BitMEX launches BMEX and describes it as “a mark for true believers”.

Exchanges Disclosure that they will publish the whitepaper for the token in early 2022 and that it will be available for trading when the spot exchange goes live in the second quarter of next year.

From February 1, 2022, BMEX will also be distributed to new and existing users of the exchange by airdrop. The press release states that new users will earn 5 BMEX and 10 USDT when they sign up for an account, while three successfully referred users will earn 15 BMEX. Active BitMEX traders are also allocated based on their activity on the exchange.

“The more you trade, the more you qualify for BMEX”.

CEO Alexander Höptner commented that the exchange is giving users priority when using the token and that it will become a “full crypto exchange ecosystem” by 2022.

“We’re doing things differently by making sure new and existing BitMEX users are the first to receive BMEX through the Airdrop – we’re going to be giving away millions from BMEX. This is an exciting milestone for BitMEX and I hope that BMEX will grow together as it goes on. ”

The supply on BMEX will be limited to 450 million and holders will enjoy benefits such as reduced trading fees, higher returns on BitMEX loan products and early access to other products.

BitMEX isn’t the first crypto team to airdrop its users, although the move is a bit different from other token distributions as it is a centralized exchange.

Notable airdrops of the past year include the Ethereum-based 1inch, dYdX, and Ethereum Name Service protocols. Another popular centralized exchange, Crypto.com has its own token called the CRO, which offers holders benefits similar to what BitMEX promises.

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