a16z’s crypto venture arm has invested $100 million in EigenLayer, a crypto startup specializing in the “restaking” of ether. The functionality, allowable by virtue of ethereum’s proof of stake (PoS) mechanism, allows ethereum holders and network validators to mitigate the opportunity costs of having their originally staked ether committed to just one project. EigenLayer acts as the marketplace that facilitates the restaking to other networks, earning rewards for investors.
A16z Invests $100M in Crypto Startup EigenLayer
