SharpLink to invest $200 million in ETH on Consensys’ Linea using ether.fi and EigenCloud
SharpLink Gaming, Inc., a major corporate holder of Ethereum (ETH), has recently announced plans to deploy $200 million of its ETH reserves onto Linea, a zkEVM Layer 2 network developed by Consensys. This strategic deployment aims to unlock enhanced DeFi yields for SharpLink through a collaborative effort involving ether.fi and EigenCloud. By leveraging this institutional-grade infrastructure, SharpLink aims to optimize its on-chain yield and incentives, while also gaining exposure to emerging AI workloads secured by Ethereum.
This deployment will be facilitated through Anchorage Digital Bank, marking a significant milestone in ETH treasury strategies. Through this collaboration, SharpLink intends to harness the full potential of Ethereum’s staking, restaking, and DeFi yield opportunities in a risk-managed environment over several years. The utilization of Linea’s infrastructure allows SharpLink to access scalable and secure ways to enhance the productivity of its ETH holdings.
Joseph Chalom, Co-CEO of SharpLink, emphasized the company’s commitment to managing its treasury assets with institutional rigor and discipline. This deployment not only aims to optimize staking yield and treasury performance but also underscores SharpLink’s dedication to maximizing shareholder value. By being an early adopter of Linea’s infrastructure, SharpLink is paving the way for a broader initiative to responsibly generate enhanced staking yield.
This collaboration between SharpLink, Consensys, and other ecosystem participants establishes a new pathway for institutional DeFi yield on Linea. It showcases SharpLink’s proactive approach to managing and deploying its treasury assets while contributing to the advancement of the Ethereum ecosystem. Joseph Lubin, Founder and CEO of Consensys, highlighted Linea’s role in enhancing ETH productivity through collaborative partnerships like this.
Mike Silagadze, CEO of ether.fi, expressed his appreciation for being selected as a primary staking solution for SharpLink’s Treasury ETH. This partnership sets a standard for trust and operational excellence in putting ETH treasury assets to work efficiently. The commitment of companies like SharpLink to leverage trusted platforms like ether.fi demonstrates a growing trend towards institutional participation in DeFi.
EigenCloud, another key player in this collaboration, is positioned to offer ETH-denominated yield through innovative services secured by ETH. As the verifiable economy expands, opportunities for institutional capital to earn yields will increase, creating a new generation of applications and services enabled by this combination of platforms.
Anchorage Digital, as the custodian for SharpLink’s staking solution, emphasizes the importance of secure and regulated infrastructure for Ethereum’s institutional era. This partnership underscores the alignment between innovation and compliance in the digital asset space, ensuring the seamless operation of ETH staking solutions on Linea.
In conclusion, the deployment of institutional ETH yields using Linea and DeFi infrastructure represents a significant step towards optimizing treasury performance for SharpLink. This collaboration not only unlocks new possibilities for enhanced staking yield and DeFi incentives but also paves the way for the development of innovative capital markets primitives in the digital asset space. As SharpLink continues to explore new models for onchain capital raises and programmable liquidity tools, the future of Ethereum appears even more promising for institutional investors.
