Bitmex’s BMEX Token Opens to Trading

Bitmex exchange, which has attracted attention with its spot trading steps recently, opens its local token BMEX, which it announced last year, on Friday.

Crypto derivatives exchange Bitmex has announced that it will open its own token, BMEX. With the token, which will be used to reward customers, the stock market wants to have a say in the derivatives market as before. In the statement, it was stated that the reward mechanism related to BMEX will provide benefits such as transaction fee reduction, reduction in withdrawal fees, improved staking rewards and easier access to new services and products.

Announcing the BMEX token in December last year, the exchange airdropped millions of tokens to more than 80,000 customers in February. The token, which would normally be listed in June, was postponed due to market conditions. Speaking about the listing, the company’s marketing manager, Benjamin Usinger, said that they chose this time to increase liquidity and bring the crypto markets back to life.

The token will be traded on BMEX/USDT spot pair, and there will also be two perpetual contract pairs, BMEXUSDT and BMEXUSD. For Bitmex, which once held 35% of the derivatives markets, the current figure is only 2 percent. As it will be remembered, the CEO of the stock market, Alexander Höptner, resigned in the past weeks. The company terminated the employment of some of its employees, again citing market conditions as a reason.