Symbiotic Finance Raises $29M Series A Led by Pantera Capital
Symbiotic Finance Raises $29M Series A Led by Pantera Capital
🤑 Pantera Bets Big on Symbiotic
Key updates from the web3 ecosystem this week:
- Symbiotic Finance secured $29M in Series A funding, with Pantera Capital leading the round
- Beefy Finance's Multi Protocol Cover expanded to include beS (Beefy Sonic)
- Superform launched their Rewards Program
- Silo Finance unveiled a redesigned V2 user interface
Context: Beefy's expansion on Sonic has grown to over $1B TVL since December 2024. The beS token is yield-bearing and automatically staked for rewards.
🛡️ BEEFY MULTI PROTOCOL UPDATE 🛡️ Our @beefyfinance Multi Protocol Cover now includes beS, aka Beefy Sonic. Learn more 👇 docs.beefy.finance/beefy-products…
🔔 Weekly industry update 🛡️ OpenCover: 🔹 @ShadowOnSonic and @PoolTogether_ are officially live on OpenCover. 🚨 Hacks: 🔹$5m worth of ZK tokens were stolen from a compromised ZKsync admin account. 🌀 Protocols: 🔹 @Euler was awarded a 500k OP grant to bring the lending app
🛡️ NEW COVER LISTED 🛡️ @ShadowOnSonic is officially available on OpenCover 🚀 🔸 Keep your assets safe on Shadow with @NexusMutual and streamline cover management. Learn more and find onchain peace of mind 👇 opencover.com/shadow
🔔 Weekly industry update 🛡️ OpenCover: 🔹 @OriginProtocol is officially available on OpenCover. 🔹 We redesigned our Discord server. 🌀 Protocols: 🔹 @eulerfinance launched a new $260,000 incentives package > x.com/eulerfinance/s… 🔹 @ExtraFi_io issued its monthly review >
Euler is the best place to be sidelined. New $260,000 supply incentives now live: - $USDC, $WETH, $cbBTC, $USDT, $WBTC All now getting yields above market average.
🔔 Weekly industry update 🛡️ OpenCover: 🔹 We released the April issue of OpenCover Alpha, our monthly newsletter > tinyurl.com/2x34hav5 🔹 @0xCoinshift csUSDL is officially available on OpenCover 🔒 Industry: 🔹 A $16 million, record-breaking bug bounty is live. Powered by
🛡️ NEW COVER LISTED 🛡️ @PoolTogether_ is now live on OpenCover 🚀 Stay safe on PoolTogether - protect your assets against onchain risks with @NexusMutual. Save $50+ in gas fees on L2. Learn more and get covered👇 opencover.com/pooltogether
🌟 OpenCover just got even easier to use 🪄 Our new cover selector lets you choose between Protocol Cover, Depeg Cover, and Custody Cover in just one click. Try it now 👇 opencover.com/app/?invite=LN…
🔔 Weekly industry update 🛡️ OpenCover: 🔹 @beefyfinance Multi Protocol Cover now includes beS, aka Beefy Sonic. 🌀 Protocols: 🔹 @superformxyz Rewards are live. 🔹 @SiloFinance redesigned their V2 UI. 🔹 @symbioticfi raised $29m in a Series A, led by @PanteraCapital.
🔔 Weekly industry update 🛡️ OpenCover: 🔹 We introduced the most significant upgrade to the @Base Pass. 🚨 Hacks: 🔹 Abracadabra Money was hacked for $13m. 🔒 Industry: 🔹 @NexusMutual's proposal to stake Kiln ETH in Enzyme Vault on @ether_fi is open for voting. 🌀
🛡️ Custody Cover is officially live on OpenCover 🛡️ Protect your digital assets from significant centralized exchange and custody risks, such as bankruptcy, hacks, and frozen withdrawals. Get started 👇 tinyurl.com/mrxz8jtj
🛡️ NEW COVER LISTED 🛡️ @OriginProtocol is officially available on OpenCover 🚀 Cover your $OUSD + underlying protocols, and protect your Super OETH assets from depeg risk. Learn more and get covered👇 opencover.com/originousd
🛡️ NEW COVER LISTED 🛡️ @0xCoinshift csUSDL is officially available on OpenCover 🚀 This exclusive cover was developed with @NexusMutual, with institutions and businesses in mind. Secure your positions on Coinshift csUSDL 👉 opencover.com/coinshift
🛡️ OpenCover Alpha – April 2025 🛡️ Explore what we’ve been up to this month – introducing Custody Cover and the Base Pass V2, our brand new UI, and more 📊 tinyurl.com/2x34hav5
OpenCover Partners with vfat.io for Protected DeFi Yields on Base
OpenCover and vfat.io launch a new integration enabling protected DeFi yields on Base network. Users can now secure their positions across Aerodrome, Uniswap, and PancakeSwap pools against: - Protocol hacks - Oracle manipulation - Liquidation failures - Governance attacks Coverage is backed by Nexus Mutual, which has underwritten over $5B in onchain risk. The protection process is streamlined: 1. Visit vf.at and select pool/deposit amount 2. Enable Buy Cover and choose duration 3. Complete deposit *Coinbase One members receive 10% discount with verified wallets*
OpenCover Updates dApp with Enhanced Pricing Display
OpenCover has rolled out a significant update to their dApp's interface, focusing on improved pricing transparency and yield comparison features. - New pricing display system shows real-time cover costs alongside onchain yields - Enhanced interface helps users identify optimal coverage opportunities more efficiently - Builds on previous March update that simplified cover type selection The platform continues to streamline the process of securing onchain portfolio protection. Users can now make more informed decisions by directly comparing coverage costs with potential yields. [Try the new features](https://opencover.com/app/?invite=LNDHR&filter=Protocol+Cover)
Beefy Finance Multi Protocol Cover Now Includes beS Token
Beefy Finance has expanded its Multi Protocol Cover to include beS (Beefy Sonic), a yield-bearing token that automatically generates staking rewards. Key updates: - beS token now protected under Multi Protocol Cover - Beefy's TVL on Sonic chain exceeds $1 billion since December 2024 launch - Coverage available directly through Beefy dApp The Multi Protocol Cover, launched in January 2025 with $1.9m capacity from Nexus Mutual, provides comprehensive protection for Beefy's multichain yield optimization platform and its sub-protocols through a single cover purchase. [Learn more about beS](https://docs.beefy.finance/beefy-products/beefy-escrowed-tokens/bes)
OpenCover Launches One-Click Cover Selection and Custody Protection
OpenCover has released a streamlined cover selector interface, simplifying their digital asset protection process. Users can now choose between three coverage types with a single click: - Protocol Cover for smart contract protection - Depeg Cover for stablecoin risks - Custody Cover for centralized exchange risks The new Custody Cover protects against exchange-related incidents including: - Bankruptcy events - Security breaches - Withdrawal freezes Supported exchanges include Coinbase, Kraken, Binance, OKX, Deribit, BitMEX, and Bybit. [Try the new interface](https://opencover.com/app/?invite=LNDHR)