Web3 Protocol Symbiotic Raises $29M to Launch Universal Staking Framework
23.04.2025 14:40
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.
The involvement of Aave as an investor and partner in a cutting-edge staking protocol is likely to generate positive sentiment for AAVE. In the short term, the news may introduce some volatility as market participants adjust their outlook, but over the long term, the association with innovative staking solutions and enhanced DeFi integrations is expected to support a gradual price increase.
Polygon's commitment through its investment signals strong ecosystem support, which may uplift network utility and staking innovations linked to MATIC. Although the immediate reaction might be mixed with some short-term fluctuations, the longer-term impact is anticipated to be positive if the universal staking framework drives increased integration and network activity.