Eigen Foundation Awards Initial Strategic Investment to Celo Foundation for Layer-2 Integration

Welcome to Extreme Investor Network, where we bring you the latest news and insights on all things crypto, blockchain, and more. Today, we are excited to share the news of Eigen Foundation’s strategic grant to the Celo Foundation for Layer-2 integration.

Eigen Foundation Grants First Strategic Funds to Celo Foundation for Layer-2 Integration

Enhancing Celo’s Scalability and Security

The Eigen Foundation’s grant to the Celo Foundation is aimed at integrating EigenDA, the off-chain data availability layer, into Celo’s upcoming Ethereum Layer-2. This partnership is set to enhance Celo’s scalability and security, providing abundant block space and low fees essential for global use cases like micropayments and UBI in emerging markets.

Overview of Integration With EigenDA

Celo, initially launched as an EVM-compatible standalone blockchain, is transitioning to an Ethereum Layer-2 to maintain scalability and security benefits. EigenDA plays a pivotal role in this transition, showcasing impressive throughput and performance on the mainnet. The integration of EigenDA also aligns economic incentives for validators, ensuring enhanced security and performance for Celo’s Layer-2.

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Community Support and Grant Allocation

The Celo community’s support for the Layer-2 migration and alignment from technical and community perspectives prompted the Eigen Foundation to award this strategic grant. Managed by the Celo Foundation, the grant will support ecosystem partners leveraging EigenDA and strengthen the Layer-2 ecosystem through the on-chain Community Fund.

About Celo

Celo is an Ethereum Layer-2 and mobile-first blockchain network focused on fast, low-cost global payments. With a decentralized proof-of-stake blockchain, native tokens like CELO, and stable assets, Celo supports over 1,000 projects contributing to its mission of prosperity for all.

About EigenDA

EigenDA is a high-throughput, decentralized data availability store on EigenLayer, aimed at reducing transaction costs and ensuring secure composability. Utilizing advanced techniques like erasure coding and KZG commitments, EigenDA provides efficient data availability while maintaining decentralization and high performance.

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For more information, visit the EigenLayer Blog and their documentation.

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