Symbiotic's Core V2 moves the protocol beyond shared security into shared collateral, letting one vault deposit back obligations across insurance, credit, and tokenized assets. The capital can earn base yield in Aave or Morpho while idle, collect premiums for backing obligations, then get recalled and enforced by code when a trigger hits. Early examples include Liquid Lane with $6B Fasanara Capital as first curator, Cap's roughly $220M delegated to back a $100M Susquehanna Crypto facility, and Nexus Mutual targeting $100M in delegated capital.

TLDR by @Benthic

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