BIT Exchange Launches Market for EigenLayer Points Program

Twitter icon  •  Published 1 month ago  •  Hassan Maishera

BIT Exchange announced that it has launched the market for the EigenLayer Points Program, making it easier for early adopters to engage with the EigenLayer ecosystem ahead of the Token Generation Event.

BIT, a leading cryptocurrency exchange, announced on Monday, April 15th, that it has launched its market for the EigenLayer Points Program. The launch introduces EigenLayer Points (ELP)/USDT trading on spot market as a new way for early adopters to engage with the EigenLayer ecosystem ahead of the Token Generation Event.

The crypto exchange explained that EigenLayer is a market-leading protocol on the Ethereum blockchain and has gained significant attention for its innovative approach to restaking and network security. 

The protocol currently has over $15 billion in Total Value Locked (TVL). The emergence of the EigenLayer Points Program was to reward early adoption activities on the EigenLayer platform such as restaking liquid staking tokens (LSTs) within the EigenLayer system.

The points earned serve as eligibility criteria for the expected EigenLayer Airdrop at a future date, offering holders the chance to receive valuable rewards.

Thanks to this latest development, BIT Exchange has become the first centralized exchange to open a market for buying EigenLayer Points ahead of the Token Generation Event. This implies that  EigenLayer Points holders at BIT will receive the new token according to the official conversion rate once EigenLayer releases its Airdrop.

While commenting on this latest development, LAN, Co-founder & COO of BIT, said,

"The launch of the EigenLayer Points Program represents a significant milestone for BIT and the broader crypto community. We're excited to give our users the opportunity to engage with new and innovative protocols like EigenLayer and participate in the early stages of a new and prominent DeFi application.”

At the moment, there is no official airdrop date, with the EigenLayer Airdrop is expected to be one of the largest events of the year within the crypto space.

BIT is a comprehensive cryptocurrency exchange designed for professional use, featuring advanced risk management and fund efficiency supported by Portfolio Margin and Unified Margin. BIT was launched in August 2020 as an affiliate of Matrixport, a prominent crypto financial services company.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.