TechFlow, April 23 — According to Cointelegraph, cryptocurrency staking protocol Symbiotic has raised $29 million in a Series A funding round led by Pantera Capital and Coinbase Ventures. Notable projects including Aave, Polygon, and StarkWare also participated, alongside more than 100 angel investors.
This funding round coincides with the official launch of Symbiotic's universal staking framework. Designed as an economic coordination layer, the framework aims to enhance blockchain security through staking mechanisms. The new staking layer supports securing network safety using any combination of cryptocurrencies, applicable to both monolithic and modular Layer 1 and Layer 2 blockchains. Currently, 14 networks including Hyperlane, Spark, and Avail have integrated with this coordination layer, with another 20 networks expected to join.
