Symbiotic and Router Chain, a web3 chain abstraction platform supported by venture finance, are collaborating to improve shared security across decentralized networks.
The partnership seeks to satisfy security requirements for users interacting with various ecosystems. Router Chain, which announced the collaboration on November 7, claims that Symbiotic’s permissionless shared security network will be essential to accomplishing this objective.
Through shared security, smaller chains can take advantage of a larger layer’s security architecture without setting up their own validator network.
For this strong security approach, Router Chain intends to make use of Symbiotic’s staking architecture, which includes Ethereum asset staking.
Through this agreement, Router Chain’s ecosystem is anticipated to grow from its present $30 million in assets to between $500 million and $1 billion.
Router Chain will be able to access Ethereum’s network security through essential components, including the Router Service, RouterMiddlewareService, and Symbiotic Vault, thanks to Symbiotic’s restaking paradigm.
This will be accessible through the Vault for restaking by Ethereum validators interested in protecting the Router protocol.
By facilitating cross-chain communication, the Router Gateway will improve the effectiveness of staked Ethereum in bolstering the router’s network security.
The collaboration offers ETH validators new income potential in addition to safe cross-chain activities. ETH holders who stake through Symbiotic will help to secure the network beyond Ethereum by protecting other chains and generating low-risk revenue.
In June, Router Protocol announced an oversubscribed strategic investment round backed by Coinbase Ventures, Wintermute, QCP, and other venture capital firms.
The project’s cross-chain intent structure and Nitro Bridge, simplifying cross-chain interactions, were demonstrated when the Router Chain mainnet became operational in late July.
Users can exchange Ethereum and Bitcoin assets with Router Nitro. On Ethereum, users can also exchange BTC for wrapped Bitcoin.
