a16z crypto invests $100 million in EigenLayer

EigenLayer on X: "Accelerating Ethereum Together: @eigenlayer ♾ @a16zcrypto We are excited to announce that Eigen Labs has raised $100 million from a16z crypto. 

Eigen Layer announced on Feb 22, 2024 that Eigen Labs has raised $100 million in Series B round from a16z crypto VC firm. a16z crypto is the only investor in this Series B funding round.

Eigen Layer said it feels exciting to have a16z invests in Eigen Layer because a16z focuses on long-term support.

Previously Eigen Layer raised $50 million in Series A round led by Blockchain Capital. Other investors including Polychain Capital, Electric Capital, Coinbase Ventures and Ethereal Ventures.

The word Eigen comes from German term means “your own”. EigenLayer developers want their platform to help builders launch their own protocols.

EigenLayer is a DeFi restaking platform. It allows users to stake native ETH or stake liquid staking tokens in other protocols and earn additional rewards.

EigenLayer currently supports restaking of ETH, rETH, stETH, cbETH, osETH, swETH, oETH, wBETH, ankrETH, ETHx, sfrxETH, mETH, and lsETH.

EigenLayer can reuse liquid staking tokens to be able to use those tokens for staking to secure other protocols in Ethereum.

As of Feb 23, 2024, EigenLayer has $7.915 billion total value locked. 

Ali Yahya | alive.eth on X: "Today, we're announcing that we're leading @eigenlayer's Series B".