Latest news with #EigenLabs
Yahoo
09-07-2025
- Business
- Yahoo
Eigen Labs Axes 25% of Staff to Focus on Building EigenCloud
Eigen Labs cut its workforce by 25%, losing 29 roles, as CEO Sreeram Kannan said he restructured the company to focus on developing EigenCloud, what he called a 'verifiable' alternative to existing, opaque cloud services. The Seattle-based startup said the dismissals were not a cash-crunch response. The comany is backed by $220 million in venture funding, including a $100 million Series B round led by a16z in February that gave it a $1 billion valuation. "As difficult as these changes are, they sharpen our focus as a company and ensure our teams are structured to sustainably pursue a single, ambitious goal: to build the world's first verifiable cloud platform," Kannan said in a post on X. "We move forward with a tighter strategy, renewed energy, and a team laser-focused on our mission." EigenLayer, the restaking protocol that underpins the project, and its data-availability sibling EigenDA will remain online as part of EigenCloud, Kannan added in separate post. Employees leaving company will receive three months of pay, accelerated token vesting, continued health coverage, and help finding new jobs, he said. He also invited other crypto firms to recruit the departing staff, signaling a wish to keep talent inside the ecosystem. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-06-2025
- Business
- Yahoo
a16z Bets Big on EigenLayer Again With $70M Token Buy to Back ‘EigenCloud' Launch
Venture capital firm Andreessen Horowitz (a16z) has invested an additional $70 million in EigenLayer, Ethereum's largest restaking protocol, to support the launch of EigenCloud, a new platform offering 'verifiability-as-a-service' for developers, the companies said on Tuesday. The investment follows a16z's $100 million Series B in Eigen Labs in February 2024, and underscores its commitment to the project through its Crypto Fund IV. EigenLayer currently secures over $12 billion in restaked assets. EigenCloud allows developers to build trustless, verifiable applications that operate off-chain while anchoring trust and payments on the Ethereum blockchain. Companies like Securitize will use EigenCloud to verify asset pricing data for BlackRock's $2 billion BUIDL fund. The platform introduces new services, EigenVerify for dispute resolution and EigenCompute for offchain execution, alongside existing AVSs like EigenDA for data, the companies said. By transforming verifiability into a programmable cloud primitive, EigenCloud is targeting sectors like AI, media, betting markets, and enterprise software, as it aims to unlock a new wave of crypto-native and Web2-integrated applications. 'EigenCloud will enable the next generation of disruptive, mass-market crypto apps, closing the gap between what developers want to build onchain and what blockchains allow them to build,' said Sreeram Kannan, CEO of Eigen Labs, in the release. The alpha rollout includes performance upgrades, dispute tooling, and a developer roadmap for phased access.
Forbes
17-06-2025
- Business
- Forbes
Eigen Labs Raises $70 Million From A16z For EigenCloud Ethereum Tools
Big data structure concept. 3D render Eigen Labs has announced the launch of EigenCloud, a platform designed to extend blockchain-grade trust guarantees to any Web2 or Web3 application. The alpha version launch this week coincides with a fresh $70 million token purchase by a16z crypto, deepening its commitment following the firm's $100 million Series B investment in February 2024. The venture firm's direct purchase of EIGEN tokens indicates alignment with EigenLayer's token-centric economic model as EigenCloud usage will create new fee flows that can support staking rewards. The structure introduces a potential yield incentive for restakers, creating a feedback loop between application usage and network participation. EigenCloud is built atop EigenLayer's restaking protocol and integrates data availability (EigenDA), general-purpose compute (EigenCompute), and dispute resolution (EigenVerify) into a single developer-facing platform. These tools allow developers to cryptographically prove what happened off-chain, with the same trust guarantees traditionally reserved for on-chain activity. Restaking has emerged as a popular model for bootstrapping decentralized infrastructure. EigenLayer allows Ethereum stakers to 'restake' their ETH to secure third-party services, known as autonomous verifiable services. Over $12 billion in restaked assets are securing more than 200 AVSs across oracles, rollups, AI workflows, and decentralized middleware. EigenCloud's alpha rollout aligns with a performance upgrade for EigenDA, achieving throughput of 50 MB per second on Ethereum testnets. It also launches a gated preview of EigenVerify, designed to adjudicate disputes in off-chain systems like AI agents or prediction markets. Later this year, EigenCompute will provide verifiable general-purpose compute, enabling developers to anchor computation results with cryptoeconomic guarantees. The April activation of slashing marked a key step for EigenLayer, empowering AVSs to penalize misbehaving node operators. This capability allows EigenCloud to extend L1-like guarantees beyond traditional blockchains into areas like medical records, machine learning inference, and Web2 marketplaces, domains where trust and correctness are paramount. EigenCloud reframes the blockchain from a transaction ledger into a programmable trust engine. By packaging verifiability as modular primitives, Eigen Labs aims to offer an on-chain alternative to cloud services like AWS or Google Cloud, but with built-in accountability. This concept, dubbed 'verifiability-as-a-service,' introduces a new economic flywheel for the EIGEN token. As applications consume services like EigenVerify or EigenCompute, they generate usage fees payable in EIGEN, which will be used to support stakers, fund incentives and develop other innovations. While pricing and metering models for EigenCompute have yet to be disclosed, the structure positions verifiability itself as a billable digital resource. While EigenLayer dominates the restaking narrative, competitors like Celestia (modular data availability), Story Protocol (on-chain IP verification), and Optimism's Cannon (fraud-proof generation) are also pushing toward verifiable infrastructure. EigenCloud's differentiation lies in its unification of data, compute, and dispute resolution into a single trust layer, which is an approach more akin to cloud-native full-stack development than blockchain tooling. That said, key questions remain as slashing is still optional for AVSs, raising concerns about enforcement consistency. Meanwhile, regulatory guidance on verifiability protocols, especially in AI, healthcare, and finance, remains sparse. Sreeram Kannan, CEO of Eigen Labs, forsees EigenCloud as a key piece in the puzzle for bringing blockchain into traditional app development. Kannan commented, Joe Lubin, co-founder of Ethereum and CEO of Consensys, added that verifiability is 'becoming a foundational building block of the internet,' and praised EigenCloud as a meaningful leap toward a more trustworthy digital stack. Ali Yahya, General Partner at a16z crypto, echoed the sentiment, commenting, 'EigenLayer is surmounting the technical bottlenecks of blockchains to enable a new category of applications built on verifiable solutions.' Access to EigenCloud is currently being rolled out to select developers, with broader availability planned for late 2025. An ambitious roadmap includes extended developer tooling, additional slashing mechanisms, and streamlined deployment flows for AVSs. As crypto enters what many call its 'app era,' Eigen Labs is betting that verifiability will be the feature that unlocks mass developer engagement, and a new generation of use cases beyond tokens and DeFi.
Forbes
17-06-2025
- Business
- Forbes
EigenLabs Redefines Ethereum Restaking With EigenCloud, Fueled by $70M From a16z
Big data structure concept. 3D render Eigen Labs has announced the launch of EigenCloud, a platform designed to extend blockchain-grade trust guarantees to any Web2 or Web3 application. The alpha version launch this week coincides with a fresh $70 million token purchase by a16z crypto, deepening its commitment following the firm's $100 million Series B investment in February 2024. The venture firm's direct purchase of EIGEN tokens indicates alignment with EigenLayer's token-centric economic model as EigenCloud usage will create new fee flows that can support staking rewards. The structure introduces a potential yield incentive for restakers, creating a feedback loop between application usage and network participation. EigenCloud is built atop EigenLayer's restaking protocol and integrates data availability (EigenDA), general-purpose compute (EigenCompute), and dispute resolution (EigenVerify) into a single developer-facing platform. These tools allow developers to cryptographically prove what happened off-chain, with the same trust guarantees traditionally reserved for on-chain activity. Restaking has emerged as a popular model for bootstrapping decentralized infrastructure. EigenLayer allows Ethereum stakers to 'restake' their ETH to secure third-party services, known as autonomous verifiable services. Over $12 billion in restaked assets are securing more than 200 AVSs across oracles, rollups, AI workflows, and decentralized middleware. EigenCloud's alpha rollout aligns with a performance upgrade for EigenDA, achieving throughput of 50 MB per second on Ethereum testnets. It also launches a gated preview of EigenVerify, designed to adjudicate disputes in off-chain systems like AI agents or prediction markets. Later this year, EigenCompute will provide verifiable general-purpose compute, enabling developers to anchor computation results with cryptoeconomic guarantees. The April activation of slashing marked a key step for EigenLayer, empowering AVSs to penalize misbehaving node operators. This capability allows EigenCloud to extend L1-like guarantees beyond traditional blockchains into areas like medical records, machine learning inference, and Web2 marketplaces, domains where trust and correctness are paramount. EigenCloud reframes the blockchain from a transaction ledger into a programmable trust engine. By packaging verifiability as modular primitives, Eigen Labs aims to offer an on-chain alternative to cloud services like AWS or Google Cloud, but with built-in accountability. This concept, dubbed 'verifiability-as-a-service,' introduces a new economic flywheel for the EIGEN token. As applications consume services like EigenVerify or EigenCompute, they generate usage fees payable in EIGEN, which will be used to support stakers, fund incentives and develop other innovations. While pricing and metering models for EigenCompute have yet to be disclosed, the structure positions verifiability itself as a billable digital resource. While EigenLayer dominates the restaking narrative, competitors like Celestia (modular data availability), Story Protocol (on-chain IP verification), and Optimism's Cannon (fraud-proof generation) are also pushing toward verifiable infrastructure. EigenCloud's differentiation lies in its unification of data, compute, and dispute resolution into a single trust layer, which is an approach more akin to cloud-native full-stack development than blockchain tooling. That said, key questions remain as slashing is still optional for AVSs, raising concerns about enforcement consistency. Meanwhile, regulatory guidance on verifiability protocols, especially in AI, healthcare, and finance, remains sparse. Sreeram Kannan, CEO of Eigen Labs, forsees EigenCloud as a key piece in the puzzle for bringing blockchain into traditional app development. Kannan commented, Joe Lubin, co-founder of Ethereum and CEO of Consensys, added that verifiability is 'becoming a foundational building block of the internet,' and praised EigenCloud as a meaningful leap toward a more trustworthy digital stack. Ali Yahya, General Partner at a16z crypto, echoed the sentiment, commenting, 'EigenLayer is surmounting the technical bottlenecks of blockchains to enable a new category of applications built on verifiable solutions.' Access to EigenCloud is currently being rolled out to select developers, with broader availability planned for late 2025. An ambitious roadmap includes extended developer tooling, additional slashing mechanisms, and streamlined deployment flows for AVSs. As crypto enters what many call its 'app era,' Eigen Labs is betting that verifiability will be the feature that unlocks mass developer engagement, and a new generation of use cases beyond tokens and DeFi.
