BitMEX Launches Token With Airdrop for Exchange Users

BitMEX Launches Token With Airdrop for Exchange Users


Key Takeaways

BitMEX will release a token called BMEX in early 2022.
The exchange is arranging an airdrop to distribute the tokens to new and existing BitMEX users.
Holders will receive benefits on the exchange.

Share this article

BitMEX has described BMEX as “the token for true believers.” 

BitMEX Launches BMEX

BitMEX is launching a token. 

The early cryptocurrency exchange announced BMEX Tuesday, revealing that it would drop a whitepaper for the token in early 2022. According to the press release, it will become tradeable when its spot exchange goes live in Q2 next year. 

Binance

Described by BitMEX as “the token for true believers,” BMEX will also be distributed to the exchange’s new and existing users via an airdrop commencing Feb. 1, 2022. The press release notes that new users will receive 5 BMEX and 10 USDT when they sign up for an account, while three successful referrals will earn 15 BMEX. Active BitMEX traders will also receive an allocation based on their activity on the exchange. “The more you trade, the more BMEX you’ll be eligible for,” BitMEX has confirmed. 

Alexander Höptner, the CEO of BitMEX, remarked that the exchange was prioritizing its users with the token, and that it would become “a full crypto exchange ecosystem” in 2022. He said: 

“We’re doing things differently by making sure active BitMEX users (new and existing) will be the first to receive BMEX through airdrops – we’ll be awarding millions of BMEX. This is an exciting milestone for BitMEX, and it is my hope that as we continue to grow, BMEX will grow with us.”

The BMEX supply will be capped at 450 million, and holders will be entitled to benefits like trading fee discounts, higher yields on BitMEX’s lending products, and early access to new products. 

BitMEX isn’t the first crypto team to reward its users with an airdrop, though the move is something of an outlier relative to other similar token distributions given that it’s a centralized exchange. Token airdrops are typically associated with DeFi projects looking to give ownership to their users; notable airdrops of the last year include the Ethereum-based protocols 1inch, dYdX, and Ethereum Name Service. Crypto.com, another popular centralized exchange, has its own token called CRO, which gives holders similar benefits to the ones BitMEX is promising. CRO has rallied this year to become the 16th-ranked cryptocurrency by market cap. Whether BMEX is capable of a similar run remains to be seen. 

Disclosure: At the time of writing, the author of this feature owned ETH, ENS, DYDX, and several other cryptocurrencies. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

BitMEX Will Introduce Bitcoin SegWit Support

BitMEX has announced changes to its operations, aiming to improve Bitcoin transaction efficiency by adding SegWit support. What Is SegWit? Segregated Witness (SegWit) was activated on Bitcoin on Aug. 24…

BitMEX Settles With CFTC and FinCEN for $100 Million

BitMEX has reached a settlement with two U.S. regulators, according to an announcement on the derivative exchange’s website. BitMEX Will Pay $100 Million BitMEX has reached a resolution with two…

MDEX: Overlooked Decentralized Exchange That Pays You to Trade

Based on statistics from DeBank and dapp.com, one of the top-performing decentralized exchanges by TVL and trading volume this year is MDEX—an AMM-based DEX functioning across the Huobi Eco-chain (HECO), Binance Smart Chain…

Ten DeFi Protocols Rumored for Token Airdrops

Following 1inch’s well-received token airdrop, Crypto Briefing experimented with several other protocols that may be next to launch a token. Here, we list our top ten. Early Users Reap Airdrops…





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

You have not selected any currency to display

Pin It on Pinterest