BitMEX to Launch and Airdrop its Own Token ‘BMEX’

A new user will get 5 BMEX and 10 USDT as a reward for opening an account and for completing the compulsory Know Your Customer checks.
BitMEX to Launch and Airdrop its Own Token ‘BMEX’

In Brief:

  • BitMEX announced the launch and airdrop of its BMEX tokens.
  • The account holders will get airdropped BMEX tokens by February 2022.
  • The BMEX token will have a maximum supply of 450 million and will be vested for a period of up to 5 years.

The crypto exchange BitMEX announced the launch and airdrop of its native token BMEX to account holders in early 2022.

“We will be airdropping crypto tokens (BMEX) in your BitMEX.com wallets by 1 February 2022,” BitMEX said. As of Tuesday,  active, current and new users can earn BMEX tokens.

As per the announcement, both new and existing BitMEX users can gain early access to the BMEX tokens. A new user will get 5 BMEX and 10 USDT as a reward for opening an account and for completing the compulsory Know Your Customer (KYC) checks. 

The reward plan also enables users to earn the new digital assets anytime the platform users complete trading on the BitMEX platform.

Referrals is one way BMEX tokens can be earned by users. The collected tokens will be airdropped in their BitMEX spot wallets and can be cashed when trading begins in early Q2 2022. Tokens will be listed in its trading platform as well as other targeted spot exchanges, as per the firm.

The BMEX token will apparently have a maximum supply of 450 million and will be vested for a period of up to 5 years. According to the trading platform, the large majority of BMEX will be spent to reward users and expand the BitMEX ecosystem. The firm has made an allocation of 20% for its employees and another 25% for its long-term commitment to the ecosystem and token.

Users holding BMEX will also enjoy perks like trading fee discounts, the enhanced yield on Earn products, priority access to products, participation in swag raffles, and other such benefits.

Meanwhile tokens are used for other purposes too, for instance, trading , yielding and also governing DAOs.  Recently, FreeRossDAO, a DAO, had airdropped FREE tokens to govern its $5.5M treasury.

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