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.