BitMEX Crypto Trading Platform Announces Native Exchange Token BMEX

BitMEX, one of the first cryptocurrency exchanges to begin offering derivatives products like futures contracts, has announced the launch of a native token called BMEX. Token holders will be able to enjoy a host of benefits including trading rebates, better rates for the exchange’s Earn product, access to BitMEX’s trading academy, and more. The Seychelles-based crypto exchange plans to publish the BMEX whitepaper by the end of January 2022 and begin distributing the tokens on February 1, 2022, via airdrop to eligible users.

https://twitter.com/BitMEX/status/1473232650756317188?s=20

BitMEX states on its website that the BMEX token will have a maximum supply of 450 million vested over five years. Of that supply, 20 percent is already earmarked for BitMEX employees. The exchange will use “another 25 percent for [its] long-term commitment to the token and ecosystem.”