Crypto Exchange BitMEX To Airdrop Its New Native Token
2 min read

Crypto Exchange BitMEX To Airdrop Its New Native Token

By News Desk

BitMEX will be launching a new native token and airdropping it to users of the crypto exchange.

The exchange, one of the oldest in the industry, revealed on Tuesday that it would be releasing a whitepaper for the new BMEX token sometime early next year.

According to the announcement, BMEX will be spent to reward users and grow the BitMEX ecosystem. An allocation of 20% will be reserved for BitMEX employees and another 25% for the exchange’s “long-term commitment to the token and ecosystem.”

The token will have a maximum supply of 450 million, vested over a period of up to five years. Users can acquire BMEX through the airdrop by earning them through participating in various offers on the exchange, or by buying them on the BitMEX platform and other select exchanges when they go live in early Q2 of next year.

According to BitMEX:

“BMEX Token is the reward and engagement Token for the BitMEX.com ecosystem, and will enhance users’ overall trading experience on BitMEX. BMEX holders will enjoy a range of benefits including trading fee discounts, enhanced yield on Earn products, priority access to products, participation in swag raffles and many more.”

With Binance, FTX, Crypto.com, and countless other exchanges already with their own native tokens, BitMEX will be relatively late to the party, especially considering how long its been around.

It’s possible that Coinbase will also follow suit at some point. In the US exchange’s February filing with the SEC to go public, it mentioned the possibility of needing to raise more capital in the form of “blockchain tokens.”

“We may issue shares of capital stock, including in the form of blockchain tokens, to our customers in connection with customer reward or loyalty programs. If we issue additional equity securities, including in the form of blockchain tokens, stockholders will experience dilution, and the new equity securities could have rights senior to those of our currently authorized and issued common stock… The trading prices for our common stock may be highly volatile, which may reduce our ability to access capital on favorable terms or at all.”

Newsletter Inline

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Latest Posts

Trader Joe Review
Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche
Trader Joe Review

Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche

July 2, 2022 30 min read
Huobi Global Review
Huobi Global Review 2022: Good Exchange with DEEP Liquidity
Huobi Global Review

Huobi Global Review 2022: Good Exchange with DEEP Liquidity

June 29, 2022 37 min read
FTX vs FTX US Review
FTX vs FTX US: Which one is BEST for You?
FTX vs FTX US Review

FTX vs FTX US: Which one is BEST for You?

June 27, 2022 14 min read
Bancor Review
Bancor Review: Impermanent Loss Protector?
Bancor Review

Bancor Review: Impermanent Loss Protector?

June 22, 2022 15 min read
Bridge Mutual Review
Bridge Mutual: Insurance for your Crypto
Bridge Mutual Review

Bridge Mutual: Insurance for your Crypto

June 22nd, 2022 22 min read
Serum Review
Serum Review: Solana’s One-Stop DeFi Toolbelt
Serum Review

Serum Review: Solana’s One-Stop DeFi Toolbelt

June 16, 2022 17 min read
Raydium Review: Solana’s DeFi Liquidity Mammoth

Raydium Review: Solana’s DeFi Liquidity Mammoth

June 11, 2022 17 min read

Related Posts

Trader Joe Review
Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche
Trader Joe Review

Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche

July 2, 2022 30 min read
Huobi Global Review
Huobi Global Review 2022: Good Exchange with DEEP Liquidity
Huobi Global Review

Huobi Global Review 2022: Good Exchange with DEEP Liquidity

June 29, 2022 37 min read
FTX vs FTX US Review
FTX vs FTX US: Which one is BEST for You?
FTX vs FTX US Review

FTX vs FTX US: Which one is BEST for You?

June 27, 2022 14 min read
Bancor Review
Bancor Review: Impermanent Loss Protector?
Bancor Review

Bancor Review: Impermanent Loss Protector?

June 22, 2022 15 min read
Bridge Mutual Review
Bridge Mutual: Insurance for your Crypto
Bridge Mutual Review

Bridge Mutual: Insurance for your Crypto

June 22nd, 2022 22 min read
Serum Review
Serum Review: Solana’s One-Stop DeFi Toolbelt
Serum Review

Serum Review: Solana’s One-Stop DeFi Toolbelt

June 16, 2022 17 min read
crypto com
Crypto.com Exchange Review 2022: A World-Class Crypto Exchange
crypto com

Crypto.com Exchange Review 2022: A World-Class Crypto Exchange

June 14th, 2022 30 min read