EigenLayer Points Trading Kicks off on First CEX BIT Exchange

As the euphoria around the potential EigenLayer token generation event is gaining steam, catalyzed by a series of successful airdrops of 2023, a novel option emerged for crypto enthusiasts interested in the benefits of TGE. Customers of BIT Exchange can trade EigenLayer Points in a hassle-free manner right now.

BIT Exchange becomes first CEX to offer EigenLayer Points market

According to the official announcement made by the team of BIT Exchange, a top-tier centralized crypto trading platform, it introduced the first-ever exchange-based market for the EigenLayer Points. As such, enthusiasts of EigenLayer can trade them, not unlike ordinary tokens with no need to interact with decentralized exchanges.

Trading in the ELP/USDT pair launched on April 15, 2024. The team highlighted that such a bold experiment is a new way for early adopters to access the EigenLayer ecosystem ahead of its hotly anticipated token generation event.

As of mid-April, 2024, EigenLayer is the second largest blockchain protocol by TVL. Its customers injected a total of $12.2 billion in equivalent into its ecosystem.

EigenLayer Points Program was introduced as an instrument to reward the earliest participants of its restaking machine for their activity. Instead of cryptocurrency rewards, EigenLayer decided to award points as bonuses for restaking liquid staking tokens (LSTs) on its platform.

Therefore, BIT Exchange becomes the first attempt to benefit from the synergy between the centralized exchange (CEX) ecosystem and industry-leading restaking protocol.

Number of EigenLayer Points depositors exceeded 100K

LAN, cofounder and COO of BIT Exchange, stresses the innovative design of the new offering and is excited by the scope of opportunities it unlocks for traders and investors:

The launch of the EigenLayer Points (ELP) Market 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.

Market participants met the new option with obvious interest. In the last 24 hours, the trading volume eclipsed $329,000 and continues to increase.

Meanwhile, more than 107,000 unique depositors have experimented EigenLayer re-staking ecosystem so far, data says.