Symbiotic Launches Relay SDK for Secure Multichain Staking
Symbiotic has launched Relay, a software development kit (SDK) designed to enable protocols to stake assets on Ethereum and verify that stake across multiple blockchains. Key points include:
- Staking secures blockchains in exchange for rewards, with validators committing collateral known as "stake."
- Restaking protocols like Symbiotic allow users to reuse stake across various blockchains, increasing yield opportunities.
- Relay provides a generalized toolkit for implementing Symbiotic-style restaking in diverse crypto ecosystems.
- The SDK connects developers to the Symbiotic network, enabling them to use stake from one blockchain to verify transactions on another.
- It simplifies the creation of bridges, oracles, rollups, and risk protocols secured by real stake.
- The launch was part of a $29 million Series A funding round led by Pantera Capital, with contributions from Coinbase Ventures and over 100 angel investors.
- According to co-founder Algys Ievlev, Relay addresses the challenges of building secure multichain protocols without sacrificing cost or security.
This development positions Relay as a potential standard for protocol coordination across chains.