Coinbase-Backed Symbiotic Cracks the Code with ’Relay’—Trustless Multichain Staking Goes Live

Symbiotic—the crypto infrastructure player backed by Coinbase—just dropped a game-changer. Their new ’Relay’ protocol slashes the need for middlemen in multichain staking, letting blockchains talk directly without begging for trust.

No more cross-chain bridge hacks or centralized validators playing puppet master. Relay’s consensus mechanism treats chains like equal partners—finally delivering on crypto’s ’decentralized utopia’ promise (just don’t ask about the gas fees).

Wall Street’s still scratching its head, but for once, the tech might actually outpace the hype. Unless, of course, the VCs dump their bags first.

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.

Symbiotic announced a $29 million fund that WOULD launch the Universal Staking framework, extending blockchain security into broader economic coordination.#Symbiotic #Staking #BlockchainSecurityhttps://t.co/8lXScjcp88

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.”