Eigen Labs Acquires Rio Network to Enhance EigenLayer Ecosystem
Key Points:
- Eigen Labs acquires Rio Network, signalling a significant move in the blockchain space.
- Instead of building a Liquid Restaking Token (LRT), Eigen Labs will open-source Rio Network’s code to support new LRTs.
- The Rio Network team joins Eigen Labs to enhance the EigenLayer ecosystem, amplifying collaboration and innovation in blockchain technology.
Eigen Labs acquires Rio Network team to accelerate our mission of creating an open, verifiable cloud.
They will not develop the Liquid Restaking Token (LRT) that they first envisioned for the Rio Network. Instead, they will use code from Rio Network and other forms of intellectual property to help facilitate new and under-development LRTs.
The acquisition involves transferring Rio Network’s code and intellectual property to the Eigen Foundation. This will help further Eigen Labs’ commitment to innovative collaboration within the blockchain ecosystem. Now, as all state material for the Rio Network is open-sourced, Eigen Labs will be taking centre stage in contributing to the ongoing advancement of LRTs with the broadest and most open development process in the space.
Read more: Top Liquid Restaking Tokens To Watch In 2024
Open-Source Development Strategy for Liquid Restaking Technology
The Rio Network team will join Eigen Labs to bring even more expertise and insight into further enriching the EigenLayer ecosystem. As a result of this new partnership structure, Rio’s team is working with other members of the Eigen Labs team to strengthen and broaden the scope of EigenLayer further.
Eigen Labs has decided to acquire Rio Network and has strategically pivoted away from LRT development to strengthen the broader liquid staking ecosystem. The merger of the Rio Network technology into the EigenLayer technologies indicates that Eigen Labs wants to further strengthen its role as a leading provider of blockchain infrastructure solutions in the desire to cater to the evolving needs of developers and stakeholders in the DeFi ecosystem.
This is a very important acquisition for Eigen Labs and a major indication of the company’s commitment to driving innovation and collaboration throughout the blockchain ecosystem. By integrating Rio Network’s capabilities, Eigen Labs will unlock new opportunities to deliver more value to the community and partners.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
News
Eigen Labs Acquires Rio Network to Enhance EigenLayer Ecosystem
Key Points:
- Eigen Labs acquires Rio Network, signalling a significant move in the blockchain space.
- Instead of building a Liquid Restaking Token (LRT), Eigen Labs will open-source Rio Network’s code to support new LRTs.
- The Rio Network team joins Eigen Labs to enhance the EigenLayer ecosystem, amplifying collaboration and innovation in blockchain technology.
Eigen Labs acquires Rio Network team to accelerate our mission of creating an open, verifiable cloud.
They will not develop the Liquid Restaking Token (LRT) that they first envisioned for the Rio Network. Instead, they will use code from Rio Network and other forms of intellectual property to help facilitate new and under-development LRTs.
The acquisition involves transferring Rio Network’s code and intellectual property to the Eigen Foundation. This will help further Eigen Labs’ commitment to innovative collaboration within the blockchain ecosystem. Now, as all state material for the Rio Network is open-sourced, Eigen Labs will be taking centre stage in contributing to the ongoing advancement of LRTs with the broadest and most open development process in the space.
Read more: Top Liquid Restaking Tokens To Watch In 2024
Open-Source Development Strategy for Liquid Restaking Technology
The Rio Network team will join Eigen Labs to bring even more expertise and insight into further enriching the EigenLayer ecosystem. As a result of this new partnership structure, Rio’s team is working with other members of the Eigen Labs team to strengthen and broaden the scope of EigenLayer further.
Eigen Labs has decided to acquire Rio Network and has strategically pivoted away from LRT development to strengthen the broader liquid staking ecosystem. The merger of the Rio Network technology into the EigenLayer technologies indicates that Eigen Labs wants to further strengthen its role as a leading provider of blockchain infrastructure solutions in the desire to cater to the evolving needs of developers and stakeholders in the DeFi ecosystem.
This is a very important acquisition for Eigen Labs and a major indication of the company’s commitment to driving innovation and collaboration throughout the blockchain ecosystem. By integrating Rio Network’s capabilities, Eigen Labs will unlock new opportunities to deliver more value to the community and partners.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
Latest
Kraken Critical Vulnerabilities Could Lead To Hundreds Of Millions Of Dollars In Losses
ZettaBlock Integrates with Stellar to Simplify Blockchain Development
Kraken Bug Bounty Program Helps Exchange Detects Extremely Critical Vulnerability
Press Release
ZettaBlock Integrates with Stellar to Simplify Blockchain Development
U.S Billionaires Trump and Musk Back Cryptocurrency, This DOGE 3.0 Takes Market By Storm
