Eigen Labs acquires liquidity re-staking network Rio Network

Eigen Labs announced the acquisition of the liquidity re-pledging network Rio Network. The specific acquisition amount has not been disclosed. Eigen Labs stated that they did not create the Liquid Restaking Token (LRT). The code and intellectual property of Rio Network will be acquired by the Eigen Foundation and will be open-sourced. The Rio team will join Eigen Labs and work together with other members of the Eigen Labs team to focus on enhancing the EigenLayer ecosystem.