Eigen Labs Acquires Rio Network

By Coinseek | Cryptonewsss | 13 Jun 2024


Eigen Labs, the innovative force behind the EigenLayer protocol, has announced a strategic acquisition of the Rio Network, a leading restaking platform. This deal, unveiled on June 12, includes the open-sourcing of Rio’s intellectual property code, signaling a significant shift in the crypto staking landscape. The acquisition, executed through two separate transactions, aims to integrate Rio’s advanced liquid restaking token (LRT) technology into the EigenLayer ecosystem, fostering transparency and innovation.

The Details of the Deal

The Eigen Foundation has secured the intellectual rights of the Rio Network, including its groundbreaking LRT technology, which will be open-sourced. This strategic move is expected to set a new standard for liquid restaking across blockchain networks, enhancing the utility of staked assets and promoting community-driven development.

Simultaneously, Eigen Labs has welcomed the talented Rio team, who bring over 75 years of combined crypto experience. This acquisition not only enriches EigenLayer’s capabilities but also strengthens its development team, emphasizing the company’s commitment to advancing blockchain technology.

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