- Rio Network is acquired by Eigen Labs, marking a major development in the blockchain industry.
- Eigen Labs plans to support new Liquid Restaking Tokens (LRTs) by making Rio Network’s code open-source instead of creating a new LRT.
- To improve EigenLayer ecosystem and spur blockchain innovation and cooperation, the Rio Network team joins Eigen Labs.
Our goal of building an open, verifiable cloud will be accelerated with Eigen Labs’ acquisition of the Rio Network team.
The Liquid Restaking Token (LRT) that they originally intended for the Rio Network will not be developed. Rather, they will leverage other intellectual property, including code from Rio Network, to support the building of new and underdeveloped LRTs.
The Eigen Foundation will receive the code and intellectual property of Rio Network as part of the transaction. This will support Eigen Labs’ continued dedication to creative cooperation inside the blockchain network.
Eigen Labs will be leading the charge in advancing LRTs moving forward with the most inclusive and transparent development approach available in the industry, now that all state material for the Rio Network is open-sourced.
Liquid Restaking Technology’s Open-Source Development Approach
To further enhance the EigenLayer ecosystem, the Rio Network team will join Eigen Labs, contributing even more experience and knowledge. Due to the new partnership structure, Rio’s team is collaborating with other Eigen Labs team members to further enhance and expand the capabilities of EigenLayer.
Eigen Labs has made the strategic decision to divest from LRT development and purchase Rio Network in order to fortify the larger liquid staking ecosystem.
In order to meet the changing needs of developers and other stakeholders in the DeFi ecosystem, Eigen Labs wishes to further solidify its position as a top supplier of blockchain infrastructure solutions, as seen by the integration of Rio Network and EigenLayer technologies.
Eigen Labs has made a significant purchase that demonstrates the company’s dedication to promoting innovation and teamwork across the blockchain ecosystem. Eigen Labs will be able to take advantage of new opportunities to provide greater value to partners and the community by incorporating the capabilities of Rio Network.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
