Context

Symbiotic is a permissionless restaking protocol that enables decentralized protocols and ecosystems to access economic security from those who provide staked assets. This creates an efficient system where stake can be leveraged to secure multiple protocols and decentralized ecosystems.

In Symbiotic, staked assets are locked into Vaults – smart contract-based pools that are each configured to accept a specific ERC-20 token. These Vaults allow stake providers to contribute assets and receive rewards, while protocols utilize the staked assets to increase security, particularly for cross-chain operations.

The Symbiosis Protocol integrates with Symbiotic to strengthen its security framework. Symbiosis Validators, who run relayer nodes, can register in Symbiotic and have assets allocated to them in Symbiotic Vaults, increasing the economic security backing the protocol.

Proposal

Deploy a Symbiotic Vault within Symbiotic’s infrastructure with the following parameters:

• Vault Token: SIS
• Vault Limit: Initially set at 1,000,000 SIS tokens.

Vault Funding Sources:

• 250,000 SIS tokens will be seeded by the Symbiosis Foundation.
• The remaining tokens will be open for deposits from SIS token holders.

Vault funds will be allocated to the relayers nodes of the Symbiosis Relayer Network.

Key Points

• The SIS Vault will contribute to the security of the Symbiosis Protocol by increasing economic backing.
• Users who deposit SIS tokens into the vault will receive staking rewards, incentivizing long-term participation.
• All participants in the SIS Vault will be eligible for potential Symbiotic points rewards, creating an additional incentive for early adopters.
• The introduction of the vault will increase SIS token visibility, benefiting SIS holders and the overall ecosystem.