Symbiotic completes $29 million Series A financing

Cryptocurrency staking protocol Symbiotic completed a $29 million Series A financing round led by Pantera Capital and Coinbase Ventures, with the participation of more than 100 institutions and angel investors including Aave, Polygon and StarkWare. The financing will be used to launch the "Common Staking Framework", a blockchain security coordination layer. The framework allows any combination of cryptocurrencies (including L1/L2 chain assets) to participate in network verification. It has been adopted by 14 networks including Hyperlane, and is expected to be connected to 20 ecological projects.