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.
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.”