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This Altcoin on Binance Announces $70 Million in Investment! Then he introduced his new platform!
The restaking platform Eigen Labs announced the launch of EigenCloud with the support of a16z.
According to a report by Forbes, Eigen Labs has launched EigenCloud, a new platform built on the Ethereum restake protocol aimed at providing verifiable security for Web2 and Web3 applications.
The launch was initiated with a $70 million investment from Andreessen Horowitz’s blockchain-focused branch a16z crypto.
Accordingly, a16z crypto purchased $70 million worth of EigenLayer’s EIGEN tokens, leading Eigen Labs’ $100 million Series B round.
The funds raised in the Series B funding round will help accelerate the launch and commercialization of EigenLayer’s new developer platform, EigenCloud.
Ethereum co-founder and Consensys CEO Joe Lubin*** said:
"We are entering a new era where verifiability has become a fundamental building block of the internet, and EigenCloud is a bold step taken in this direction.
*By bringing verifiability to the cloud-based developer experience, Sreeram and Eigen Labs have become best-in-class leaders in expanding what’s possible on Ethereum and advancing the infrastructure for more trusted digital systems." *
EigenLayer allows those who stake Ethereum to “re-stake” their ETH to secure third-party services known as autonomous verifiable services.
After the news, the EIGEN price moved slightly.
*Not investment advice.
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