What is BMEX token?
BMEX is the utility exchange token of the BitMEX ecosystem, designed to enhance users’ trading experience on BitMEX. According to the BitMEX exchange, BMEX holders will enjoy a range of benefits including trading fee discounts, enhanced staking rewards on BitMEX EARN products, participation in swag raffles and many more.
The token was mint in December 2021 but not released or got listing until November 11 2022.
Who founded BitMEX?
The BitMEX exchange was founded by founder Arthur Hayes, Benjamin Delo and Samuel Reed in 2014 with the aim of creating a pure futures contract trading platform. In 2016, BitMEX introduced perpetual swap contracts for the first time in the Crypto space. To date, it remains one of the leading digital asset derivatives exchanges in terms of trading volume.
What is the utility of BMEX token?
The BMEX Token will be at the core of the BitMEX ecosystem and BMEX holders can enjoy benefits such as:
- Trading fee discounts and preferential rates on our derivatives and BitMEX Spot exchange
- Withdrawal fee reimbursement • Early access to new products
- Participation in IEOs on BitMEX Spot
- Increased staking rewards on BitMEX EARN
- Exclusive privileges and experiences such as early product access, swag, and tickets to sporting events
- VIP service for large token holders
- As the BMEX Ecosystem grows, quarterly burning of BMEX tokens
For more detailed token allocation and vesting plan, please visit here.