BIT Exchange Launches EigenLayer Points Program

BIT Exchange has introduced the EigenLayer Points Program, enabling users to exchange EigenLayer Points (ELP) for cryptocurrencies like USDT.

BIT Exchange’s EigenLayer Points Program is a marketplace where users may exchange EigenLayer Points (ELP) for certain cryptocurrencies, such as USDT. With the launch of spot trading for EigenLayer Points ELP/USDT, BIT Exchange becomes the pioneer CEX platform in this space.

The ELP/USDT spot trading marketplace gives early adopters a chance to interact with the EigenLayer ecosystem before the token generation event, according to a news release that was shared with the media. Early adopters engage by depositing (restaking) ETH for EigenLayer points.

For every 1 ETH restaked, early adopters will receive one ELP hourly. As of right now, EigenLayer has distributed over 3.9 billion staking points to 107,915 depositors and is averaging about 107 million point emissions every day, according to a Dune Analytics dashboard by hahahash.

To participate in the highly anticipated EigenLayer Airdrop and maybe win great goodies, points will be required.

Whales Market, a decentralized exchange that allows ELP trades, clarifies that the tradable points are not tokenized EigenLayer points but rather the launch rights to EigenLayer points. 
Kelp Earned Points (KEP), a tokenized representation of EigenLayer points, is being offered by the newly launched Kelp DAO.

EigenLayer is currently making waves in the cryptocurrency industry due to its rise to prominence on Ethereum. The platform’s total value locked (TVL) surpassed $15 billion last week after the mainnet launch. 

According to BIT, ELP holders on EigenLayer’s platform will receive the new token at the official conversion rate when EigenLayer launches its airdrop.

“The launch of the EigenLayer Points Program represents a significant milestone for BIT and the broader crypto community,” commented LAN, co-founder and chief operating officer of BIT Exchange, in a statement regarding the release. 
In the early phases of a new and significant DeFi application, we’re thrilled to provide our users the chance to engage with new and creative protocols like EigenLayer.