One of the famous cryptocurrency exchanges BitMexannounced the launch of its highly anticipated local token BMEX towards the end of last December.
In the announcement, it was announced that the BMEX token, which will be minted with a supply of 450 million for both new users and existing users, will start to be distributed from February 1, 2022.
The expected day for BitMex users has arrived. In its blog post, the famous exchange stated that 1.5 million BMEX units were distributed to users in the first BMEX airdrop.
The BMEX tokens distributed in the first airdrop were distributed according to the previous transactions made by the users on the exchange.
Ethereum-based BMEX tokens will be distributed piecemeal to eligible users over a 5-year period. BMEX tokens will be used to reward new and existing users and get discounts on transaction fees.
Distribution of BMEX Token:
“5% of BMEX Tokens for future airdrops,
20% to provide liquidity when BMEX spot trading is initiated,
20% for BitMEX employee incentives,
30% for marketing and affiliate awards,
25% is reserved as long-term reserves.”
The statement also stated that it plans to burn BMEX tokens every three months in order to increase the utility of BMEx for exchange users.
Stating that token holders can start staking BMEX from February 1, the exchange announced that BMEX spot transactions can be made from the second quarter of this year.
…our BMEX Token Litepaper is now LIVE.
You can read it in full here: https://t.co/5isRhqZiI8
TL:DR? Here’s your recap.👇 pic.twitter.com/4nYcWMmvrg
— BitMEX (@BitMEX) January 31, 2022
*Not investment advice.