BitMEX Delays Listing Its Own Token
- July 12, 2022
- 0
Cryptocurrency exchange BitMEX has delayed the listing of its BMEX token, citing “unideal market conditions”. 📣We have decided to postpone the listing of BMEX while we wait for
Cryptocurrency exchange BitMEX has delayed the listing of its BMEX token, citing “unideal market conditions”.
📣We have decided to postpone the listing of BMEX while we wait for the general crypto market conditions to improve.
Why? Why? We want to list BMEX in an environment that gives you the best chance to reward: our community.
Thanks for your patience and stay tuned.https://t.co/pkSsYvljVN
— BitMEX (@BitMEX) 12 July 2022
The platform explained the decision as a desire to better reward its users.
“We are future oriented, BMEX listing remains a key priority” said representatives.
In December 2021, BitMEX announced the launch of its own token. 31 January 2022 platform users 1.5 million BMEX received during the airdrop.
BitMEX will distribute a total of 450 million BMEX over five years. It is assumed that most of the tokens will be spent to reward users and improve the ecosystem. For this, the exchange will reserve 45% of the issue.
Asset holders will receive a number of benefits, including:
- discounts on trade commissions;
- compensation payments upon withdrawal of funds;
- Higher profitability of deposits on BitMEX Earnings;
- early access to new products on preferential terms;
- Free access to BitMEX Academy training courses.
The exchange plans to buy back and burn some of the tokens quarterly.
Recall that the listing should be done after the launch of the platform for spot trading in cryptocurrencies.
In the spring of 2021, the current head of BitMEX, Alexander Heptner, presented an updated platform development strategy that he hopes to become the world’s leading cryptocurrency exchange. Spot trading and custody services, especially for crypto assets, should appear on the platform.
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