Router Chain, a venture capital-backed chain abstraction platform for web3, is partnering with Symbiotic to enhance shared security across decentralized networks.
The collaboration aims to meet security demands for users interacting across multiple ecosystems. According to Router Chain, which shared details of the partnership with crypto.news on Nov. 7, Symbiotic’s permissionless shared security network will play a critical role in achieving this goal.
Shared security enables smaller chains to leverage the security infrastructure of a larger layer, eliminating the need to establish their own validator network. Router Chain plans to utilize Symbiotic’s staking architecture for this robust security model, including asset staking within the Ethereum (ETH).
This partnership is expected to scale Router Chain’s ecosystem from its current $30 million in assets to a projected $500 million to $1 billion. Symbiotic’s restaking model will allow Router Chain to tap into Ethereum’s network security through key components such as the Router Service, RouterMiddlewareService, and Symbiotic Vault.
Ethereum validators interested in securing the Router protocol will access this through the Vault for restaking. The Router Gateway will enable cross-chain communication, enhancing the efficiency of staked ETH in supporting Router’s network security.
Beyond secure cross-chain operations, the partnership introduces new yield opportunities for ETH validators. ETH holders who stake via Symbiotic will contribute to network security beyond Ethereum, securing other chains while earning low-risk yield.
Router Protocol, supported by Coinbase Ventures, Wintermute, QCP, and other venture capital firms, announced an oversubscribed strategic funding round in June.
The Router Chain mainnet went live in late July, showcasing the project’s cross-chain intent framework and Nitro Bridge, designed to streamline cross-chain interactions. Router Nitro enables users to swap assets from Ethereum with Bitcoin (BTC).
Users can also swap BTC for wrapped Bitcoin on Ethereum.
Source: https://crypto.news/router-chain-taps-symbiotic-for-multi-chain-shared-security/