BitMEX, one of the most popular crypto derivatives platforms, has decided to launch its native digital asset. They said the upcoming BMEX token will be broadcast on February 1, 2022, in the client’s exchange wallet.
We are excited to announce our token minting, BMEX 🔥
Tokens for True Believers!
Find out how to qualify for #BMEX #airdrop here: https://t.co/obpUxHySmJ pic.twitter.com/9naBGT08wM
– BitMEX (@BitMEX) December 21, 2021
BitMEX will issue its BMEX tokens to account holders in early 2022
50,000 new users with completed KYC can sign up to receive 5 BMEX tokens and 10 Tether (USDT). Existing traders will receive BMEX tokens when they trade. Specifically, they can earn up to 25% monthly trading fees in BMEX tokens at a 1:1 ratio, limited to 50,000 BMEX/month/user. There is also a referral program for users who can refer three friends to register and complete KYC, which will give the referrer 15 BMEX tokens.
BMEX will have a maximum supply of 450 million tokens. They will be minted at the same time and have a shelf life of up to 5 years. The majority of BMEX will be used to reward users and grow the BitMEX ecosystem. “The 20% allocation is for BitMEX employees and another 25% for our long-term commitment to the token and the ecosystem.”
There is no list price on the value of each BMEX token as the market will determine them at the launch of the company’s spot branch in early Q2 2022. Until then, the tokens that are airdropped will be. cannot be withdrawn until spot trading commences.
BitMEX said it will buy and burn BMEX tokens quarterly and publish the details on its website, similar to Binance burning its BNB tokens.
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