We are thrilled to announce that 01node is now a mainnet operator for Symbiotic Finance. After several months of anticipation and keeping the community updated on its progress, Symbiotic Finance has officially launched its mainnet today, January 31st, 2025. This marks an exciting new chapter in the project’s development, and we’re proud to be part of this momentous milestone.
In our previous article, we provided an overview of Symbiotic Finance and the efforts leading up to the mainnet launch. In this article, we will dive deeper into the diverse networks and protocols that are being built on the Symbiotic Finance mainnet, which are set to drive innovation and scalability within the decentralized ecosystem.
What is Symbiotic Finance?
Symbiotic Finance is a shared security protocol that acts as a thin coordination layer, allowing network builders to create and adapt their own (re)staking implementations in a permissionless environment. This protocol offers flexible and robust security, empowering developers to build next-generation decentralized networks while maintaining control over their own protocols.
Projects Built on Symbiotic Finance
Several exciting projects are already being developed on Symbiotic Finance’s mainnet. Below are some of the most innovative protocols and networks that are leveraging Symbiotic’s shared security model:
- HYVE Protocol: The HyveDA middleware is a data availability layer built on Ethereum, designed to support decentralized networks like Layer2s and Validiums. By using a permissionless data availability committee (DAC), HyveDA ensures high data throughput while enhancing security and scalability. Misbehaving nodes are penalized via Symbiotic’s delegated staking, ensuring only reliable nodes contribute to maintaining data availability.
- Router Protocol: Router Protocol is a framework for building interoperable decentralized applications. It facilitates secure cross-chain asset transfers and messaging in a decentralized, permissionless environment. Additionally, Router is enabling Proof-of-Stake (PoS) chains to borrow security from established blockchains like Ethereum and Bitcoin, further enhancing interoperability.
- Symbiosis: Symbiosis is a decentralized exchange that pools liquidity from multiple blockchains, regardless of their technology stack. It offers seamless token swaps and cross-chain asset transfers with minimal fees and competitive exchange rates, allowing users to trade tokens effortlessly across blockchains in a single transaction.
- Bolt: Bolt is a system designed to improve Ethereum’s user experience and censorship resistance by enabling Ethereum block proposers to make credible commitments about block contents. Leveraging Symbiotic’s restaking for economic assurances, Bolt introduces new out-of-protocol primitives, such as preconfirmations and inclusion lists, which ultimately enhance the value of Ethereum’s blockspace for users and applications.
- Cycle Network: Cycle Network enables trustless global state proof across various blockchain layers by combining Omni State Channel Indexers and decentralized Sequencers. It provides decentralized cross-chain settlement layers, ensuring secure state changes across Layer1, Layer2, and application chains with efficient latency optimization via ZK hardware acceleration.
- Tanssi: Tanssi simplifies blockchain deployment with custom logic specific to particular applications, offering projects a scalable and optimized solution. By connecting to Symbiotic for security, Tanssi ensures Ethereum-grade security for new networks from the very beginning.
- Hyperlane: Hyperlane is a permissionless cross-chain communication protocol, enabling decentralized and permissionless messaging and asset transfers. It offers developers full control over their decentralized applications (dApps) in a multi-chain environment and integrates Symbiotic’s Interchain Security Modules (ISM) for customizable and flexible security models.
- iBTC: iBTC, formerly known as dlcBTC, offers a decentralized wrapped Bitcoin solution, bridging the security of the Bitcoin network with DeFi applications. By removing the need for custodial solutions or third-party trust, iBTC minimizes risks and ensures security for Bitcoin users entering the DeFi space.
- Men-commit (Primev): Primev is developing mev-commit, a credible commitment network that enhances real-time interactions between MEV (Maximal Extractable Value) actors and execution providers. The platform enables fast cryptographic commitments and preconfirmations, with high throughput blockchain settlement for permissionless access.
Conclusion
Symbiotic Finance’s mainnet launch marks the beginning of an exciting time for decentralized applications and networks. With its shared security protocol, Symbiotic provides a strong foundation for projects to scale and innovate. From decentralized exchanges to cross-chain protocols and data availability solutions, the projects being built on Symbiotic Finance are paving the way for the future of decentralized finance and interoperability.
As mainnet operators, we at 01node are thrilled to be part of this ecosystem and look forward to contributing to the growth and success of Symbiotic Finance.