Eigen Labs Secures $100M Investment For Eigenlayer From A16z Crypto
Eigen Labs, the development team behind the Eigenlayer restaking protocol, announced a substantial $100 million investment from A16z Crypto, a subsidiary of Andreessen Horowitz.
This funding follows the project’s successful $50 million Series A round in March 2023. Eigenlayer, known for enabling ethereum (ETH) stakers to seamlessly redelegate their staked ETH, plays a vital role in decentralized finance (defi). The protocol allows users to participate in multiple services simultaneously, enhancing overall security.
Eigen Labs expressed excitement about the investment on social media, stating, “Our mission is to maximize open innovation,” highlighting their commitment to ongoing development. Currently securing $7.806 billion in total value locked (TVL), Eigenlayer’s TVL has seen a significant increase this month, rising from $2.156 billion on Feb. 5, 2024. This substantial investment from A16z Crypto further solidifies Eigenlayer’s position in the defi space, following previous funding from Blockchain Capital, WAGMI Ventures, TRGC, and Eclipse.
Clever Robot News Desk 24th February 2024
