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EigenLayer
Ethereum restaking infrastructure
- 1-20 employees
- B2C
- B2B
- Marketplace
- Blockchain
- Web 3.0
- Education Hill, Redmond, WA
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Company mission
To provide cryptoeconomic security for services and companies in modular blockchain layers.
Our take
Ethereum was the first blockchain to utilise modular technology allowing developers to innovate more easily, but it comes at a high cost. Blockchain project protocols are typically secured by their own tokens, leaving too few resources for those protocols to grow, and the limited Ethereum supply means that the currency isn't generally available for that purpose. EigenLayer seeks to fix this by providing a "re-staking" service, allowing Ethereum that is already being used as proof-of-stake to be used again to secure other assets, yielding higher returns and reducing a trust bottleneck that holds back new protocols and decentralised app development.
As a novel infrastructure development that makes use of existing but untapped blockchain functionality (for instance, Eigenlayer is able to utilise unused block capacity, a valuable resource in the Ethereum blockchain), this startup is making waves in a sector that has recently been buffeted by the fallout from the FTX collapse. As a sign of its promise EigenLayer is raising Series A funding which will be used to further develop the product and hire on additional engineering talent. An exciting company that promises to greatly boost Ethereum's functionality in the near future, EigenLayer is set to grow a very significant business in the Web 3 space.
Steph
Company Specialist at Welcome to the Jungle
Funding (last 2 of 3 rounds)
Feb 2024
$100m
EARLY VC
Feb 2023
$50m
SERIES A
Total funding: $164.4m
This company has top investors
Leadership
Sreeram Kannan
(CEO)Prior to founding Eingenlayer worked in academia as an Associate Professor at the Unversity of Washington and a Postdoctoral Fellow at UC Berkeley.