Symbiotic Staking Protocol Completes $29 Million Series A Financing
According to Cointelegraph, cryptocurrency staking protocol Symbiotic has completed a $29 million Series A financing round, led by Pantera Capital, with participation from over 100 institutions and angel investors, including Aave, Polygon, and StarkWare.
The funds will be used to launch a blockchain security coordination layer called the "Universal Staking Framework." This framework allows any combination of cryptocurrencies (including L1/L2 chain assets) to participate in network validation. It is currently adopted by 14 networks such as Hyperlane and is expected to integrate with 20 other ecosystem projects.
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