The new favorite of the bull market in 2024; the last train in the primary market this year; EigenLayer, why is it so popular? It makes Ethereum gnash its teeth and love and hate it!
Project Description
To put it simply, Eigenlayer is a re-staking protocol built on the Ethereum mainnet. It is essentially a platform. All Ethereum ecological projects that plan to use the POS consensus mechanism are its potential customers, such as Rollup, side chains, etc. It transfers the utility of the Ethereum consensus layer to various middleware, data availability layers, side chains and other protocols, allowing them to enjoy Ethereum-level security at a lower cost. EigenLayer aims to solve the fragmented security problem of decentralized applications built on Ethereum. It enables any service, regardless of its composition, to leverage the collective security provided by Ethereum stakeholders, creating an environment for permissionless innovation and free market governance.
Financing situation
On May 24, 2022, EigenLayer completed an angel round of financing. The specific amount was not disclosed. It was invested by dao5, cFund, Coinbase Ventures, etc.; on August 1, 2022, EigenLayer completed a seed round of financing of US$14.5 million, led by Polychain Capital and Ethereal Ventures. On March 28, 2023, EigenLayer completed a US$50 million Series A financing, led by Blockchain Capital, with participation from Coinbase Ventures, Polychain Capital, Bixin Ventures, Hack VC, Electric Capital, IOSG Ventures, etc. The valuation of this financing is US$3 billion
Team background
Professor behind EigenLabs secures $50M in funding, promises to upgrade Ethereum network
EigenLayer has a blockchain team focused on technological innovation, with 30 members, more than 80% of whom are engineers. Although the team is young, it has rich blockchain technology background and research experience, making it a vibrant and potential area. The blockchain team is worth paying attention to and looking forward to. Simply looking at the history of blockchain projects, most of the projects built by purely technical teams are very successful.
EigenLayer is a re-staking protocol developed by EigenLabs. EigenLabs is a laboratory focused on blockchain innovation and research, headquartered in Seattle, Washington, USA. EigenLabs founder Sreeram Kannan is an associate professor in the Department of Electrical and Computer Engineering at the University of Washington and the director of the UW Blockchain Lab.EigenLabs' team consists of 30 experts and enthusiasts from different fields and backgrounds, mainly engineers, including product managers, strategy directors, and legal advisors.