PANews reported on June 12 that according to official news, Eigen Labs announced the acquisition of the liquid re-staking network Rio Network. Eigen Labs said it will not build Liquid Retaking Token (LRT). Instead, Rio Network's code and intellectual property will be acquired by the Eigen Foundation and will be open sourced to better support the new and under-development LRT. The Rio team will join Eigen Labs and will focus on enhancing the EigenLayer ecosystem with other members of the Eigen Labs team.