EigenLayer Developer Acquires Liquid Staking Network, Rio
CryptoNewsTerminal Staff13 Jun, 2024
EigenLayer Developer Acquires Liquid Staking Network, Rio
EigenLabs, the developer behind Ethereum (ETH) liquid staking protocol EigenLayer, announced via official channels that it is acquiring Rio Network, a self-described liquid staking network. The acquisition amount remains undisclosed. The acquisition of Rio by EigenLabs could be a strategic move to strengthen EigenLayer's presence in the liquid staking sector and expand its reach in the rapidly evolving decentralized finance (DeFi) ecosystem. EigenLayer allows users to stake their ETH assets without locking them into a smart contract, providing increased liquidity and flexibility. By incorporating Rio's technology, EigenLayer aims to enhance its liquid staking offerings and provide a more seamless user experience. The merger of EigenLayer and Rio could lead to the creation of a more robust and comprehensive liquid staking solution, potentially benefiting both protocols' users and the broader DeFi industry.
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