Symbiotic Raises $29 Million for Universal Staking Framework Expansion
Restaking is evolving into a cross-chain economic coordination layer beyond its Ethereum origins. Key developments include:
- Symbiotic raised $29 million in Series A funding from Pantera Capital to launch a Universal Staking Framework, supporting various networks and assets.
- Symbiotic currently operates on 14 networks, with plans to double that, offering features like programmable slashing and staking-backed insurance.
- EigenLayer remains Ethereum-focused but has activated slashing on its mainnet and launched a marketing agency, now supporting over 190 actively validated services (AVSs).
- Puffer Finance introduced staking and restaking vaults for institutions, integrating ETH staking with EigenLayer's AVS in a compliance-ready manner.
- MoreMarkets enables utility for previously siloed assets like XRP, ADA, and DOGE, allowing users to stake directly from their origin chain without bridging complications.
These innovations illustrate a shift in staking from a simple consensus mechanism to a programmable economic substrate, enhancing flexibility and accessibility across the crypto ecosystem.