Near Foundation partners with Eigen Layer to resolve liquidity challenge on Layer-two

Near Foundation just announced a partnership with Eigen Labs (the unit behind the growth of the EigenLayer Retaking protocol) to resolve the liquidity challenge on Layer-two.

Near Foundation partners with Eigen Labs to resolve liquidity challenge on Layer-two

This collaborative phase aims to decrease transaction prices on Ethereum. Transactions are anticipated to get roughly three-four seconds to comprehensive with higher-velocity communication concerning Rollups. Furthermore, the challenge of liquidity fragmentation concerning Layer-two will also be solved.

We are enthusiastic to facilitate a closer connection concerning @NEARProtocol and the Ethereum local community. We seem forward to collaborating on revolutionary answers in the rollup solutions landscape! https://t.co/IW8YelWfXY

— EigenLayer (@eigenlayer) November 10, 2023

Near Foundation explained:

“With EigenLayer, this partnership will assistance accelerate transaction processing across networks and carry Restaking answers to extra ecosystems. With Near, this move will move the Near – Ethereum Rainbow Bridge Bridge into an independent working unit (AVS). Bridge expertise concerning Near and Ethereum will make improvements to accordingly. Transactions will have greater finality speeds, with higher safety and computation. Decentralization is also extra diversified.”

>> Find out extra: What is single-slot finality? How does Ethereum advantage from this strategy?

Close founder Illia Polosukhin also explained:

“Near Foundation is pleased to companion with Eigen Labs to carry a higher-velocity Finality remedy to ETH Rollups. This is 1 of the technological rewards of Near and aids Open Web grow to be extra preferred. This remedy also lowers liquidity fragmentation of Rollups on Ethereum and aids Webthree present a smoother consumer expertise.”

EigenLayer is a remedy that will allow end users to get back ETH and supports a consensus layer for new networks. Previously, Eigen Labs led a Series A capital round well worth $50 million to advance the growth of the infrastructure desired for this remedy.

A number of days in the past, Near also announced the rollout of its very own information availability remedy, as properly as partnering with Polygon to make the zkWASM remedy.

The Close to selling price did not fluctuate a great deal with the information of the collaboration with Eigen Labs.

1h chart of the Close to/USDT pair on Binance at eleven.20pm on November ten, 2023

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