Crypto Staking Protocol Symbiotic has announced an increase of $ 29 million in its financing round of Serie A directed by Panther Capital.
Symbiotic, whose spare platform without permission was addressed to Ethereum (Eth) In January, announced The milestone on April 23. The financing round also attracted the support of Coinbase Ventures, as well as the investors of Angels, including AA (GHOST), Polygon (Cock) and Starkware, among others.
According to Symbiotic, the increase carries its universal rethinking framework to focus. With Universal Stoking, the Eigenlayer competitor aims to go beyond traditional re -estimation by offering a modular frame that admits flexible cryptonomic coordination.
Symbiotic will take advantage of the new financing to accelerate its expansion, with an approach in building its central equipment, improving its software and tools development kits, and expanding the integration of the cross chain. SDK and tools will help optimize key integrations into multiple cryptographic networks.
Other future milestones include the implementation of advanced risk cutting and modeling mechanisms.
Since its January 2025 launch In Ethereum Mainnet, establishing the first shared security system, Symbiotic has been integrated with 14 networks. The protocol says that an additional network integrations are currently in several stages of development.
“Universal Staking transcends rest by creating a truly modular framework for all forms of cryptographic economic coordination. Where the restart of networks connected with capital, the universal bet allows alignment throughout the life cycle of a protocol, from launch to maturity,” said the protocol.
Some of the main projects that are built with symbiotic include the Hyperlane interoperability platform, the decentralized finance network spark and the use of the web3 unification layer. Hyperlane allows Stakers to ensure validator sets through symbiotic vaults, while Spark uses symbiotic technology for customizable safety.
String of routers, a web abstraction chain, also Toca in symbiotic For shared security. Ethereum validators can ensure the router protocol through the symbiotic vault, benefiting from restructuring.
In a recent announcement, the OMNI Foundation revealed a $ 10 million rewards initiativewith the first support phase aimed at Sinvernet users with symbiotic.