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Symbiotic has raised $29 million in a Series A funding round led by Pantera Capital and Coinbase Ventures to launch its Universal Staking Framework. The new staking layer aims to enhance blockchain security by enabling cross-chain economic coordination. Over 14 networks, including Hyperlane and Avail, have already adopted the framework.
- Symbiotic's Universal Staking Framework enables cross-chain security using any cryptocurrency, including L1s, L2s, and emerging systems like AI or zero-knowledge proofs.
- The $29M funding round included participation from Pantera Capital, Coinbase Ventures, Aave, Polygon, and StarkWare, among others.
- Charles Hoskinson emphasized the need for cooperative tokenomics in crypto to compete with traditional tech giants entering the blockchain space.
📎 Related coverage from: cointelegraph.com