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Symbiotic has secured $29 million in a Series A funding round led by Pantera Capital and Coinbase Ventures to expand its universal staking framework. The protocol enables cross-asset restaking beyond Ethereum, challenging EigenLayer with support for LP tokens and stablecoins. This funding marks a significant step in redefining blockchain security and economic alignment.
- Symbiotic’s Universal Staking Framework enables cross-asset restaking, supporting ERC-20 tokens, stablecoins, and LP tokens beyond Ethereum.
- The protocol has rapidly grown to over $1 billion TVL and is live on 14 networks, with plans to expand to 35+ chains.
- Competitors like Babylon and StaFi are also advancing staking innovations, highlighting a trend toward greater flexibility in DeFi.
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