{"id":23371,"date":"2025-04-23T13:16:44","date_gmt":"2025-04-23T13:16:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=23371"},"modified":"2025-04-23T13:16:44","modified_gmt":"2025-04-23T13:16:44","slug":"symbiotic-raises-29m-for-staking-based-universal-coordination-layer","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=23371","title":{"rendered":"Symbiotic raises $29M for staking-based universal coordination layer"},"content":{"rendered":"
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\"Symbiotic<\/p>\n

Cryptocurrency staking protocol Symbiotic closed a $29 million Series A funding round led by Web3-focused investment firms, including Pantera Capital and Coinbase Ventures, to support the launch of a new economic coordination layer for blockchain security.<\/p>\n

The round included more than 100 angel investors, with participation from major industry players including Aave, Polygon and StarkWare, the company said in an April 23 announcement shared with Cointelegraph.<\/p>\n

The closing of the funding round also marks the launch of Symbiotic\u2019s Universal Staking Framework, which aims to be an economic coordination layer that bolsters blockchain security via staking.<\/p>\n

The new staking layer enables the use of any combination of cryptocurrencies to secure networks, including monolithic and modular<\/a> layer-1<\/a> and layer-2 blockchains, the announcement stated.<\/p>\n

\u201cWe\u2019ve created a modular framework that lets protocols evolve security models over time while efficiently coordinating risk,\u201d Misha Putiatin, co-founder of Symbiotic, told Cointelegraph. \u201cThis empowers protocols at every stage of their lifecycle to evolve their security models seamlessly without rebuilding infrastructure.\u201d<\/p>\n

Related: <\/strong><\/em>Ethereum L2 development is \u2018double-edged sword\u2019 for ETH value<\/strong><\/em><\/a><\/p>\n

The \u201cnext step\u201d in blockchain infrastructure<\/h2>\n

The new staking layer is the \u201cnext step in blockchain infrastructure\u201d due to unlocking \u201ceconomic coordination between assets and networks that were previously impossible,\u201d according to Paul Veradittakit, managing partner at Pantera Capital.<\/p>\n

\u201cAs the number and variety of onchain assets continue to increase, Symbiotic allows them to easily serve as economic security while enabling entirely new use cases across DeFi,\u201d he added.<\/p>\n

Blockchain networks looking to bolster security can adopt Symbiotic\u2019s network of decentralized validators that bring \u201cprogrammable security\u201d without the need to modify infrastructure.<\/p>\n

According to the company, 14 networks, including Hyperlane, Spark and Avail, have already adopted the new coordination layer, with 20 more expected to follow.<\/p>\n

The staking layer enables \u201cany protocol, including L1s, bridges, oracles, and even emerging verticals like artificial intelligence or zero-knowledge systems, to configure their own validator sets, incentive mechanisms and slashing conditions without having to rebuild core infrastructure,\u201d Putiatin said.<\/p>\n

Related: <\/strong><\/em>Bitcoin ETFs log $912M inflows in \u2018dramatic\u2019 investor sentiment boost<\/strong><\/em><\/a><\/p>\n

Crypto needs more collaborative economic incentives: Hoskinson<\/h2>\n

Cardano founder Charles Hoskinson, speaking at Paris Blockchain Week 2025<\/a>, emphasized the need for collaborative economics in the crypto industry to counter growing competition from traditional tech firms entering the blockchain space.<\/p>\n

\"Cryptocurrencies,
Charles Hoskinson. Source: <\/em>Cointelegraph<\/em><\/a><\/figcaption><\/figure>\n

Crypto\u2019s \u201ccircular economy<\/a>,\u201d which often means that the rally of a specific cryptocurrency is bolstered by funds exiting another token, is limiting the growth of the industry, said Hoskinson.<\/p>\n

\u201cThe problem right now, with the way we\u2019ve done things in the cryptocurrency space, is the tokenomics and the market structure are intrinsically adversarial. It\u2019s sum 0,\u201d said Hoskinson. \u201cInstead of picking a fight, what you have to do is you have to find tokenomics and market structure that allows you to be in a cooperative equilibrium.\u201d<\/p>\n

\u201cYou can\u2019t build a global ecosystem this way, and you can\u2019t win this way,\u201d he said. \u201cBecause here\u2019s the thing. The incumbents are much larger.\u201d<\/p>\n