Eigen Labs, Developer Behind Restaking Protocol EigenLayer, Raises $100M From A16z Crypto

February 22, 2024
The Last Cryptocurency
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Eigen Labs, the developer behind EigenLayer, the crypto restaking project atop Ethereum that is shaking up the decentralized finance landscape even though it’s not yet live, raised $100 million from venture capital investor a16z crypto.

Eigen Labs confirmed the investment in a thread on the social media platform X.

EigenLayer is at the heart of a new blockchain-industry trend known as “restaking,” where Ethereum’s ether (ETH) tokens that are deposited or “staked” as security for the main blockchain can be repurposed to secure additional networks and protocols.

Edited by Sheldon Reback.

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