlock
- Coindesk