The re-pledging agreement Symbiotic plans to launch the mainnet in the third quarter

The re-pledging agreement Symbiotic has launched its development network on the Ethereum Holesky test network, planning to release the mainnet later in the third quarter. Symbiotic allows users to deposit assets to protect third-party protocols, competing with EigenLayer. This deployment includes Symbiotic's core contracts, including its insurance vault and collateral system, which allows any asset to be re-pledged for protection of third-party protocols. The team pointed out that projects including Ethena, LayerZero and Bolt are exploring this platform, which also features a customizable modular design that can accommodate any combination of tokens as collateral for re-pledging.