Eigen Labs announces acquisition of Rio Network and will open source its code and IP

According to official news, Eigen Labs announced the acquisition of Rio Network, a liquidity re-staking network. The specific acquisition amount has not been disclosed. Eigen Labs stated that Eigen Labs did not build Liquid Restaking Token (LRT). Rio Network's code and intellectual property will be acquired by the Eigen Foundation and will be open sourced to better support new and under-development LRTs. The Rio team will join Eigen Labs and will focus on enhancing the EigenLayer ecosystem with other members of the Eigen Labs team.