What is Rio Network? Rio Network is a Liquid Restaking platform built and developed on EigenLayer’s platform. Rio Network has received investment from many large funds such as Polychain, Coinbase Ventures, HackVC, Hakss3, Haskey Capital,… How does Rio Network have such appeal? Let’s find out in this article. below.
Rio Network Overview
What is Rio Network?
What is Rio Network? Rio Network is a Liquid Restaking platform built on EigenLayer. Rio Network expects to bring high profits by having reputable Node Operators in the Crypto market such as Chorus One, Figment, HashQuark, Kiln and Unit 410. Besides, Rio Network also solves the problem for users when they will be locked in liquidity when participating directly in EigenLayer.
When users deposit LST Tokens into Rio Network, they will receive back reETH – LRT Token issued by the platform. ReETH can be used in DeFi to continue optimizing profits for users.
Rio Network’s operating mechanism
Rio Network’s operating mechanism goes through a number of basic steps as follows:
- Step 1: Users send LST Tokens such as rETH, stETH, cbETH,… to Rio Network to receive reETH to participate in DeFi to earn more profits.
- Step 2: Rio Network sends users’ LST Tokens to partners who are Nodes on Ethereum and EigenLayer including Chorus One, Figment, HashQuark, Kiln,…
- Step 3: Node Operators will operate and share profits with Rio Network.
It can be seen that with Rio Network, user liquidity will not be locked, but users will also have more profits from operating reETH themselves in the DeFi market.
Development Roadmap
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Investor
- December 18, 2023: Rio Network received investment from many large funds such as Polychain, Coinbase Ventures, HackVC, Hakss3, Haskey Capital,…
Core Team
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Tokenomics
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Exchanges
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Project Information Channel
Summary
Rio Network is definitely one of the different projects in the Liquid Restaking segment. Hopefully through this article, everyone can understand more about what Rio Network is?
