BitMEX Accused Binance of Plagiarism in the Development of Derivatives Platform

BitMEX Accused Binance of Plagiarism in the Development of Derivatives Platform

A message appeared on Twitter of the BitMEX derivatives exchange, in which the Binance exchange is accused of copying part of the documentation related to the futures trading service.

“Congrats on the Testnet Futures launches. Glad to see you enjoyed reading our documentation as much as we enjoyed writing it!” – was told in the message.

In particular, we are talking about the description of the auto deleveraging option and the financing rate, which has a 100 percent match with the corresponding BitMEX documents.

Binance CEO Changpeng Zhao immediately commented on the accusations.

https://twitter.com/cz_binance/status/1169134771122970624

“Shame on us. Sorry about that. Missed this in the DD process before the acquisition (didn’t read the BitMex docs ourselves). Will fix/remove ASAP.” – he commented under publication.

According to the words of Zhao, it turned out that the description of the instruments, which is located on BitMEX, appeared on the new Binance site as a result of the acquisition of the JEX derivatives platform. CZ also added that Binance has prepared its documentation for the futures exchange, which is being developed from scratch.

On Monday, the company announced the start of testing two platforms for trading futures contracts, and also opened a vote among its users for the platform, which will become the official division of Binance under the Binance Futures brand in the future. Voting will last until September 8th. Users who choose a winner will receive a 50% discount on commission costs for 1 month.

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