Symbiotic

Registering to Cap's Symbiotic Network as an operator is very straightforward: simply provide the operator's Ethereum address, referred to agent in Cap's system, to

1. Cap's onboarding team: registers the Symbiotic Vault to Cap's system with loan parameters such as Loan-to-Value, Liquidation Threshold and restaker fees.

2. Delegator you wish to be receiving stake from: the delegator will then create the agent-specific Symbiotic Vault

To isolate slashing risk, each operator can only receive effective stake from one Symbiotic Vault. Delegations from other Vaults will not count as collateral. The operator must create a new address for each new Vault. Deployed addresses cannot be changed.

Under the hood, the onboarding process happens as the following:

1. The delegator first creates a vault via the CapSymbioticVaultFactory including the agent address. The call will register the operator in Symbiotic's Operator Registry and complete the Operator to Network Opt-in and Operator to Vault Opt-in process via the SymbioticOperator contract.

2. Once the Vault is deployed, Cap will register the agent via to Cap's system via the addAgent function. The function takes in the following struct:

struct AgentConfig {
    address agent;
    address vault;
    address rewarder;
    uint256 ltv;
    uint256 liquidationThreshold;
    uint256 delegationRate;
}

This function will add the agent to the Delegation contract, register the Vault and Agent to Cap's Symbiotic Network Middleware and set restaker rates

Delegations will take up to 6 days to be effective stake. Operators can start borrowing via the Asset page on Cap's app.