Institutional Backing in the Race of Rehypothecation! a16z Invests $100 Million in EigenLayer, Binance Announces Investment in Renzo Liquidity Rehypothecation Protocol

Institutional Backing in the Race of Rehypothecation! a16z Invests $100 Million in EigenLayer, Binance Announces Investment in Renzo Liquidity Rehypothecation Protocol

Institutional Backing in the Race of Rehypothecation! a16z Invests $100 Million in EigenLayer, Binance Announces Investment in Renzo Liquidity Rehypothecation Protocol

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a16z Invests £100 Million in EigenLayer
Liquidity Rehypothecation Protocol Renzo Receives Investment from Binance Labs
Participate in Puffer and Renzo Incentive Programs to Earn Token Airdrops

According to Bloomberg’s report, Ethereum rehypothecation protocol EigenLayer has secured a series B funding led by renowned venture capital firm Andreessen Horowitz (a16z). The report states that a16z has injected $100 million into this funding round.

In an open letter published on the X platform, Ali Yahya, a general partner at a16z crypto, wrote that EigenLayer is a decentralized and market-driven mechanism that expands the capabilities of Ethereum. It has the potential to achieve 100 times the innovation speed in consensus mechanisms, new virtual machines, decentralized oracles, cross-chain bridges, and networks equipped with dedicated hardware, just like Ethereum achieved 100 times the innovation speed by introducing smart contracts at the application logic level.

On the other hand, Renzo, a liquidity rehypothecation protocol built on EigenLayer, has reportedly received investment from Binance Labs. Binance announced this news in an official statement but did not disclose the specific investment amount. He Yi, Co-founder of Binance and Head of Binance Labs, commented that it is worth mentioning that Renzo is not the first liquidity rehypothecation protocol invested in by Binance. Previously, Binance Labs also announced its investment in another project called Puffer, demonstrating Binance’s confidence in the development potential of the liquidity rehypothecation track.

Both Puffer and Renzo are currently the second and fourth largest liquidity rehypothecation protocols in the market and are conducting incentive programs.

Users can earn project tokens and EigenLayer tokens by depositing ETH/stETH, enabling them to receive two types of token airdrops (EigenLayer + project tokens) in the future.