Coin overview
EIGEN
Ended--
Last price (USDT)
171.76K
24h total (USDT)
739.77K
Total vol (USDT)
2024-04-30 09:00:00 ~ 2024-10-01 03:30:00
Trading time (UTC+0)
2024-10-01 09:00:00
Delivery time (UTC+0)
Total supply1.73B
Resources
Introduction
EigenLayer is a protocol built on Ethereum that introduces re-staking, allowing users who have staked $ETH to join the EigenLayer smart contract to re-stake their $ETH and extend cryptoeconomic security to other applications on the network. As a platform, EigenLayer, on one hand, raises assets from LSD asset holders, and on the other hand, uses the raised LSD assets as collateral to provide middleware, side chains, and rollups with AVS (Active Verification Service) needs. The convenient and low-cost AVS service itself provides demand matching services between LSD providers and AVS demanders, while a specialized pledge service provider is responsible for specific pledge security services. EIGEN total supply: 1.67 billion tokens
Inception Protocol to Cease Operations Amid Market Challenges
Key Takeaways: Inception Protocol ends operations, citing unsustainable liquidity. Fund withdrawals encouraged before September 1, 2025. Closure reflects broader challenges in the DeFi restaking sector. Inception Protocol to Cease Operations Amid Market Challenges Lede: Inception Protocol, built on the EigenLayer, announced it will cease operations by July 2025, urging users to withdraw assets by September 1. Nut Graph: Inception Protocol’s shutdown highlights challenges faced by decentralized finance networks, affecting market liquidity and restaking assets. Operational Challenges The Inception Protocol was designed to promote liquidity efficiency using EigenLayer , focusing on liquid staked ETH derivatives. Despite these efforts, it struggled with finding a product market fit , leading to its decision to wind down. “We aimed to create a decentralized, permissionless, and curator-led protocol that was aligned with the Ethereum ethos. But despite the progress, Inception did not find product market fit…lack of liquid rewards in shared security made the path forward unsustainable for the protocol.” — Inception Protocol Team, Official Team Statement Operating on EigenLayer and affected by the DeFi ecosystem, Inception Protocol urged users to withdraw their funds, ensuring safety via a full snapshot of user positions. This decision comes amid a wider downturn impacting the crypto industry. Impact on Restaking The shutdown affects restaking-related assets like stETH, rETH, and cbETH, pushing liquidity back to users. Investors and users may face potential market volatility, raising concerns about the broader implications of DeFi restaking. With industry echoes resonating through crypto markets, financial backers are reevaluating investments. Technical innovation remains acknowledged but does not counterbalance the challenge of sustainable growth, raising potential interest in regulatory perspectives and future technological adaptations. Broader Industry Implications The closure of Inception Protocol signals the liquidity and adoption challenges faced by similar entities, pressing for a strategic overhaul within the DeFi restaking sphere.
InceptionLRT shuts up shop after $3.5M raise in January
InceptionLRT, a protocol that is meant to push the boundaries of decentralized infrastructure, has announced it is shutting down operations, just six months after raising $3.5 million in seed funding. InceptionLRT’s news came via a post on X (formerly Twitter), where the team said it had made the “difficult decision” to sunset the project after falling short of product–market fit. Despite the closure, InceptionLRT stated that all user funds are safe. Withdrawals remain open through the project’s dashboard, and a full snapshot of user positions has been taken to ensure that any unmaterialized rewards are accounted for. “We recommend retrieving any deposited funds at your earliest convenience,” the team said, urging users to act before September 1 . A polished protocol, but no staying power From the start, InceptionLRT aimed high, offering a decentralized, permissionless way for users to restake assets and access reward-bearing tokens across DeFi. The protocol launched more than 15 liquid restaking tokens (LRTs), integrated with over 60 DeFi platforms, and passed eight independent security audits. The infrastructure was ready; however, the users didn’t come. Inception did not fail for a lack of support, as its January 2025 seed round raised about $3.5 million, with backing from a who’s who of crypto investors. According to data on CypherHunter , participants included BlackDragon, Chorus Ventures, DEXTForce Ventures, GAINS Associates, DSRV Labs, The Rollup Ventures, DuckDAO, and CSP DAO, alongside high-profile angels such as Rachid Ajaja, Josh Hannah, Tal Cohen, and others. See also Euro rally accelerates as Trump’s policies tilt currency dynamics But funding only gets you so far. Without enough liquidity incentives, the team couldn’t make restaking appealing beyond a small niche of power users. The restaking space is still finding its feet InceptionLRT’s shutdown comes during a transitional period for the restaking ecosystem. Leading protocols like EigenLayer , Symbiotic, and Ether.fi are still in the thick of building out markets where staked assets can be reused for additional layers of security. In theory, restaking increases capital efficiency and network resilience. In practice, it’s not that straightforward. Inception’s experience, strong tech, real integrations, yet limited traction, highlights just how tricky it can be to balance innovation with usability and incentives. The team isn’t pulling the plug abruptly. Instead, they’ve left the protocol running so users can withdraw their funds safely. For now, InceptionLRT will be remembered as one of the most promising restaking projects that couldn’t quite stick the landing. It adds to the growing list of teams who aimed to build the financial infrastructure of the future—and learned, in real time, how hard that still is to do. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
Inception, a restaking protocol built on EigenLayer, announces cessation of operations
ChainCatcher reports that the restaking protocol Inception, built on EigenLayer, has announced it will cease operations. According to the announcement, Inception has not found a suitable product-market fit over the past two years. In addition, the lack of liquidity incentives in shared security has made it difficult for the protocol to move forward. As previously reported by ChainCatcher, the decentralized liquidity restaking protocol Inception announced the completion of a $3.5 million seed round, with participation from London Real Ventures, Gallet Capital, Metazero Capital, Kinetic Kollective, Zephyrus Capital, DSRV, Dewhales, Connectico Capital, Unreal Capital, Absoluta Digital, and others. The new funding was intended to support the development of a modular risk management framework, enabling users to select reward-generating assets to maximize points rewards and the utility of liquid staking tokens (LSTs).
Eigen Labs cuts 25% of its team to prioritize focus on EigenCloud
Eigen Labs reduces staff by 25% and focuses on EigenCloud Layoffs accompany strategic shift to cloud-based services EigenCloud Unites Data, Verification, and Computation with Ethereum Eigen Labs, the developer behind the Ethereum EigenLayer protocol, has confirmed a restructuring that has resulted in the layoff of 29 employees—approximately 25% of its workforce. The decision, according to the company, is part of a plan to reallocate efforts and focus development on the EigenCloud cloud services platform. The announcement was made by Sreeram Kannan, CEO of Eigen Labs, in a post on X. "This morning, I shared plans for a company restructuring, streamlining our operations and focusing our efforts on building and expanding EigenCloud. Sadly, this means saying goodbye to brilliant colleagues who contributed to the project with passion, integrity, and vision," he stated. Today is one of the hardest days we've had at Eigen Labs. This morning, I shared plans for a restructuring of the company, streamlining our operations, and concentrating our efforts on building and scaling EigenCloud. Unfortunately, this means saying goodbye to brilliant… — Sreeram Kannan (@sreeramkannan) July 8, 2025 The move comes weeks after a16z crypto invested an additional $70 million in EIGEN tokens to support the launch of EigenCloud. The platform is designed to provide trusted infrastructure for Web2 applications with verifiability guaranteed by Ethereum blockchain mechanisms. EigenCloud combines several components: EigenDA, focused on data storage and availability; EigenVerify, which handles dispute resolution; and EigenCompute, responsible for executing transactions. The combination of these services creates a programmable and secure environment, especially geared towards developers seeking integration with the Ethereum ecosystem. According to Kannan, the redesign is aimed at ensuring that teams are aligned with a clear strategic purpose. “As difficult as these changes are, they sharpen our focus as a company and ensure that our teams are structured to sustainably pursue a single, ambitious goal: building the world’s first verifiable cloud platform,” he said. With this, Eigen Labs aims to consolidate its position in an increasingly competitive sector, betting on the potential of Ethereum and the growing demand for decentralized solutions that offer scalability and transparency in the use of data and cloud computing. Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss. Tags: Eigen Labs
Myriad Protocol May Expand Prediction Markets Across Chains with Linea Integration and EigenCloud Features
Myriad Protocol launches a multichain prediction market platform powered by EigenCloud, aiming to revolutionize decentralized forecasting across digital ecosystems. With the integration of Linea, an Ethereum Layer 2 solution by Consensys, Myriad enhances on-chain experiences by enabling seamless prediction market adoption on multiple chains. According to COINOTAG, “Myriad’s progressive decentralization and trustless revenue sharing mechanisms position it as a foundational infrastructure for future digital engagement.” Myriad Protocol introduces a multichain prediction market powered by EigenCloud and Linea, enhancing decentralized engagement with trustless revenue sharing and censorship-resistant oracles. Myriad Protocol’s Multichain Expansion with EigenCloud and Linea Integration The Myriad Protocol has officially transitioned from its beta phase to a fully-fledged multichain prediction market platform, leveraging the robust capabilities of EigenCloud. This upgrade marks a significant milestone, enabling trustless revenue sharing through AVS claim validation and the deployment of censorship-resistant oracles. The integration with Linea, an Ethereum Layer 2 network developed by Consensys, further amplifies Myriad’s reach by providing scalable, low-cost on-chain interactions. Linea’s vision to “empower the world to live on-chain” aligns seamlessly with Myriad’s goal to embed prediction markets ubiquitously across digital platforms. Technical Innovations Driving Myriad’s Decentralized Prediction Markets At the core of Myriad’s architecture lies EigenCloud, a decentralized infrastructure designed to facilitate synthetic tokens representing stablecoin TVL positions. These tokens can be restaked into EigenLayer, generating additional yield for users. This approach not only enhances liquidity but also incentivizes participation through innovative yield mechanisms. The protocol’s commitment to a unified liquidity hub across all EVM-compatible chains promises seamless interoperability, reducing friction for developers and users alike. Upcoming technical disclosures will detail these implementations, highlighting Myriad’s dedication to transparency and community-driven governance. Building a Decentralized Ecosystem for Prediction Markets Myriad’s strategy extends beyond technology; it encompasses ecosystem growth through strategic partnerships and media collaborations. By integrating with platforms like COINOTAG and Rug Radio, Myriad demonstrates practical use cases where prediction markets enhance content engagement and revenue generation. The protocol’s design philosophy emphasizes accessibility, ensuring that prediction markets are embedded where users already engage, thus driving adoption organically. As governance transitions progressively to the community, Myriad aims to establish a transparent and reliable oracle system that guarantees the integrity of market outcomes. Future Outlook: Expanding Reach and Adoption While Linea represents a pivotal launch point, Myriad Protocol’s roadmap includes onboarding additional chains and collaborating with diverse application developers and media entities. This expansion will solidify prediction markets as a fundamental internet feature, supported by the native Myriad Token. Although the token is not yet live for trading, its eventual deployment will underpin the protocol’s economic incentives and governance framework, fostering a sustainable and vibrant ecosystem. Conclusion The Myriad Protocol’s evolution from beta to a multichain platform powered by EigenCloud and Linea marks a transformative step in decentralized prediction markets. By combining technical innovation with strategic ecosystem development, Myriad is poised to make prediction markets accessible, transparent, and integral to digital engagement. Stakeholders and developers are encouraged to follow upcoming announcements and explore integration opportunities as the protocol advances toward full decentralization and broader adoption. In Case You Missed It: BONK Price May Find Support Near $0.000020 Amid Profit Booking, Bulls Eye $0.000026 Resistance
Eigen Labs Layoffs: A Bold Strategic Shift Towards Decentralized Cloud Innovation
The cryptocurrency world is no stranger to rapid evolution and strategic pivots. Recently, news broke that sent ripples through the community: Eigen Labs layoffs. The developer behind the highly anticipated EigenLayer protocol announced a significant reduction in its workforce, letting go of 29 employees, which constitutes 25% of its total staff. While layoffs often signal financial distress, Eigen Labs clarified that this decision was not driven by economic hardship but rather a deliberate strategic realignment. What does this mean for the future of restaking, decentralized cloud, and the broader crypto industry trends? Understanding the Eigen Labs Layoffs: A Strategic Reorientation When a prominent player like Eigen Labs makes such a move, it’s crucial to look beyond the immediate headlines. The company, a major force in the Ethereum ecosystem, stated that these personnel changes are designed to sharpen their focus on EigenCloud, their ambitious decentralized cloud platform. This reorientation suggests a clear shift in priorities, aiming to concentrate resources on a specific, high-potential area within their development pipeline. Key details surrounding the layoffs: Number of Employees Affected: 29 individuals. Percentage of Workforce: Approximately 25%. Stated Reason: Not financial difficulties, but a strategic pivot towards EigenCloud. Source: Reported by Blockworks. This strategic move highlights a common theme in the tech and crypto sectors: the need for agility and focused execution. Companies often streamline operations to dedicate more bandwidth to core projects they believe will drive future growth and innovation. What is the EigenLayer Protocol, and Why is it Important? Before diving into EigenCloud, it’s essential to understand the foundation Eigen Labs has built: the EigenLayer protocol. EigenLayer is a groundbreaking restaking primitive on Ethereum, designed to extend Ethereum’s security to other decentralized applications (dApps) and middleware services. It allows staked ETH to be ‘restaked’ to secure additional networks, effectively creating a shared security layer. This mechanism offers several compelling benefits: Enhanced Security: By leveraging Ethereum’s massive staked capital, EigenLayer can provide robust security guarantees to new protocols without requiring them to bootstrap their own validator sets. Capital Efficiency: Stakers can earn additional yield by restaking their ETH, making their capital more productive. Innovation Hub: It enables a new wave of ‘Actively Validated Services’ (AVSs) – decentralized applications that rely on EigenLayer for their security, fostering rapid innovation in the blockchain space. The EigenLayer protocol has garnered immense attention and capital, becoming one of the most significant innovations in the Ethereum ecosystem. Its success underscores Eigen Labs’ capability to develop complex, impactful blockchain infrastructure. Diving into EigenCloud: The Future of Decentralized Cloud Computing? With the Eigen Labs layoffs, the spotlight now firmly shines on EigenCloud. But what exactly is EigenCloud, and why is Eigen Labs committing so many resources to it? While specific details are still emerging, the vision for EigenCloud is to build a robust, decentralized cloud computing platform. Imagine a cloud service that isn’t reliant on a single corporate entity like Amazon Web Services (AWS) or Google Cloud, but rather operates on a distributed network, leveraging blockchain principles for security, transparency, and censorship resistance. The concept of decentralized cloud is not new, but Eigen Labs’ approach, potentially integrating with the EigenLayer restaking mechanism, could be revolutionary. Key aspects of a decentralized cloud platform often include: Distributed Infrastructure: Resources (compute, storage, bandwidth) are provided by a network of participants rather than centralized data centers. Enhanced Privacy and Security: Data is encrypted and distributed, reducing single points of failure and attack vectors. Censorship Resistance: No single entity can shut down or control access to the services. Cost Efficiency: Potentially lower costs due to peer-to-peer resource sharing and reduced overhead. If EigenCloud successfully leverages the power of restaked ETH and the decentralized validator set, it could offer a compelling alternative for developers and enterprises seeking more resilient, transparent, and secure cloud infrastructure. This strategic pivot signals Eigen Labs’ belief that decentralized cloud computing is the next frontier for blockchain technology. What Does This Mean for Crypto Industry Trends? The strategic shift at Eigen Labs is more than just an internal company matter; it reflects broader crypto industry trends. We are seeing a maturation of the blockchain space, moving beyond just speculative assets to building real-world utility and infrastructure. The focus on decentralized cloud computing suggests a growing demand for scalable, secure, and censorship-resistant alternatives to traditional cloud services. This move could catalyze several trends: Infrastructure Focus: A renewed emphasis on foundational infrastructure that supports a wider range of dApps and services. Real-World Applications: Blockchain technology moving into practical, enterprise-level solutions beyond just DeFi and NFTs. Competition with Web2 Giants: Decentralized solutions directly challenging the dominance of traditional tech giants in cloud computing. Talent Reallocation: A potential shift in talent and investment towards projects focused on decentralized compute and storage. The decision to streamline operations and focus on EigenCloud also highlights the intense competition and high stakes in the blockchain development space. Companies must make tough choices to allocate resources where they believe they can make the most significant impact. Challenges and Opportunities for EigenCloud While the vision for EigenCloud is exciting, the path to a fully functional and widely adopted decentralized cloud platform is fraught with challenges. However, it also presents immense opportunities. Potential Challenges: Scalability: Ensuring the platform can handle large volumes of data and computational tasks efficiently. Performance: Matching or exceeding the speed and reliability of centralized cloud providers. User Adoption: Convincing developers and businesses to switch from established, familiar cloud services. Security Risks: Mitigating new attack vectors inherent in decentralized systems. Regulatory Landscape: Navigating evolving regulations around decentralized services. Resource Provisioning: Incentivizing enough participants to provide consistent and high-quality compute and storage resources. Immense Opportunities: Enhanced Resilience: A truly decentralized cloud would be far more resistant to outages and censorship. Cost Reduction: Potentially lower operational costs for users due to a more efficient resource market. Innovation Playground: A new paradigm for building dApps that require robust, decentralized backend infrastructure. Data Sovereignty: Greater control for users over their data, reducing reliance on centralized entities. New Revenue Streams: For those participating in providing resources to the EigenCloud network. The success of EigenCloud will depend on Eigen Labs’ ability to overcome these technical and adoption hurdles, turning the vision of a decentralized cloud into a practical reality. What Actionable Insights Can We Glean from Eigen Labs’ Strategic Pivot? The Eigen Labs layoffs and subsequent strategic shift offer valuable lessons for everyone involved in the crypto space, from investors to developers and enthusiasts: Focus is Key: Even well-funded projects need to prioritize. Spreading resources too thin can hinder progress. Adaptability is Crucial: The crypto industry is dynamic. Companies must be willing to pivot and reallocate resources based on market needs and technological advancements. Utility-Driven Development: The move towards decentralized cloud highlights a growing emphasis on building tangible, utility-driven infrastructure rather than just speculative assets. Long-Term Vision: While restaking is significant, Eigen Labs is looking beyond immediate gains to build foundational technology for the future internet. Market Maturation: Such strategic decisions indicate a maturing market where efficiency and clear product roadmaps are increasingly valued. For investors, this could mean looking for projects with clear roadmaps and a strong focus on a specific problem or utility. For developers, it suggests that building robust, scalable infrastructure will be increasingly important. A Compelling Future: Decentralized Cloud and Beyond The decision by Eigen Labs to undertake these layoffs and reorient its focus towards EigenCloud is a bold statement. It signifies a belief in the transformative potential of decentralized cloud computing and a commitment to being at the forefront of this emerging sector. While the EigenLayer protocol remains a critical component of their ecosystem, the enhanced focus on EigenCloud suggests a strategic doubling down on what they perceive as the next major leap for blockchain technology. This move, while challenging for those affected by the layoffs, could ultimately pave the way for significant advancements in how we interact with and build on decentralized networks, shaping the future of crypto industry trends for years to come. To learn more about the latest crypto industry trends, explore our article on key developments shaping decentralized cloud infrastructure and its potential impact on the broader blockchain ecosystem.
Eigen Labs announces approximately 25% layoffs, shifts business focus to EigenCloud
According to ChainCatcher, as reported by Blockworks, Eigen Labs has announced layoffs of approximately 25% (29 employees) and will shift its business focus to EigenCloud. EigenCloud, launched last month, is a developer platform focused on both off-chain and on-chain verification. a16z has announced a $70 million investment in the company, bringing its total funding to $220 million, including $50 million from its Series A round in 2023.
Eigen Labs lays off 25% of workforce to focus on EigenCloud: report
Eigen Labs, the core development team behind Ethereum restaking project EigenLayer, has laid off roughly 25% of its workforce to shift focus to EigenCloud. Blockworks reported Tuesday that Eigen Labs laid off 29 employees or about a quarter of the workforce. The project has confirmed the news with The Block. "This morning, I shared plans for a restructuring of the company, streamlining our operations, and concentrating our efforts on building and scaling EigenCloud," Eigen Labs CEO Sreeram Kannan said Tuesday in a post on X. "Unfortunately, this means saying goodbye to brilliant colleagues who’ve contributed to the project with passion, integrity, and vision." Eigen Labs' layoff comes after a16z crypto purchased an additional $70 million worth of EIGEN tokens to help support the launch of EigenCloud last month. EigenCloud, which launched last month, integrates key services — including EigenDA for data, EigenVerify for dispute resolution, and EigenCompute for execution — into a unified, programmable platform. Essentially, the platform aims to allow developers to create trustless Web2 applications with blockchain-level verifiability, according to the team. "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," said Kannan.
DeFi TVL breaks above $116B as lending roars back
The DeFi market has rebounded at the beginning of July, with total value locked (TVL) rising to $116.416 billion, a level last seen in April. The 24-hour increase of 4.95% reflects rising crypto asset prices and renewed deposit flows into lending protocols, restaking services, and yield-bearing primitives. As Ethereum and Solana continue to absorb most DeFi capital, restaking-led protocols such as EigenLayer and ether.fi have positioned themselves as structural pillars of on-chain liquidity. At the top of the DeFi leaderboard, AAVE has reasserted its position as the dominant money market with $25.871 billion in locked value across 18 chains. The platform’s 2.62% month-on-month increase reflects user preference for maturity, scale, and liquidity depth, especially during periods of rising ETH borrowing costs. AAVE now holds over 22% of the TVL across DeFi, outpacing Lido and other restaking alternatives. Lending has emerged as one of the most stable categories within DeFi, bolstered by protocols like Morpho, which posted a 25.35% monthly gain. Morpho’s traction is closely tied to its hybrid peer-to-peer lending structure and increased collateral caps, particularly for stETH. Its rapid ascent to $4.498 billion in TVL places it just outside the top 10 and firmly above legacy competitors like JustLend and Pendle. Meanwhile, Pendle, which enables tokenized fixed-yield strategies, recorded a monthly increase of 11.71% to $4.822 billion. The continued appetite for principal-token and yield-token separation, especially in a market with few new lending primitives, shows the persistent demand for yield certainty, even if duration risk remains. # Protocol TVL 1M Change Mcap/TVL 1 AAVE $25.871b +2.62% 0.16 2 Lido $23.614b +0.80% 0.03 3 EigenLayer $12.145b +7.41% 0.03 4 Binance staked ETH $7.186b +14.16% – 5 ether.fi $6.72b +0.11% 0.06 6 Spark $6.353b +5.30% 0.01 7 Ethena $5.464b −5.74% 0.32 8 Sky $5.368b +1.90% 0.33 9 Uniswap $5.021b +1.56% 0.92 10 Babylon Protocol $4.879b +0.32% 0.02 11 Pendle $4.822b +11.71% 0.12 12 Morpho $4.498b +25.35% – 13 JustLend $3.722b +9.88% 0.09 14 Veda $3.58b +35.86% – 15 BlackRock BUIDL $2.832b −2.32% 1.01 The Ethereum-native restaking ecosystem remains one of the few areas in DeFi attracting fresh capital. EigenLayer, with $12.145 billion in TVL, saw a 7.41% increase over the past month despite winding down parts of its points program. That increase shows its growing role as a collateral foundation for actively validated services (AVSs) and shared security mechanisms. Another player in the restaking niche, ether.fi, maintained its position with $6.72 billion, though its 0.11% growth over the past month signals a plateau following the rapid accumulation seen in Q2. Combined, EigenLayer and ether.fi now control over $18.8 billion, accounting for more than 16% of all DeFi capital, rivaling the entire TVL of Lido and Tron’s entire DeFi stack. One notable outlier is Ethena, which saw a 5.74% decrease in TVL to $5.464 billion. The drawdown likely reflects redemptions of sUSDe and waning short-term enthusiasm for synthetic dollar yields after months of explosive growth. With Mcap/TVL now at 0.32, Ethena still holds a premium valuation, but the market appears to be cycling some capital into more sustainable yield venues. The performance of BlackRock’s BUIDL token, while down 2.32% over the month, is a perfect example of the role real-world assets (RWAs) play in anchoring capital during volatile periods. With a Mcap/TVL ratio of 1.01, the fund remains fully backed by tokenized Treasury bills and shows little deviation in either direction. BUIDL’s $2.832 billion in TVL makes it the fifteenth-largest protocol in DeFi and the largest tokenized RWA instrument to date. The marginal drawdown mirrors recent weakness in Treasury prices, rather than protocol issues. With yields climbing again on the front end of the curve, the question remains whether demand for tokenized RWAs can outpace capital rotation into higher-yield on-chain instruments. Last week showed the convergence of spot and perpetual DEX volumes, which landed at $13.653 billion and $13.084 billion, respectively. This parity is unusual, as perpetual markets typically outpace spot by a wide margin, and may indicate a healthy shift toward hedging activity or organic demand for base-layer assets. In previous periods of market euphoria, perpetual volumes often inflated disproportionately, driven by leverage-fueled speculation. The current ratio suggests more disciplined capital deployment, which could reflect the influence of larger players and more risk-aware strategies dominating DEX activity. Ethereum continues to dominate DeFi TVL with $65.035 billion, representing over 55% of total locked value. Its 1-day (+6.42%) and 7-day (+6.21%) changes show strong and consistent inflows driven by asset appreciation and deposit migration back to L1 vaults. Solana now commands $8.768 billion in DeFi TVL, a 5.67% 7-day increase. The chain continues to benefit from a resurgence in institutional and retail interest, likely supported by recent spot SOL ETF approvals in Canada and growing NFT activity. With several top-performing DEXs and yield farms, Solana has grown its share to 7.5%, the highest since Q1 2024. Other networks, such as Base (+5.40% daily) and Sui (+9.77% daily), posted sharp one-day gains, hinting at new capital rather than just price effects. While these inflows are still modest in dollar terms, they mark a directional signal that Layer-2s and alt-L1s are beginning to claw back attention, especially as Ethereum fees remain elevated. Stablecoins continue to serve as DeFi’s latent fuel. At $254.598 billion, the total market cap of stablecoins is more than double the value locked in DeFi protocols. This 2.19x ratio suggests substantial dry powder waiting for redeployment, especially if rates remain attractive and new structured products emerge. It also provides a buffer against forced liquidations in the event of sudden volatility, as more capital is sitting idle in pegged assets than in active yield strategies. The first week of July has painted a picture of renewed strength for DeFi, especially in core lending and restaking segments. With a stablecoin surplus, maturing yield primitives, and clear user rotation back into blue-chip protocols, DeFi appears to be entering the second half of 2025 with stronger footing than at any point this year. The post DeFi TVL breaks above $116B as lending roars back appeared first on CryptoSlate.
Crypto VC funding drops 22% in Q2 despite strong June finish
Venture capital funding directed towards crypto startups totaled $4.5 billion during the second quarter, down 22% versus the previous three months. According to DefiLlama data, the breakdown of the second quarter shows monthly flows of roughly $1.29 billion in April, $624 million in May, and $2.5 billion in June. June’s figure is over 4x larger than May’s funding and ranked as the second-largest month of 2025, trailing only March’s $3.5 billion surge that was driven by Binance’s $2 billion MGX investment. Despite the late-quarter rebound, the combined amount for the second quarter could not match the nearly $6 billion invested in crypto startups between January and March. Nevertheless, it is still double the amount of venture capital money flowing into crypto in last year’s second quarter. Stand-out Q2 transactions Large cheques remained selective in the second quarter. Twenty One Capital received $585 million, the largest funding round of the previous quarter. Furthermore, Eigen Labs received $70 million from Andreessen Horowitz’s a16z, which purchased additional EIGEN tokens. Other significant funding rounds from the second quarter include Hypernative’s $40 million round and Symbiotic’s $29 million. While the deal count slipped to multi-year lows in May, at just 62 rounds, the quarter’s median round size remained above $10 million, indicating that investors continued to fund later-stage and infrastructure projects. Sector mix and geographic notes DeFi infrastructure, restaking, and AI-linked middleware captured the largest tickets, mirroring the public market’s narrative rotation. North American companies attracted the majority of the raises last quarter, primarily due to larger Series B and later rounds of funding. At the same time, early-stage activity in Asia and the Middle East edged higher in token-focused seed deals. Despite the slower pace of funding registered in the previous quarter, the year-to-date total of roughly $10.3 billion already exceeds the full-year figure of $9.6 billion for 2024. The post Crypto VC funding drops 22% in Q2 despite strong June finish appeared first on CryptoSlate.
Aethir and Pendle Form Partnership to Launch eATH Pool
Odaily Planet Daily reports that decentralized cloud computing platform Aethir has announced a partnership with DeFi yield protocol Pendle. Through this collaboration, Aethir’s liquid staking token eATH (EigenATH) will be introduced into Pendle’s yield trading ecosystem. eATH is linked to the EigenCloud (formerly EigenLayer) ATH Vault, providing Aethir stakers with DeFi options and yield generation strategies. Additionally, GPU-based DePIN staking will be integrated into Pendle’s DeFi framework, offering modular infrastructure yields to restaking DeFi users. This marks the first time GPU-driven DePIN is being integrated with Pendle, signifying the official entry of Aethir’s staked assets into the modular DeFi yield ecosystem.
From Compound to Restaking: The Calvin Liu Story
Calvin Liu helped design Compound’s core systems and later led Ethereum restaking strategy at EigenLayer. He avoids hype, backing early-stage crypto projects that focus on long-term infrastructure and governance models. When it comes to early names shaping the DeFi ecosystem, Calvin Liu’s name rarely gets mentioned as prominently as the founding fathers. But if you dig deeper, he’s actually one of those who got in before the hype hit. He didn’t start his crypto career with a bang, but rather with consistency—and a little curiosity that paid off handsomely. A Cornell University graduate with a background in economics and philosophy, Calvin had a bit of a career in traditional finance. He worked at investment firms like Houlihan Lokey and worked in financial regulation. But in 2013, something caught his eye— Bitcoin . Over time, he began investing, writing, and eventually diving into emerging blockchain projects. Calvin Liu: From Building DeFi Tools to Reinventing Blockchain Trust His first serious foray into crypto came when he joined Compound as head of strategy. Back then, Compound wasn’t what it is today. Not many people believed in the concept of “banking on Ethereum.” But Calvin saw an opening. He co-led the launch of cTokens and designed the COMP token governance—which would later become the blueprint for many other protocols. He explained in one of the public sessions that the concept of Compound is about opening loans and interest transparently—without banks, without tellers. On the other hand, his journey in Compound is not just about technology. He is also involved in building a community, having dialogues with users, and even answering random questions on Reddit and Telegram . People may see DeFi from a technical perspective, but Calvin realizes that building trust is more difficult than writing smart contracts. Furthermore, after leaving Compound, Calvin did not immediately leave the blockchain world. He joined as Chief Strategy Officer at EigenLayer , a project that is now one of the main pillars in the Ethereum restaking world. This is where things get even more interesting. Restaking may sound complicated, but if you imagine it as an additional security system for blockchain, then Calvin’s role is similar to the architect of the fence around the big house called Ethereum . Through EigenLayer, he helps organize how validators can “re-lend” their stakes to protect other applications. And yes, the amount of funds locked in it has now reached tens of billions of dollars. Staying Grounded While Betting on the Long Game But Calvin is not just about work. He is also an active angel investor through Divergence Ventures, backing many early-stage projects that he believes have disruptive potential—whether it’s blockchain infrastructure, DeFi , or market prediction projects. One of his unique habits is to avoid hype. In one interview, he once said that it’s the projects that “seem boring” that are the most important—because that’s where the foundation is built. If asked what keeps him in this industry, perhaps it’s not the money, nor the popularity. He’s more interested in the “long game”—where the protocol can regulate itself, and the community is at the center of decisions. It’s a bit like the open-source philosophy: anyone can enter, but only the consistent survive. However, not everything went smoothly. The crypto world is full of turmoil, and some of the projects he backed didn’t always end up happy. But perhaps that’s where the important lesson lies. Calvin is not the type to stick to one project. He sees blockchain as a living ecosystem that is constantly changing. So instead of just chasing the “trending” projects, he chose to build the foundation—slowly but surely. Today, he still actively speaks on various forums, podcasts, and community sessions. Sometimes discussing the technicalities of staking, sometimes explaining governance, sometimes just pondering how crucial system design is in a world without central banks. Amid it all, one thing that Calvin Liu has consistently done is stick to his original vision: to create an open financial system that is accessible to anyone, without permission. And like many good things, it hasn’t been an instant journey—but it’s slowly shaping the future.
EigenLayer Teams with Sentient to Build Verifiable AI for DAOs
EigenLayer and Sentient are building verifiable AI to automate DAO decisions while maintaining community transparency and trust. EigenCloud enables secure off-chain services, backed by staking, with support from a16z to expand developer adoption. What if important decisions in a DAO could be assisted by artificial intelligence that is not only smart, but also has proven how it works? That is what EigenLayer and Sentient are trying to realize. Through a newly announced research collaboration, they are building a system based on verifiable AI—AI that not only makes decisions, but also shows the logic behind its decisions, transparently and publicly verifiable. Interestingly, this is not just an idea that just stopped by on paper. A few days ago, EigenLayer launched a new platform called EigenCloud, as the technical foundation of this system. This platform unites various services that have been separated so far: from data availability, conflict resolution, to a trusted computing layer. With EigenCloud, off-chain applications can run more smoothly because everything is guaranteed by EigenLayer’s own security mechanisms—including staking and slashing that are designed to maintain honesty. https://t.co/MQEZ9ylVXF — EigenCloud (@eigenlayer) June 20, 2025 Judge Dobby, the Digital Mediator In early testing, Sentient and EigenLayer have introduced an AI prototype called Judge Dobby. What does it do? Becoming a “digital arbiter” in DAO governance, especially when it comes to assessing proposals or distributing community funds. Imagine you have a community of hundreds of people who have to choose who deserves a grant. Instead of making a long and lobbying-prone vote, Judge Dobby can evaluate all the data and community rules—and then make a decision that can be traced logically. Furthermore, this system is also designed so that it cannot run on its own. Every decision must be traceable, verifiable, and if necessary—refutable. So, even though AI is making the decision, humans can still monitor and correct it if necessary. This concept is perfect for DAOs that want to be agile but still fair. Not only that, this step also makes business sense. The famous venture capital firm Andreessen Horowitz, aka a16z, has just increased their investment in EigenLayer by purchasing EIGEN tokens worth $70 million. This complements their previous funding which has reached $100 million. The fund will be used to drive adoption of the EigenCloud platform, including services like EigenDA, EigenVerify, and EigenCompute that are ready to be offered to more developers. EigenLayer Shows Strength Despite Market Pressure On the other hand, although the news of the collaboration with Sentient and the injection of funds from a16z sounds promising, the price of the EIGEN token has actually moved back slightly. At the time of writing, EIGEN is trading around $1.03 after dropping around 1.7% in the last 24 hours. This could be just the effect of the general crypto market conditions which are not enthusiastic. However, the fact that EigenLayer is now the largest restaking protocol on the Ethereum network—with a total locked fund of over $12 billion—proves that EigenLayer is the real deal. Especially with strong support from the community and modular infrastructure like EigenCloud, the path to mass adoption seems increasingly open.
Auto-Compounding Comes to uniETH Restaking Rewards: What It Means for Your ETH Yield
TL;DR: If you're holding uniETH, you automatically earn more. Weekly restaking rewards are now converted into ETH and reflected in the token's value. No action needed. No points to track. Just more ETH, every week. A Simpler Way to Earn More from Your uniETH If you’re holding uniETH, Bedrock’s liquid restaking token for Ethereum, there’s good news: auto-compounding is now live. Starting May 16, 2025, all uniETH holders will begin receiving enhanced restaking rewards automatically, without needing to claim, stake, or track anything manually. Here’s what’s changing, how it works, and what it means for your yield. What is Auto-Compounding for uniETH? Auto-compounding means your staking rewards are reinvested back into the system, growing your position over time without any manual steps. With this upgrade, all rewards from EigenLayer’s Programmatic Incentives are now swapped to ETH and routed back into the uniETH protocol. The result: every uniETH token gradually becomes worth more ETH. You won’t see a higher token balance. Instead, you’ll see the uniETH:ETH exchange rate rise faster, reflecting your accumulating rewards. With This Change, Yield Is Built Into the Token With this change, value accrual no longer relies on manual claims or point-based tracking. Instead, it’s now reflected directly in the token’s exchange rate — programatically updated on-chain each week and equally applied to all holders. It’s a structural shift that brings rewards closer to the core asset and eliminates the need for complex backend calculations. Weekly Rewards. No Claiming. No Guesswork. The first distribution under this new system took place on May 16, 2025. From now on, rewards are distributed weekly, providing a steady rhythm that benefits holders in two key ways: It reduces volatility in the exchange rate by smoothing out large reward injections. It provides transparency and predictability — holders know exactly when and how their rewards are reflected. This cadence also aligns better with the protocol’s internal accounting and keeps the system fair for everyone, regardless of when they entered. No More EigenLayer Points. No Manual Tracking. Before this upgrade, Bedrock relied on EigenLayer’s points system to track and distribute rewards. This system was difficult to follow, and reward calculation required off-chain logic and manual oversight. That’s now gone. With auto-compounding, rewards are distributed purely at the smart contract level, directly and proportionally based on the amount of uniETH you hold. There are no points to game or manage — just a token that grows in value over time. Real Numbers: The First Distribution On May 16, the protocol executed the first auto-compound rewards distribution: Exchange ratio (uniETH:ETH): increased from 1.09656 to 1.09675 Estimated APY: ranged from 3.37% to 3.58% This means that for every 1 uniETH you held before the distribution , it’s now worth slightly more ETH, with no action needed on your part. These rates will naturally vary over time depending on market dynamics, validator performance, and Eigen incentives. Bedrock continuously monitors the EIGEN:ETH swap ratio to optimize returns for the protocol. Why It Matters for Holders For passive holders, this update offers three major benefits: No maintenance: You don’t have to claim or reinvest rewards manually. No complexity: You no longer need to track EigenLayer points or estimate off-chain yields. Fair and transparent: All yield is embedded into the token’s value and updated weekly on-chain. It also strengthens uniETH’s position as a capital-efficient, yield-bearing token in the broader Ethereum restaking ecosystem. Ready to benefit? Try now! About Bedrock Bedrock is the first multi-asset liquid restaking protocol, pioneering Bitcoin staking with uniBTC. As the leading BTC liquid staking token, uniBTC enables holders to earn rewards while maintaining liquidity, unlocking new yield opportunities in Bitcoin’s $1T market. With a cutting-edge approach to BTCFi 2.0, Bedrock is redefining Bitcoin’s role in DeFi while integrating ETH and DePIN assets into a unified PoSL framework. Official Links Website | App | Documentation | Blog | X (Twitter) | Discord | Telegram
EigenCloud Launched by Eigen Labs with $70M Backing
Key Points: Main event: EigenCloud’s launch backed by a16z’s $70M. A16z’s investment strengthens EigenCloud’s blockchain capabilities. EigenCloud boosts blockchain utility and engagement globally. EigenCloud Launched by Eigen Labs with $70M Backing Eigen Labs, spearheaded by Sreeram Kannan, has launched EigenCloud with financial backing of $70 million from Andreessen Horowitz (a16z). This significant development is set to enhance blockchain services and developer engagement worldwide, with a full rollout expected by 2025. EigenCloud’s launch marks an important milestone in blockchain services, reflecting institutional confidence and potentially increasing developer activity. Positive market reactions anticipate growth in uses for Ethereum-based protocols. “The platform aims to enable applications for traditional sectors, including medical records and AI, bridging Web2 and Web3.” – Sreeram Kannan, Founder, Eigen Labs EigenCloud’s introduction, supported by a16z’s $70 million investment , is overseen by Eigen Labs’ Founder, Sreeram Kannan. This initiative aims to transform and enhance the blockchain developer landscape on a global scale. Eigen Labs, pioneering advancements in blockchain technology, leverages a16z’s backing to accelerate EigenCloud’s rollout. This funding aligns institutional interests with the project’s growth, positioning EigenCloud to significantly impact the crypto economy. The launch affects diverse areas, including financial markets and blockchain protocols. The integration of EIGEN tokens with EigenCloud increases their utility, potentially influencing market dynamics and attracting increased attention from crypto developers. Financial implications include an anticipated rise in development activities and token circulation. With institutional backing, EigenCloud could redefine Ethereum’s use cases, impacting related tokens like EIGEN and ETH in the broader market. The launch sets a transformative path for blockchain services, paralleling impacts seen with other infrastructure projects like Chainlink. It indicates potential shifts in market engagement, staking dynamics, and token utility as EigenCloud integrates into existing structures.
Crypto Funding Surpasses $1,5 Billion in June as Circle IPOs
Crypto Funding Surges With Circle’s Billion-Dollar IPO Investments in cryptocurrency startups surpass $1,5 billion Circle and EigenLayer lead cryptocurrency investments in June The cryptocurrency venture capital sector saw significant growth in June, with investments surpassing the $1,5 billion mark as of June 20, according to data from DeFiLlama. The performance represents the highest monthly volume since March of this year, driven mainly by Circle’s IPO on the New York Stock Exchange. 🚀 Crypto funding hits a new high! Over $1.5 billion raised in June 💰, with Circle's IPO driving a major surge! 🏦 The blockchain space is on fire 🔥 #Crypto #Blockchain #CircleIPO #Funding #cryptonews #CryptoMarket #Investing pic.twitter.com/LAtiENBydd — Crypto News Hunters 🎯 (@CryptoNewsHntrs) June 20, 2025 The company behind the USDC stablecoin has raised approximately $1,1 billion by selling 34 million shares priced at around $31 each. That initial offering valued Circle at around $6,9 billion at the time of listing. Since then, the company’s shares have surged more than 500% to more than $200 per share, bringing its market capitalization to nearly $50 billion. Without this investment, the total funding recorded in June would have been less than US$400 million. Still, the numbers reinforce the renewed interest of investors in projects linked to crypto assets, reflecting an improvement in sentiment towards the market. In addition to Circle, other significant investments marked the month. EigenLayer, a protocol focused on reactivating assets on Ethereum, raised US$70 million in a round led by Andreessen Horowitz (a16z). The funds aim to accelerate the development of EigenCloud and expand its ecosystem. a16z also invested US$33 million in Yupp, a platform focused on free testing of artificial intelligence models. Hypernative, which specializes in crypto asset security, received an investment of US$40 million. Other notable investments include $30 million for crypto infrastructure company Turnkey, $22 million for stablecoin project Noah and $20 million for OneBalance, which seeks to simplify the user experience in the cryptocurrency sector. The significant increase in contributions reinforces the resumption of institutional appetite for innovation in the crypto sector, especially given a more optimistic perception regarding the evolution of decentralized technologies. Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss. Tags: Circle IPO
Crypto VC funding: Crypto infra, AI stack up $159m in a shaky market
Crypto fundraising remained resilient from June 15 to June 21, with 18 projects securing a combined $159.5 million despite broader market volatility. The week was dominated by infrastructure and AI-focused ventures, with EigenLayer leading the pack through a $70 million round backed by a16z crypto—bringing its total funding to $234.5 million. Other notable raises included PrismaX, Sparkchain AI, Gradient Network, Ubyx, and Units Network, each attracting $10 million or more from prominent investors like Pantera, Lightspeed, Galaxy Digital, and Coinbase Ventures. The activity signals continued confidence in foundational crypto technologies and AI convergence, even as deal sizes concentrate around fewer, well-backed projects. Here’s a detailed examination of this week’s crypto funding activity, according to the website Crypto Fundraising : EigenLayer (EigenCloud, Eigen Labs) The digital assets arm of venture capital firm Andreessen Horowitz, a16z, deepened its investment in EigenLayer with a new $70 million token acquisition. The move coincides with the launch of the Ethereum restaking protocol’s developer platform, EigenCloud. It also builds on the $100 million investment a16z made in Eigen Labs’ Series B funding round in February 2024. EigenLayer ( EIGEN ) has raised $234.5 million so far. PrismaX PrismaX secured $11 million in a funding round led by a16z CSX, with participation from Builder Fund, Symbolic, Volt Capital, Virtuals Protocol, and several angel investors. The company officially launched during CSX’s Demo Day on June 3, showcasing its robotic intelligence platform, which aims to advance physical generative AI. Bayley Wang and Chyna Qu co-founded PrismaX, Which focuses on developing foundational models that combine robotics and decentralized technology to power next-gen physical AI systems. Sparkchain AI SparkChain AI raised $10.8 million in a strategic round led by OakStone Ventures to scale its decentralized AI compute network and prepare for its upcoming launch on Solana. The funding will support real-time AI optimization, infrastructure expansion, and key partnerships, positioning SparkChain as a core layer for Web3 and DePIN (Decentralized Physical Infrastructure) ecosystems. The raise reflects growing institutional interest in decentralized AI infrastructure, amid rising demand for alternatives to centralized cloud solutions and increased focus on edge computing, modular blockchains, and data sovereignty. Gradient Network Pantera Capital and Multicoin Capital led a $10 million seed round for Gradient Network. HSG and top-tier angel investors across AI and crypto provided additional backing. The startup is building decentralized AI infrastructure for open-source intelligence, aiming to drive transparency and innovation in the AI space. Gradient also unveiled a refreshed brand identity, reinforcing its commitment to decentralization, transparency, and its long-term vision for the future of AI. Announcing our $10M seed round led by @PanteraCapital and @multicoincap , with participation from @hsgcap , distinguished partners, and top angels across AI and crypto. This milestone fuels our mission to build the world’s first fully decentralized AI runtime.… pic.twitter.com/AMfVbHMk7t — Gradient Network (@Gradient_HQ) June 17, 2025 Ubyx Ubyx clinched $10 million in seed funds. Founded by Citi veteran Tony McLaughlin, the startup aims to be a unified distribution and redemption layer for multiple stablecoins, already partnering with Paxos, Ripple, Transfero, Monerium, and others. Galaxy Ventures led the effort with participation from Founders Fund, Coinbase Ventures, Paxos, Payoneer, and others, to build infrastructure for stablecoin clearing and bank account on/off-ramps—especially for corporates handling cross-border payments. The raise highlights growing investor confidence in stablecoin infrastructure, as Ubyx seeks to fill a gap left by major players like Circle and Tether, amid expectations of looser regulatory conditions post-election. Units Network Units Network collected $10 million in a round led by Nimbus Capital, signaling strong institutional confidence in the Waves Protocol and its potential to expand within the DeFi and interoperability sectors. The funding aims to accelerate DeFi infrastructure development, cross-chain interoperability, and AI-powered tools. The investment is expected to boost interest in the Waves ecosystem, potentially driving higher on-chain activity, increased token demand, and improved market sentiment around WAVES as institutional backing draws attention. 🚨 https://t.co/xbza47TsHk Raises $10M to Accelerate Ecosystem Growth! https://t.co/xbza47TsHk secures funding from Nimbus Capital, a global investor focused on cross-border blockchain deals with >USD $1.3 billion in AUM 🌍👉 https://t.co/q629egSQXJ The funding will activate👇… pic.twitter.com/PchjGTnlkS — Units.Network (@UnitsNetwork) June 19, 2025 Projects under $10 million XFX, $9.1 million Seed round Sahara Labs, $8.5 million in a Public sale with $600 million fully diluted valuation PublicAI, $8 million in a Series A round Project Eleven, $6 million in an Unknown round The Wildcard Alliance, $6 million in an Unknown round TAC, $5 million in a Strategic round Stackup, $4.2 million in a Seed round Uptopia, $4 million in a Pre-seed round Nook, $2.5 million in a Seed round BitVault, $2 million in a Pre-seed round Intuition, $900,000 in a Public sale Bombie, $300,000 in a Public sale with $80 million fully diluted valuation
Crypto funding soars past $1.5 billion in June with Circle IPO boost
Venture capital activity in the crypto space has seen a significant rebound this month, with total investments crossing $1.5 billion by June 20, according to DeFiLlama data. This marks the strongest monthly performance since March 2025 and signals growing confidence in blockchain startups after a quieter second quarter. The raised funds are more than double the $624 million recorded in May, making June the second-highest month for funding in 2025. Crypto Projects Funding in 2025 (Source: DeFiLlama) However, the final tally could go even higher before the end of the month. Circle’s IPO leads crypto funding surge A large share of this month’s capital inflow comes from Circle’s high-profile public listing. The USDC stablecoin issuer launched on the New York Stock Exchange on June 5, selling 34 million shares at around $31 each. The offering brought in close to $1.1 billion, valuing the company at roughly $6.9 billion at the time of listing. Since going public, Circle’s stock has significantly climbed by more than 500% to an all-time high above $200. The rally has also helped propel the stablecoin issuer’s valuation to nearly $50 billion. Without Circle’s IPO, the total raised in June would have hovered around $400 million. However, the broader wave of funding underlines a growing appetite among investors to back crypto innovations amid improving sentiment in the digital asset space. For context, EigenLayer secured the second-largest funding round of the month. The Ethereum restaking protocol attracted $70 million from Andreessen Horowitz (a16z), supporting the launch of EigenCloud and ecosystem growth. The venture capital firm a16z also led a $33 million investment in Yupp, a platform helping users discover and test AI models for free. Meanwhile, other significant funding rounds the industry recorded this month include a $40 million raise for security firm Hypernative, $30 million for crypto infrastructure provider Turnkey, $22 million for stablecoin project Noah, and $20 million for OneBalance, a platform focused on simplifying crypto’s fragmented user experience. The post Crypto funding soars past $1.5 billion in June with Circle IPO boost appeared first on CryptoSlate.
Seamless Protocol launches plug and play Leverage Tokens as ERC-20 assets on Base
Key Takeaways Seamless introduces Leverage Tokens, converting complex DeFi strategies into tradable ERC-20 assets with automated rebalancing. The protocol supports over 250,000 wallets and has more than $100 million in total value locked. Seamless Protocol launched Leverage Tokens on Base today, introducing automated DeFi strategies packaged as ERC-20 assets that combine collateral, lending, swaps, and rebalancing functions into a single token. The protocol, which debuted in 2023 as Base’s first native lending and borrowing platform, currently supports over 250,000 wallets and maintains more than $100 million in total value locked (TVL). In early 2025, Seamless transitioned to Morpho’s permissionless lending infrastructure. The new Leverage Tokens build upon the protocol’s Integrated Liquidity Markets (ILMs), which launched in 2024 and attracted over 6,500 users. At launch, the first Leverage Token debuting on Seamless is a 17x yield loop built on Ether Fi’s weETH/ETH staking pair. By simply holding the token, users gain exposure to amplified ETH staking rewards while earning ecosystem points from Ether Fi and Eigenlayer. There’s no need to manage the underlying loop, no borrowing, swapping, or manual rebalancing. The entire strategy is embedded in the token’s logic and maintained on-chain by Seamless’s leverage engine. The tokens utilize a modular system comprising Collateral Adapters, Lending Adapters, and Rebalance Adapters to manage assets, connect to capital sources, and automate leverage adjustments. As standard ERC-20 tokens, they can be traded, used as collateral, or integrated with other DeFi protocols on Base. Seamless plans to expand its token offerings to include long and short blue chip exposure, delta-neutral yield farming, meme coin loops, and meta-strategies combining multiple primitives. The protocol will also implement a DAO-governed fee switch that directs token revenue to stkSEAM holders. In traditional markets, leveraged ETFs hit $130 billion in assets under management by mid-2023. Seamless sees Leverage Tokens as a decentralized evolution of that model, but without the institutional gatekeeping, opaque risk, or limited integrations. Disclosure: Some investors in Crypto Briefing are also investors in Seamless Protocol.
Key Market Intelligence on June 19th, how much did you miss out on?
Featured News 1. JD.com: Expects to Obtain License in Early Q4 This Year and Launch JD Stablecoin Based on Public Chain 2. Circle's Circulating Shares Account for Less Than 18% of Total Shares, with a Circulating Market Cap of Approximately $7.253 Billion 3. Polymarket: Probability That "Market Cap Will Exceed $4 Billion Within One Day of Pump.fun TGE" is 68% 4. Pro Hackers Group "Loot Sparrow" Publicly Discloses Iran's CEX Nobitex Source Code and Other Internal Information 5. Binance to List Matchain (MAT), with at Least 243 Points for Users to Claim Airdrops Trending Topics Source: Overheard on CT (tg: @overheardonct), Kaito HANA: Today, discussions around HANAHANA mainly focus on its participation in the Kaito Earn program and its listing on the Yapper leaderboard, where 1.5% of the token supply is used for reward distribution. HANAHANA is referred to as a "super-casual financial app" and dubbed the "crypto version of TikTok." It was incubated by Binance Labs and supported by HyperliquidX. The early bird sale for its TGE is currently open, featuring a 0% cliff (no lock-up period) and no vesting period, with a fully diluted valuation of $4 billion. The community shows strong interest in HANAHANA's potential to combine entertainment with crypto and its strategic partnerships with several well-known investment firms. ref0 ref1 ref2 ref3 ref4 ref5 ref6 EIGENLAYER: EigenLayer is today widely recognized for the launch of the EigenCloud platform. EigenCloud is a verifiable cloud platform that combines large-scale programmability with blockchain-level trust guarantees, seen as a significant step towards enabling developers to build complex applications with encryption-level verification capabilities, expanding the application boundaries of blockchain technology. a16z's $70 million investment announcement further highlights its profound potential impact in the crypto ecosystem. ref0 ref1 ref2 ref3 ref4 APT: APT is today generating buzz due to several major developments. South Korea's major exchange Upbit announced support for USDT on the Aptos Network, expected to boost liquidity and adoption in the Korean market. Additionally, Aptos Labs launched a network upgrade called "Baby Raptr," reducing latency and improving performance; simultaneously, Greg Nazario was appointed as Aptos Labs' Developer Relations Lead, reflecting its ongoing strategic focus on community building and innovation. These developments, along with the expansion and partnerships within the Aptos ecosystem, have fueled increasing interest and positive market sentiment. ref0 ref1 ref2 ref3 ref4 ref5 ref6 NANSEN: Nansen has officially launched its first season Points Program (Season 01), becoming the focal point of discussions today. This program encourages users to engage with the Nansen ecosystem through subscriptions, staking, invitations, and more to earn opportunities for future airdrops and exclusive rewards, including discounts and trial rights on partner platforms. This initiative has sparked widespread community interest, with numerous tweets emphasizing the attractiveness of the program and Nansen's strategic collaborations in enhancing user engagement. Featured Articles 1.《Exclusive Interview with Infini Co-founder County Main: Why Did We Shut Down the U Card Business?》 Once highly anticipated in the crypto card industry, cards are increasingly being labeled as "difficult" and "not worthwhile." Compliance barriers, cross-border settlements, risk controls... issues that sound like they should belong to traditional financial institutions have become the reality that Web3 entrepreneurs must face head-on. Between resource investment and business returns, Infini ultimately chose to press the termination button on this business. What exactly happened behind the scenes? What were the specific challenges of the U card business in execution? Why is compliance cost so high? With these questions in mind, BlockBeats interviewed Christine, Infini's co-founder, to reveal the full picture of this business adjustment through the firsthand account of an operator. 2. "Web3 KOL Marketing Evolution: From Grassroots to Platform, Which is More Effective?" My research goal is to uncover how these institutions operate and who is on their core KOL list. · What are the criteria for selecting KOLs? · How large is their user base? · How do they assess audience quality? · How do tools like Kaito and Cookie DAO reshape the KOL game in Web3? On-chain Data On-chain Fund Flows on June 19th
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