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The company behind Ethereum re-staking protocol EigenLayer announced this week a $100 million investment from coveted venture firm Andreessen Horowitz. With this funding, EigenLayer joins a small group of companies that have cleared nine figures in venture rounds in the past few months, including Hong Kong exchange HashKey and interoperability platform Wormhole.
EigenLayer allows you to “re-stake” staked Ether to secure the Ethereum blockchain, or use it to secure other chains and services. A16z General Partner Ali Yahya said this vision of adding a revenue stream to Ethereum’s consensus mechanism “has the potential to change everything.”
read more: A16z injects $100 million into EigenLayer
Interestingly, protocols that hope to help build networks of other EigenLayer-secured chains and services are also attracting funding interest.
For example, AltLayer this week announced a $14.4 million funding round co-led by Polychain and Hack VC. AltLayer creates restaked rollups that apply EigenLayer’s mechanisms to Layer 2, which is used to batch transactions on the Ethereum blockchain.
AltLayer also helped EigenLayer provide its ErigenDA data availability services to Arbitrum.
Also this week, Binance Labs invested in Renzo, which aims to become EigenLayer’s security and risk management hub. We also offer liquid restaking tokens. Similar to Lido’s stETH, but for EigenLayer.
Reboot World, Polymer Labs, and Puffer are other examples of EigenLayer-adjacent projects that have secured funding in the past few weeks, as EigenLayer’s upward momentum appears to be lifting some boats.
Helius raises $9.5 million for Solana developer platform
Solana developer platform Helius this week announced a $9.5 million Series A led by Foundation Capital.
According to a press release, the startup aims to ease RPC node costs, data streaming, on-chain indexing, and more for developers. Last week, Blockworks reported that the job market for Solana-literate developers, who use a different coding language than Ethereum, is heating up.
read more: Cryptocurrency Recruitment Q&A: Cryptocurrency companies are looking for developers familiar with Solana
Helius will use the funding to hire low-level systems and backend engineers, the release said, adding that it will also use the new capital to strengthen its technology stack.
“[It] As a cryptocurrency developer, building fast, cheap, and scalable apps was (and still is) too difficult. Solana was the first real answer to this due to its scale and performance, but it was difficult to build while everyone ruled it out due to the huge amount of data and information asymmetry – I We have strengthened it from the ground up,” said Mert Mumtaz, co-founder of Helius. I have written With X.
Other notable fundraisers
- Gambling platform Monkey Tilt has raised $21 million from investors including Polychain and Hack VC.
- Hack VC announced that it has raised $150 million in funding for a cryptocurrency startup.
- Meso Network has announced a $9.5 million seed round to grow its platform that facilitates money transfers between banks and crypto wallets.
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