Author
Sujha Sundararajan
Author
Sujha Sundararajan
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Staking protocol Symbiotic has launched a shared staking dubbed ‘Symbiotic Relay,’ that enables seamless multichain staking and consensus verification.
The feature allows developers to leverage staked assets from any integrated blockchain to verify protocol decisions on any other supported chain.
According to a press release shared with Cryptonews, Relay unlocks shared staking logic and trustless coordination across blockchain ecosystems, which was previously impossible for developers.
“This opens the door for protocols to build bridges, settlement layers, oracles, and rollups without relying on multisigs or proof-of-authority setups, and without sacrificing decentralization,” Symbiotic noted.
Staking is Possible Between Entirely Different Networks, Tokens
The announcement marks the first time, stake alignment is possible between different networks, tokens, and consensus layers. Additionally, this capability introduces a new paradigm for building truly multichain decentralized applications (dApps), the release explained.
Algys Ievlev, co-founder of Symbiotic, emphasized the difficulties in building secure multichain infrastructure, which remained expensive custom work.
“Relay solves that,” he noted. It makes verifiable, stake-backed coordination between chains as simple as a plug-in without any trust assumptions or permissioning, enabling secure outcomes across ecosystems.”
Besides, for users, the dApps can verify outcomes and process interactions across chains, without trust issues.
Symbiotic Relay Enables a Unified Crypto Ecosystem
The feature combines the strengths of the largest blockchain ecosystems into a single coordination layer, the release read.
Chains including Bitcoin, Ethereum and Solana, which were once siloed, can now be tapped simultaneously. This includes combining Bitcoin’s security, Ethereum’s programmability, and Solana’s speed, all while using staked capital as a shared source of verifiable security.
In April, Symbiotic raised a $29 million Series A funding round led by Pantera Capital. The funding saw participation from Coinbase Ventures and more than 100 angel investors across industry-leading teams such as Aave, Polygon, and StarkWare.
Misha Putiatin, co-founder of Symbiotic, told Cryptonews at the TOKEN2049 Dubai exclusive interview that the company is already working with over 40 networks, preparing to launch.
“Most protocols want to reward users and create meaningful alignment between users and protocol success,” he told Cryptonews. “But there hasn’t been a flexible, modular system that lets you do that across multiple chains—until now.”
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