Symbiotic, a protocol specialising in restaking, has just launched a new tool called Relay. Its aim is simple: to enable blockchains to communicate better with each other, without going through centralised systems such as bridges. A technical advance that could change the way crypto applications operate across multiple networks.
Today, each blockchain - such as Ethereum, Solana or Bitcoin - operates mainly on its own. When an application wants to operate on several networks at once, it requires complex, costly and sometimes insecure solutions. Relay offers an alternative: using tokens staked on one blockchain (like Ethereum, for example) to guarantee and validate what happens on another. It's a bit like a notary on Ethereum being able to validate a contract signed on Solana, in an automatic and verifiable way.
For developers, this means less work on security, more speed, and the possibility of creating truly "multichain" applications, capable of running on several blockchains at once without tinkering.
For users, this means no more wondering where their stashed money is or whether the bridge used is reliable: Relay takes care of that.
>> What's the status of the Symbiotic project, EigenLayer's competitor?
A tool designed for simpler, interconnected crypto The Relay SDK (development kit) is like a toolbox for projects that want to build applications on multiple blockchains. Thanks to it, an oracle (a tool that transmits data from the real world), a decentralised finance application or crypto insurance can run smoothly on Ethereum, Solana, Bitcoin and other networks, without having to create a different version for each blockchain.
Symbiotic's aim is to eliminate the silos between the major blockchains: Bitcoin for its solidity, Ethereum for its financial applications, Solana for its speed. Relay theoretically makes it possible to connect their strengths in a single system.
This project has been backed by a number of investors, including Pantera Capital and Coinbase Ventures, and has raised $29 million to fund its development.
>> Restaking : Symbiotic raises $29 million to challenge EigenLayer
A different bet against EigenLayer Symbiotic operates in the high-profile restaking sector, where EigenLayer is the undisputed leader. It enables projects to reuse ETH staked on Ethereum to secure other services, such as oracles or bridges. It's a powerful system, but one that remains focused on the Ethereum ecosystem.
Symbiotic is taking a singular but potentially more ambitious approach: enabling restaking not only on Ethereum, but also on other blockchains. The aim is to create a universal coordination layer. Where EigenLayer functions as a major security hub on Ethereum, Symbiotic aims to become a backbone for the entire crypto ecosystem, enabling applications to talk to each other, regardless of the network on which they are deployed.
In volume, the gap remains wide: EigenLayer secures more than $17 billion, compared with Symbiotic's $1 billion. But Relay could give Symbiotic a key role in building a more interoperable, simpler and better connected crypto.
>> Restaking: After the euphoria, this vertical is still looking for its model
