Symbiotic Launches 'Relay' to Bring Secure Staking Across Chains

Symbiotic, a competitor to EigenLayer, has introduced Relay, a software development kit (SDK) that enables protocols to stake assets on Ethereum while verifying those stakes across any blockchain. This innovative "restaking" technology allows users to reuse their stake for enhanced yields, facilitating the creation of verifiable and secure decentralized applications (dApps) across multiple chains. The release of Relay aligns with Symbiotic’s $29 million Series A funding round, unlocking new possibilities for building secure multichain protocols without compromising on cost or decentralization. Explore how Relay can transform your blockchain projects. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk