Lido Unveils Reststaking Vaults to Counter EigenLayer

Lido, the leading Ethereum staking platform, is introducing "restaking vaults" in partnership with Mellow Finance and Symbiotic to counter the threat posed by EigenLayer, a newer restaking service. These vaults will allow traders to restake Lido's stETH token and earn additional rewards from other networks, aiming to restore stETH's dominance in Ethereum DeFi. The partnership with Symbiotic, backed by Lido's investors, suggests that Lido is exploring alternative restaking options to EigenLayer, which has limited stETH deposits.