Symbiotic secures $29 million to expand universal staking framework

Symbiotic, a cryptocurrency staking protocol, has raised $29 million in a Series A funding round to support the rollout of its Universal Staking Framework, a new economic coordination layer aimed at securing various blockchain networks.

The round was led by Pantera Capital and included participation from Coinbase Ventures and over 100 angel investors, with backing from firms such as Aave (CRYPTO:AAVE), Polygon (CRYPTO:MATIC), and StarkWare.

According to Symbiotic, the Universal Staking Framework is intended to shift staking from being a network-specific security tool to a broader coordination layer that can support both monolithic and modular layer-1 and layer-2 chains.

“We’ve created a modular framework that lets protocols evolve security models over time while efficiently coordinating risk,” stated co-founder Misha Putiatin, who explained that the protocol offers a modular approach allowing blockchain projects to evolve their security models without rebuilding infrastructure.

Pantera Capital’s Paul Veradittakit called the project the “next step in blockchain infrastructure,” adding that it enables new forms of economic coordination previously not possible across different assets and networks.

The framework supports a wide range of cryptocurrencies for staking, which may unlock diverse use cases in decentralised finance as more assets go on-chain.

Symbiotic’s infrastructure is already integrated with 14 networks, including Hyperlane (CRYPTO:HYPER), Spark (CRYPTO:SPARK), and Avail (CRYPTO:AVAIL), with plans to expand to over 35.

The new funding will be used to scale the team, develop features such as customisable slashing and risk modeling, and onboard additional networks.

The protocol’s flexible architecture also allows applications like bridges, oracles, and sectors involving artificial intelligence or zero-knowledge proofs to define their own validator structures and incentives without major changes to existing infrastructure.