Loki Symbolism?

I would like to ask, how do the followers of Loki exactly worship Loki when he is tied down to a rock with a serpent dripping poison on him until Ragnarok? What is he supposed to do when tied down? Is this literally believed, or is there a symbolism behind this? I would like to know.

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It is symbolism. I don't view Loki as tied down. I don't worship/follow him. I do however, see his influence in things around me.

As the stories go, Loki is tied down by bindings that cannot be broken by anyone until Ragnarok when all bindings physical and mental are broken.
Usually, Loki is considered bound symbolically. Sometimes people say he is bound physically, but being a god of magic he is not bound magically. Some people practice in his footsteps or on his path, taking guidance from the stories and finding meaning in his ways. They don't turn directly to him as they more respect him and celebrate him. Another belief is that Ragnarok is now, that the stories are incredibly symbolic and everything stated about Ragnarok is currently happening (not something I personally believe).

Also, this argument is kinda weak but it's the one I hear the most, usually after someone has said one of the other reasons above.
"But it never says WHEN he was bound. He could still be unbound right now."
I feel like this never really gets mentioned, that time is a really weak thread to follow in Norse mythology.

In my personal practice, I follow his path and honor his ways. I see his binding as symbolic, and though I respect the other gods (in varying degrees) I don't believe he is fully bindable.

For some of us, Loki governs things that are in disarray, confused or non conforming to regular order. We appeal to him when things have gone horribly wrong or we have been mislead or seriously tricked. If we believe we have been influenced by something that he may have caused, we can present him an offering for relief. Depending on whether we are at fault or not, we can also request good favor from Odin.