Near Foundation, the organization building out the Near protocol, has partnered with Eigen Labs, the startup developing the restaking protocol Eigen Layer.

The collaboration aims to create cheaper transactions for Ethereum rollups, according to a statement. Transactions will occur within three to four seconds while using low-latency cross rollup communication. Additionally, liquidity fragmentation will be reduced between Layer 2s.

"For Eigen Layer, this collaboration will provide fast settlement for cross-rollup transactions and showcases adoption of restaking across the Ethereum ecosystem and beyond. For Near, the collaboration will also extend to transitioning the Near-Ethereum Rainbow Bridge to an actively validated service (AVS). This will create a better bridging experience …