Web3 Protocol Symbiotic Raises $29M to Launch Universal Staking Framework

Symbiotic, a restaking project focused on transforming traditional staking mechanisms, has raised $29 million in a Series A round led by Pantera Capital. The round, which also saw investments from Coinbase Ventures, Aave, Polygon, and over 100 angel investors, will be used to expand its ecosystem and workforce. The funds will accelerate the launch of its Universal Staking Framework, aimed at evolving the isolated security of individual networks into a coordinated, multi-asset economic layer. Since its launch in June 2024, Symbiotic has grown its TVL to over $1 billion operating in 14 networks, with plans to extend to over 35 networks including integrations with Hyperlane, Spark, and Avail. This development is viewed as a significant leap towards modernizing blockchain security and enabling new use cases across DeFi.