The Ethereum liquidity re-pledging protocol EigenLayer announced late yesterday (22nd) that they have received a $100 million financing from the well-known US crypto venture capital firm a16z.
(Brief summary:
EigenLayer, the Ethereum re-pledging protocol, has gained popularity. How many new airdrops and returns can it unlock?)
(Supplementary background:
From Bitcoin to EigenLayer, exploring the new era of “crypto anarchism”)
After receiving a Series A financing of $50 million led by Blockchain Capital in March 2023, the Ethereum liquidity re-pledging protocol EigenLayer announced yesterday (22nd) that they have once again received a $100 million financing from the well-known US crypto venture capital firm a16z.
Why did a16z invest in EigenLayer? a16z partner Ali Yahya explained the reasons in a post on the social platform X. Initially, Ali Yahya expressed his admiration for EigenLayer’s founder, Sreeram Kannan. At the same time, Ali Yahya also explained his understanding of EigenLayer.
According to data from DeFiLlama, after temporarily lifting the 200,000 ETH pledging limit for each protocol on February 6th (now ended), EigenLayer’s TVL has reached $7.8 billion as of the time of writing, surpassing well-known projects such as Uniswap and JustLend, and rising to become the fourth-largest protocol, closely following AAVE. Its growth rate is astonishing.
(Source: DeFiLlama)
Further reading:
An analysis of the principles and advantages of EigenLayer’s repeated pledging
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