{"id":26580,"date":"2024-02-22T15:47:53","date_gmt":"2024-02-22T15:47:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/a16z-invests-100-million-in-ethereum-protocol-eigenlayer\/"},"modified":"2024-02-22T15:47:53","modified_gmt":"2024-02-22T15:47:53","slug":"a16z-invests-100-million-in-ethereum-protocol-eigenlayer","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/a16z-invests-100-million-in-ethereum-protocol-eigenlayer\/","title":{"rendered":"a16z invests $100 million in Ethereum protocol EigenLayer"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/1708614209753-9168f3aa-1a42-4888-a325-5dbfaa7d89ff-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/1708614209753-9168f3aa-1a42-4888-a325-5dbfaa7d89ff-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/1708614209753-9168f3aa-1a42-4888-a325-5dbfaa7d89ff-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/1708614209753-9168f3aa-1a42-4888-a325-5dbfaa7d89ff-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">a16z has invested $100 million in Ethereum restaking protocol EigenLayer.<\/li>\n<li dir=\"ltr\">The startup founded by former University of Washington associate professor Sreeram Kannan raised $50 million in March.<\/li>\n<li dir=\"ltr\">EigenLayer has a TVL of $7.84 billion, up from $2.15 billion on February 5, 2024.<\/li>\n<\/ul>\n<p dir=\"ltr\">Venture firm Andreessen Horowitz (a16z) has invested $100 million in EigenLayer, a startup founded by former University of Washington associate professor Sreeram Kannan.<\/p>\n<p dir=\"ltr\">According to a Bloomberg report on Thursday, a16z was the only investor in the funding round.<\/p>\n<h2 dir=\"ltr\">a16z backs EigenLayer with $100 million<\/h2>\n<p dir=\"ltr\">EigenLayer is the largest restaking protocol on <a href=\"https:\/\/coinjournal.net\/news\/tag\/ethereum\/\">Ethereum<\/a>. It allows validators and stakers to earn by restaking liquid staking derivatives such as the Lido staked Ether (stETH) and RocketPool staked ETH (rETH).\u00a0<\/p>\n<p dir=\"ltr\">The $100 million investment adds to the $50 million that the EigenLayer team raised in March last year.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Accelerating Ethereum Together: <a href=\"https:\/\/twitter.com\/eigenlayer?ref_src=twsrc%5Etfw\">@eigenlayer<\/a> \u267e <a href=\"https:\/\/twitter.com\/a16zcrypto?ref_src=twsrc%5Etfw\">@a16zcrypto<\/a><\/p>\n<p>We are excited to announce that Eigen Labs, the core development team contributing to EigenLayer and <a href=\"https:\/\/twitter.com\/eigen_da?ref_src=twsrc%5Etfw\">@eigen_da<\/a>, has raised $100 million from a16z crypto.<a href=\"https:\/\/t.co\/M2JQ8HZZ0h\">https:\/\/t.co\/M2JQ8HZZ0h<\/a><\/p>\n<p>\u2014 EigenLayer (@eigenlayer) <a href=\"https:\/\/twitter.com\/eigenlayer\/status\/1760666731859833048?ref_src=twsrc%5Etfw\">February 22, 2024<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">The partnership with a16z crypto expands the Eigen Labs and a16z\u2019 commitment to research, the platforms noted. This will include in the area of open source, public goods and long-term support across the industry.<\/p>\n<p dir=\"ltr\">\u201c<em>a16z is extremely long-term. They first published perspectives on Bitcoin and Coinbase as early as 2013. In the decade since they\u2019ve continued to support the industry in important ways, including advocating for a positive technological future with policymakers and regulators<\/em>,\u201d the Eigen Labs team noted in a <a href=\"https:\/\/www.blog.eigenlayer.xyz\/accelerating-ethereum-together-a16z-crypto-x-eigen-labs\/\" rel=\"noopener noreferrer\" target=\"_blank\">blog post<\/a>.<\/p>\n<p dir=\"ltr\">EigenLayer launched in 2021 and has seen tremendous growth over the past few months. At the moment, the protocol ranks as the third-largest by total value locked (TVL) on Ethereum.\u00a0<\/p>\n<p dir=\"ltr\">Data from <a href=\"https:\/\/defillama.com\/protocol\/eigenlayer\" rel=\"noopener noreferrer\" target=\"_blank\">DeFiLlama<\/a> shows EigenLayer\u2019s TVL currently stands at $7.84 billion, having sharply risen from $2.15 billion on February 5, 2024.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/a16z-invests-100-million-in-ethereum-protocol-eigenlayer\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) a16z has invested $100 million in Ethereum restaking protocol EigenLayer. The startup founded by former University of Washington associate professor Sreeram Kannan raised $50 million in March. EigenLayer has a TVL of $7.84 billion, up from $2.15 billion on February 5, 2024. Venture [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":26581,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26580"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=26580"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26580\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/26581"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=26580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=26580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=26580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}