KoinlyticsEigenLayer opened the restaking category in 2023. Symbiotic launched in 2024 as an alternative with different design choices. Both let stakers rent security to Actively Validated Services (AVSs), but the trust models differ.
EigenLayer
- Only ETH and Ethereum LSTs as collateral (natively).
- Operators run software; delegators pick operators.
- Slashing conditions defined per AVS, enforced by EigenLayer core.
- ~$15-20B TVL in 2026.
Symbiotic
- Any ERC-20 as collateral (opt-in per vault).
- Curator-driven vaults abstract operator selection.
- Slashing controlled by vault + AVS-defined rules.
- ~$4-6B TVL, growing.
The philosophical difference
EigenLayer optimizes for a single collateral asset (ETH) shared across many AVSs. Homogeneous risk pool. Symbiotic optimizes for heterogeneous collateral: an AVS can require exposure to BTC-collateralized security, stablecoin-collateralized, etc.
Slashing
Both slash on AVS-defined conditions. EigenLayer's slashing went live April 2025. Symbiotic's slashing is per-vault; a vault can opt out of certain slashing conditions entirely.
For AVS builders
- Need ETH-denominated security = EigenLayer.
- Need multi-asset or non-ETH collateral = Symbiotic.
- Need flexibility on slashing rules = Symbiotic.
For restakers
EigenLayer via LRTs (Ether.fi, Renzo) is the mass-market path. Symbiotic via a curator vault is emerging. Read the specific vault's slashing conditions and operator set.