Digital asset exchange BitMEX has announced its native token, BMEX. The tokens commence its airdrop on 1 February 2022 with the token becoming tradeable on BitMEX upon the launch of its Spot exchange in early Q2 2022. BitMEX is a crypto derivatives – futures marketplace based in Seychelles.
According to a statement by the company, all BitMEX users are eligible for BMEX airdrops. The crypto will be awarded to users for trading and referral activity, and will also be given to all new BitMEX users.
Alexander Höptner, CEO of BitMEX, issued the following statement:
“BitMEX has ambitious plans to transform into a full crypto exchange ecosystem in 2022, and the launch of BMEX marks a rebirth. We’re doing things differently by making sure active BitMEX users (new and existing) will be the first to receive BMEX through airdrops – we’ll be awarding millions of BMEX. This is an exciting milestone for BitMEX, and it is my hope that as we continue to grow, BMEX will grow with us.”
BMEX states that it will be minting a maximum supply of 450 million BMEX. It will give traders new rewards and benefits within the BitMEX ecosystem, enabling trading fee discounts, enhanced yields on EARN products, early access to new products, and more. BitMEX is pursuing this strategy to boost utilization of its crypto marketplace.
Eligible individuals must do the following to receive BMEX:
- Sign up for a BitMEX account: New users who complete KYC will receive 5 BMEX tokens and 10 USDT.
- Refer 3 friends: Get 3 friends to register an account and complete KYC, and receive 15 BMEX tokens as the referrer.
- Trade with BitMEX: Existing users will be airdropped BMEX as a reward for their trading. The more you trade, the more BMEX you’ll be eligible for.
Bitcoin is pursuing this strategy to regain some of the luster lost following the allegations leveled by the CFTC in October 2020, alleging that BitMEX and its three individual founders, Arthur Hayes, Benjamin Delo, and Samuel Reed transgressed securities law. The CFTC assessed a $100 million penalty on BitMEX as well.
Since Höptner became CEO of BitMEX he has sought to right the ship, comply with AML/KYC requirements while aiming to boost trading activity.