The Symbiotic staking protocol has successfully closed its Series A funding round, raising $29 million in investment. This round was led by prominent firms Pantera Capital and Coinbase Ventures, with participation from over 100 private investors.
This is reported by Finway
Launch of Universal Staking Framework
The project team also announced the launch of the Universal Staking Framework — an innovative solution that, according to the developers, “creates a flexible system suitable for any form of economic interaction on the blockchain.” This solution helps coordinate the protocol’s operations at all stages of its development.
Mission and Development Prospects
“This funding accelerates our mission: expanding the team to meet the growing demand in the network, developing advanced SDKs for over 20 networks, and enhancing functionality,” the official statement reads.
Co-founder of Symbiotic, Misha Putiatin, noted in a comment that the team has created a modular structure that allows protocols to evolve their security models over time, effectively coordinating risks. This enables protocols at any stage of their development to change security models without the need to rebuild infrastructure.
As a reminder, in August 2024, the Symbiotic team announced the launch of the mainnet for developers.