Symbiotic Launches External Rewards Feature for Token-Based Incentives
Symbiotic has launched a new feature called External Rewards, allowing networks to offer token-based incentives to stakers and node operators. This feature aims to enhance shared security across modular blockchain ecosystems.
Key points include:
- External Rewards enables protocols to distribute native tokens or points via the Symbiotic platform.
- This adds incentives alongside Symbiotic Points, aiding networks in bootstrapping security and attracting capital.
- All rewards are accessible through a single interface for stakers and contributors.
- Protocols such as Hyperlane are already utilizing External Rewards to incentivize stakers with $HYPER tokens.
- Symbiotic's framework supports various staking models, aiming to unify rewards and security incentives.
Misha Putiatin, co-founder of Symbiotic, stated that this launch is a significant advancement for shared security within the ecosystem.