๐จ Eigen Labs raises $70 million from a16z and launches EigenCloud to turn Ethereum's reinvestment into a programmable trust layer!
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๐ฐ Details:
โ Eigen Labs has secured $70 million from a16z to support EigenCloud, which expands Ethereum reinvestment for Web2 and Web3 applications.
โ The project is built on EigenLayer, which manages $12 billion in reinvested assets, and provides solutions like EigenVerify and EigenDA to enhance off-chain trust.
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๐ Why is this important?
๐น It facilitates institutional adoption of blockchain technologies without deep technical expertise.
๐น It enhances the role of Ethereum in supporting trusted applications.
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๐ Market implications:
๐ฐ Demand for EigenLayer may increase as the use of EigenCloud expands.
๐ก It may encourage more companies to adopt the Ethereum reinvestment model.
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๐ Do you think EigenCloud will change the way trusted applications are built in Web3?
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