EigenLabs, the team behind restaking protocol EigenLayer, closed its $50 million Series A funding round led by Blockchain Capital.
The yet-to-launch restaking protocol previously raised $14.5 million in a seed round led by Polychain Capital and Ethereal Ventures.
The startup was founded in 2021 by Sreeram Kannan, an assistant professor at the University of Washington, Seattle. It enables users to restake their ether and innovate at the consensus layer without needing to launch a whole new blockchain, the company said.
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