In Brief:
- Crypto exchange, BitMEX published a Litepaper about its native token BMEX.
- Out of the total supply of tokens, 450 million tokens will be airdropped.
- The token holder will get discounts on fees and preferential rates on derivatives and spot exchange.
Crypto exchange and derivative platform, BitMEX published a Litepaper with the blueprint of its native token ‘BMEX’ launch. The Litepaper also revealed an airdrop of 5% of the total token supply, which is around 450 million tokens for the next 5 years of the span.
As per the lite paper, The exchange will provide numerous benefits to BMEX holders. The token holder will get a discount on the fee and preferential rates on derivatives and spot exchange. Other than this, they will get more staking rewards and early access to the new products.
On top of these benefits, users with more than 50,000 tokens will be eligible to get VIP services.
The crypto exchange also plans to provide numerous benefits in the upcoming time including free access to BitMEX Academy, an increased rate of return on BitMEX’s yield product EARN, and others.
“Through innovation, engineering, and product development, BitMEX will be giving millions of crypto investors who believe in a democratised and global crypto market, the tools used by professional money managers,” BitMEX stated.
The token will be issued in two separate phases, BMEX Airdrops, and BMEX Spot exchange. Users can earn BMEX tokens through daily trading until Q2 2022. “The more you trade and use/ BitMEX, the more you can earn.” Also, token holders will be able to trade through spot exchange.
Before this BitMEX already announced the plan to launch a native token with Airdrop.
