TL;DR
- Symbiotic launched External Rewards, a feature that allows networks to offer their own token-based incentives to participants securing their systems.
- The feature distributes native tokens or points through a single dashboard, facilitating economic coordination across modular and multichain ecosystems.
- Networks like Hyperlane are already using External Rewards, rewarding participants who secure cross-chain routes with $HYPER.
Symbiotic, a universal staking protocol and EigenLayer competitor, introduced External Rewards, a functionality that enables networks to provide token incentives to those supporting their system security.
This tool aims to strengthen shared security across modular blockchains, allowing different projects to integrate economic rewards without altering their core infrastructure.
The feature lets networks distribute native tokens or points directly via the Symbiotic platform, complementing the Points system, the protocol’s economic coordination mechanism. Users can view all rewards in a single dashboard, making it easier to track performance and participation across multiple networks simultaneously. Integrating these incentives aims to attract capital to new projects, enhance network protection, and facilitate the evolution of reward models.
Symbiotic Consolidates a Shared Security System
According to Misha Putiatin, co-founder of Symbiotic, each new feature strengthens the foundation for other developers to build on, and the introduction of External Rewards demonstrates the consolidation of shared security within the ecosystem. The tool is already in use by several networks, including Hyperlane, which rewards participants securing its cross-chain Warp Routes with $HYPER tokens.
Symbiotic’s universal staking framework supports a wide range of assets, from liquid restaked ETH to hybrid and native staking models. By unifying security incentives and rewards on a single platform, the protocol seeks to simplify economic coordination across modular and multichain ecosystems, streamlining interactions between projects and participants.
External Rewards allows each network to customize its rewards according to its needs without compromising operational efficiency or transparency. Users have immediate access to their earnings and can evaluate the impact of their contributions across different projects from a single dashboard.
Symbiotic strengthens its universal staking offering as a system capable of integrating diverse security and reward models, promoting cooperation between networks and optimizing asset protection
