BMEX, the official token from BitMEX crypto exchange is ready for launch
BitMEX, a major cryptocurrency exchange registered in Seychelles, has revealed that the exchange will be launching its token, which will be called BMEX. The token will be listed on the exchange, and new and old users on the platform will be eligible to receive free BMEX. The platform made the announcement via Twitter.
BMEX token coming next year
BitMEX revealed in the official tweet that the BMEX token will be the official token of the platform and is the "token for true believers." The token will be airdropped to both new and old users on the platform by February 1, 2022.On the other hand, the first 50,000 registered users of the platform with full KYC are eligible to register for the process and get 5 tokens followed by 10 Tether (USDT0 stablecoins. Furthermore, existing users of the platform are authorized to earn up to 25% in trading fees in BMEX in a 1:1 ratio. However, this privilege is capped at 50,000 per month for any user.
Furthermore, there is an added benefit from a referral program in which a user can refer 3 friends or family members and earn as much as 15 BMEX.
More details are yet to come
The total supply of the coin is fixed at 450 million units, and the minting of the tokens will be done once in the entire lifetime and will be vested for a period of five years."The large majority of BMEX will be spent to reward users and grow the BitMEX ecosystem," said BitMEX. "An allocation of 20% is reserved for BitMEX employees and another 25% for our long-term commitment to the token and ecosystem."
Furthermore, BitMEX will reveal the details surrounding the BMEX token and a detailed overview of rewards and benefits in the litepaper, which will be launched in January 2022. Furthermore, the token will be listed on the BitMEX Spot exchange when it is launched in Q2 2022. Until that time period, users won't be able to withdraw their BMEX tokens.
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