Coinbase, Pantera back $29m raise for crypto staking protocol Symbiotic

Crypto Slating Protocol Symbiotic announced an increase of $ 29 million in its series A series led by Pantera Capital.

Symbiotic, including the replenishment platform without authorization has been put online on Ethereum (Ethn) In January, announcement The milestone on April 23. The financing cycle has also attracted the support of Coinbase Ventures as well as providential investors, including Aave (GHOST), Polygon (Police) and Starkware among others.

According to Symbiotic, the increase highlights its universal ignition framework. With a universal intention, the competitor Eigenlayer aims to go beyond the traditional appeal by offering a modular framework which supports flexible cryptocurical coordination.

Symbiotic will take advantage of new funding to accelerate its expansion, emphasizing the creation of its basic team, improving its software development kits and tools and the widening of transversal integration. SDKs and tools will help rationalize key integrations on several cryptographic networks.

The other stages to come include the implementation of striking mechanisms and advanced risk modeling.

Since January 2025 launch On the Mainnet Ethereum, establishing the first shared security system, Symbiotic integrated at 14 networks. The protocol indicates that 35 additional network integrations are currently at different stages of development.

“Universal jealking transcends reinstallation by creating a truly modular framework for all forms of economic coordination of the crypto. When the reduction of the networks connected with capital, universal intention allows alignment throughout the life cycle of a protocol – from launch to maturity,” noted the protocol.

Some of the main construction projects with symbiotics include a hyperlane interoperability platform, a decentralized financing network and a web3 unification layer. Hyperlan allows stakers to secure validators’ sets via symbiotic vaults, while Spark uses symbiotic technology for customizable safety.

Router chain, a chain abstraction supported by VC3, also Symbiotic tape for shared security. Ethereum validators can secure the router protocol by the symbiotic safe, benefiting from replenishment.

In a recent announcement, the Omni Foundation revealed a $ 10 million awards initiativeWith the first phase of targeted support for Solvernet users with symbiotic.