According to Foresight News, Eigen Labs, the development company behind Eigenlayer, has announced the acquisition of the liquidity re-pledging network, Rio Network. The specific purchase price has not been disclosed.
Eigen Labs has stated that it has not built a Liquid Restaking Token (LRT). The code and intellectual property rights of Rio Network will be acquired by the Eigen Foundation and will be open-sourced. This move is aimed at better supporting the new and developing LRT.
The Rio team will join Eigen Labs and will work with other members of the Eigen Labs team to focus on enhancing the Eigenlayer ecosystem.