BitMEX introduces tokens with Airdrop for Exchange users

BitMEX has a token, and active users are queuing for an airdrop.

The central theses

• BitMEX will release a token called BMEX in early 2022.
• The exchange is arranging an airdrop to distribute the tokens to new and existing BitMEX users.
• Holders receive advantages on the exchange.

BitMEX has described BMEX as “the mark for true believers”.

BitMEX launches BMEX

BitMEX starts a token.
Tweet

The early cryptocurrency exchange announced at BMEX on Tuesday, announcing that it will be releasing a whitepaper for the token in early 2022. According to the press release, it will be tradable when its spot exchange goes live in the second quarter of next year.

Described by BitMEX as “the token for true believers”, BMEX will also be distributed to new and existing users of the exchange via an airdrop from February 1, 2022.

The press release states that new users will get 5 BMEX and 10 when they sign up for an account, while three successful referrals will earn 15 BMEX. Active BitMEX traders also receive an allocation based on their activity on the exchange. “The more you trade, the more BMEX you are entitled to,” BitMEX has confirmed.

Alexander Höptner, the CEO of BitMEX, noted that the exchange was prioritizing its users with the token and that it would become “a full crypto exchange ecosystem” in 2022. He said:

“We’re doing things differently by making sure that active BitMEX users (new and existing) are the first to receive BMEX through Airdrops – we’re going to give away millions from BMEX. This is an exciting milestone for BitMEX and I hope that BMEX will grow with us as we continue to grow. “

The BMEX offering will be capped at 450 million, and holders will be entitled to benefits such as discounts on trading fees, higher returns on BitMEX’s credit products, and early access to new products.

BitMEX isn’t the first crypto team to airdrop its users, although the move is an outlier compared to other similar token distributions as it is a centralized exchange.

Token airdrops usually come with DeFi-Projects that want to give ownership to their users. Notable airdrops of the past year include the -based logs,, and Ethereum Name service.

Another popular centralized exchange, Crypto.com, has its own token called, which offers holders similar benefits as what BitMEX promises. CRO has rebounded to after this year Market capitalization in 16th place in the Cryptocurrencies to stand. It remains to be seen whether BMEX is capable of a similar run.