Update: As of April 23, the testnet phase of our campaign has concluded on Symbiotic. Testnet vaults are now closed. Please read the rest of this blog post for more information on how to participate in the mainnet phase of our campaign on Symbiotic.
After a successful testnet experience that gave over 16,000 users a first look at the future of crypto apps, Symbiotic is now integrated with Omni SolverNet on mainnet. This makes Symbiotic the first app to be powered by SolverNet and sets a new standard for crypto’s user experience.
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$10 Million to Power Crypto’s Next Chapter
To accelerate this new paradigm, the Omni Foundation recently announced a $10 million incentive program to reward early SolverNet adopters, drive usage, and invite the next wave of users into this new world of ours. This $10 million program will go towards empowering users to engage with SolverNet-powered apps, with Symbiotic being the first.
Points System
With the launch of the first SolverNet-powered Symbiotic vault on mainnet today, users can begin to earn points for all SolverNet-powered transactions on mainnet.
Users will receive points based on their SolverNet deposit volumes. To kick things off, users will receive 1,000 points for every 1 wstETH they deposit into any of the Symbiotic wstETH vaults powered by SolverNet. These vaults are marked with the Omni logo to denote that they are SolverNet-powered and therefore part of the incentive program.
As Symbiotic integrates more vaults and asset types with SolverNet, more points specifications will be released. Additionally, each subsequent application integrated with SolverNet will also be eligible for points, with exact points specifications to follow. Points will be redeemable for a share of Omni’s $10 million incentive fund at a later date.
How Do I Deposit into Symbiotic?
Here’s a step-by-step walkthrough to start earning your first Omni points:
- If you don’t already have wstETH on Base, use a DEX like Uniswap to acquire some. The wstETH contract address on Base is:
0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452.
- Navigate to Symbiotic’s Deposit page and select any wstETH vault with the Omni icon.
- Connect your wallet. Under the “Deposit” tab, enter the amount of wstETH that you’d like to deposit and click “Deposit from Base”. Note: the maximum deposit amount on mainnet is 6 wstETH in a single transaction.
- Finalize your deposit with the pop ups that appear and click “Done”.
Rewarding Early Symbiotic Users on Testnet
Over 16,000 early users deposited into Symbiotic’s wstETH vault on testnet, powered by SolverNet, and confirmed what we’ve long believed: the old UX is broken, and it’s time to set a new standard. To reward our early adopters, these users will receive a points multiplier for Symbiotic deposits on mainnet.
- If you deposited between 0.1 and 0.2 wstETH on testnet, you will receive a 2x multiplier on any points earned depositing into Symbiotic on mainnet.
- If you deposited more than 0.2 wstETH on testnet, you will receive a 3x multiplier on any points earned depositing into Symbiotic on mainnet.
Symbiotic is just the beginning. More build partners are on the way which means more users will finally know what the onchain economy is supposed to feel like: simple, intuitive, and accessible with endless possibilities. Get excited, because you’ll have your chance to earn points with every new application integrated with SolverNet!
Shape the Future of Crypto With SolverNet
This is, in essence, another moment in history that transforms how we experience our everyday.
Just as the Wright brothers made flight a reality, SolverNet has given users a new onchain reality. Just as Neil Armstrong’s simple step changed mankind, the simple click of a button — thanks to SolverNet — changes how we use our assets. Just as the Internet revealed the power of connection, SolverNet has revealed how empowered users feel when every transaction only takes 5 seconds.
So with that, we say:
Hello, New World. We’re finally here.
