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BIT Exchange Pioneers Market for EigenLayer Points

BIT Exchange Pioneers Market for EigenLayer Points

Dubai, April 15, 2024 – BIT, a leading cryptocurrency exchange, has announced the launch of its market for the EigenLayer Points , introducing 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.

EigenLayer, a market-leading protocol on the Ethereum blockchain, has gained significant attention for its innovative approach to restaking and network security. With over $12 billion in total value locked and a surge in interest, EigenLayer has become a pivotal player in Ethereum's evolution.

The EigenLayer Points Program was launched to reward early adoption activities on the EigenLayer platform such as restaking liquid staking tokens (LSTs) within the EigenLayer system, depending on the quantity and duration of tokens restaked. These points serve as eligibility criteria for the highly anticipated EigenLayer airdrop at a future date, offering holders the chance to receive valuable rewards.

BIT Exchange is the first centralized exchange to open a market for buying EigenLayer Points ahead of the token generation event. When EigenLayer releases its airdrop, EigenLayer points holders at BIT will receive the new token according to the official conversion rate. 

"The launch of the EigenLayer Points (ELP) Market represents a significant milestone for BIT and the broader crypto community," said LAN, Co-founder & COO of BIT. "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.”

While an official airdrop date is yet to be announced, the EigenLayer airdrop is anticipated to be one of the largest events of the year within the crypto space.

About BIT

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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