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Bithumb Is Renaming EIGEN to EigenCloud. Here's What That Actually Means. If you hold a token called EigenLayer on the South Korean exchange Bithumb, the label on your screen is about to change.
Bithumb, one of the biggest crypto exchanges in Korea, said it will rename EigenLayer (ticker: EIGEN) to EigenCloud. The switch goes live at 9:00 a.m. You do not need to do anything.
The exchange handles the swap automatically. A quick word on what EigenLayer is, since the name is doing a lot of work. It is a project built on top of Ethereum that lets people "restake" their ETH.
Restaking is a fancy way of saying: take the ETH you have already locked up to help secure the Ethereum network, then put it to work securing other networks too.
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