New BMEX token in crypto market, those who register will get 5 BMEX and 10 Tether tokens

BitMEX is a cryptocurrency exchange, which was also the first to start offering derivative products like futures contracts and now, it has launched a token named BMEX. Investors who purchase this token will be able to take advantage of a host of benefits such as trading discounts, better rates for the exchange’s Earn product, access to BitMEX’s Trading Academy. The crypto exchange based on Seychelles is planning to issue the BMEX whitepaper by the end of January 2022 and will start issuing tokens to investors from February 1, 2022 via airdrop.

BitMEX has stated on its website that there will be a maximum supply of 450 million BMEX tokens over five years. 20% of that supply is already earmarked for BitMEX employees. The company says that “the remaining 25% of the tokens will be used for tokenization and the ecosystem.”

The initial 50,000 new users, who sign up for the token before January 31, 2022, and meet BitMEX’s KYC protocol, will receive 5 BMEX tokens and 10 Tether tokens. If a user adds three other people to BMEX before this deadline, he will get an additional 15 BMEX tokens. Existing users will be able to raise up to 25 percent of their trading fees in BMEX by simply trading on the exchange.

The price of each BMEX token is not currently known. This will be determined after the launch of the company’s spot branch in the second quarter of 2022. Please note that users will not be able to withdraw the token until the spot trading starts.