EOS Network Foundation Establishes EOS Labs

ChainCatcher news, the EOS Network Foundation has announced the establishment of EOS Labs, an independent new entity proposed by long-time community leader Huaqiang Wen. EOS Labs is designed as a Web3 incubator and builder for the EOS ecosystem, representing a new phase in the development of the EOS network.

It is reported that EOS Labs is preparing to coordinate with the key roles already established by the EOS Network Foundation (ENF) and EOS Network Ventures (ENV). Recognizing its potential, ENF has committed to allocating a quarter of its operational budget to assist EOS Labs, support its vision, and advocate for its successful integration into the EOS ecosystem. The establishment of EOS Labs marks an important step for the EOS network towards greater decentralization. ENF has decided to redirect some resources to EOS Labs.