Summary

Symbiotic, a protocol for universal staking, has launched Relay, a new software development kit (SDK) that allows users to securely stake assets on Ethereum and verify their stake across multiple blockchains.

Key Features:

• Relay enables protocols to stake assets effectively and can apply its technology widely.
• This SDK is a versatile adaptation of Symbiotic’s existing restaking technology, designed to integrate seamlessly into a variety of crypto ecosystems.

Context of Relay’s Launch:

Staking plays a critical role in securing blockchains by offering rewards for validators who commit collateral, known as ‘stake’, to facilitate transaction processing. With the introduction of Relay, Symbiotic aims to streamline the process, allowing developers to reliably build decentralized applications (dApps) across diverse chains without compromising security, cost, or complexity. The company recently secured $29 million in a Series A funding round led by Pantera Capital, supported by Coinbase Ventures and numerous angel investors.

Quote:

“This makes it easy to build bridges, oracles, rollups, or risk protocols that are secured by real stake and verifiable anywhere their users are…”

Translation: “This allows for the creation of effective and secure multichain solutions without needing to rely on a specific validator set, trust a multisig mechanism, or compromise on decentralization.”

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