Popular crypto exchange platform, BitMEX is about to end the year in a special way, as the platform announced the launch of its very own native token Called BMEX, holders of the token can enjoy trading rebates, better rates for the exchange’s Earn product, access to BitMEX’s trading academy, and more.
Further analysis performed by flipmemes showed that the BMEX token will have a maximum supply of 450 million vested over five years.
From that supply, 20% is already earmarked for BitMEX employees.
The exchange will use “another 25% for [its] long-term commitment to the token and ecosystem.
” The exchange will begin distributing the tokens on February 1, 2022, via an airdrop to eligible users. The first 50,000 new users who signup before January 31, 2022, and complete BitMEX’s KYC protocol will receive 5 BMEX tokens and 10 Tether (USDT). Users can earn another 15 BMEX tokens for getting three other people to do the same before the January deadline.
Existing users can also emass up to 25% of their trading fees in BMEX by trading on the exchange.
Trading is expected to begin “in early Q2 2022.”