By
Godfrey Benjamin
April 29th, 2024
Participants can earn EigenLayer Points by engaging in various activities, such as restaking liquid staking tokens (LSTs).
BIT Exchange, one of the top cryptocurrency trading platforms in the industry, has given users something to cheer about with the launch of EigenLayer Points (ELP)/USDT trading on the spot market on its Points Program system. The platform will facilitate engagement with the Eigenlayer network ahead of the planned Token Generation Event.
The news of the launch shared by the exchange details how EigenLayer has become a pivotal player in Ethereum’s evolution. With this growth, early adopters can now engage with the EigenLayer.
EigenLayer, a Catalyst for Ethereum’s Evolution
EigenLayer operates on the Ethereum blockchain and has garnered widespread acclaim for its unique approach to restaking and network security. With a staggering Total Value Locked surpassing $15 billion and a surge in interest, EigenLayer is a key player in the ongoing evolution of Ethereum.
The expansion of the Ethereum network is due to the widespread acceptance of its Web3 platforms, spearheaded by Uniswap (UNI) for decentralized exchange and now, EigenLayer for liquid restaking. The idea of the EigenLayer Points Program is to incentivize and reward early adoption activities within the EigenLayer network.
Participants can earn EigenLayer Points by engaging in various activities, such as restaking liquid staking tokens (LSTs). Notably, the quantity and duration of tokens restaked determines the points earned at the end of the day. The points accumulated will serve as eligibility criteria for the highly anticipated EigenLayer Airdrop. This incentivization scheme offers holders the opportunity to receive valuable rewards in the future.
Just last week, EigenLayer, officially debuted on the mainnet. This mainnet launch solidifies the years of work put into developing the protocol altogether.
BIT Exchange EigenLayer Support To Empower Users
BIT Exchange became the first centralized exchange to offer a market for purchasing EigenLayer Points ahead of the Token Generation Event with the launch of the EigenLayer Points (ELP)/USDT. All holders of EigenLayer Points on BIT Exchange will receive the new token once the EigenLayer Airdrop is initiated, based on the official conversion rate.
“The introduction of the EigenLayer Points Program marks a significant milestone for BIT and the wider crypto community,” said LAN, Co-founder, and COO of BIT Exchange, “We are 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 this time, there is no official date for the EigenLayer Airdrop yet. Nonetheless, there is widespread anticipation for the event in the crypto space as it offers participants the chance to be part of a groundbreaking initiative at the forefront of blockchain innovation.
Following the Mainnet launch, notable exchanges like Coinbase Global Inc (NASDAQ: COIN) and Google Cloud became part of the initial operators on EigenLayer while announcing readiness to partner users interested in restaking their Ethereum or Liquid Staking Tokens.