BitMex plans to issue its token

Cryptocurrency exchange BitMEX wants to follow the path of Binance and issue a token. The airdrop of the BMEX coin will take place on 02/01/2022. The emission will amount to 450 mln.

All clients of the exchange, both existing and new, will be able to benefit from the emergence of tokens. It will be possible to pay less commission, as users will be provided with preferential prices for trading on the BitMEX spot exchange and when using other exchange products. Also, traders will be able to get 25% cashback from the amount of the spent commission in BMEX tokens.

The internal token will also make a huge difference to the exchange itself. It will go to reward the community and develop the BitMex ecosystem. Another 20 percent will be reserved for exchange staff, and 25 percent will be held in the long term.

Note that for US residents, the use of BMEX will be prohibited due to difficult relationships with regulators from the United States. This is due to the exchange's allegations of violating KYC procedures and a lawsuit filed against BitMEX in 2020.

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