BitMEX Launches Guilds, Aims to Redefine Social Trading for Crypto Traders

Key highlights

• BITMEX’s Guilds is designed to provide a dedicated space for traders to collaborate, exchange ideas, and trade competitively as a collective.
• The βeta phase of Guilds has seen remarkable success, with over 230 βeta testers joining and earning nearly $330,000 in profit and loss (PnL) in a single week.

World’s leading crypto derivatives exchange, BitMEX has announced today the launch of its latest product, Guilds, a new concept in social trading designed to foster collaboration and enhance trading strategies among professional traders.

With the recent success of the βeta phase, attracting over 230 testers and generating nearly $330K in profit and loss (PnL), BitMEX aims to revolutionize the way traders engage with each other while amplifying their trading potential.

As a leading crypto derivatives exchange, BitMEX is renowned for its low latency, deep liquidity, and unmatched reliability, catering specifically to professional crypto traders. Initiated on June 29, 2023, the successful βeta launch of Guilds, has garnered significant attention, with traders earning nearly $330,000 in PnL within a single week. This milestone achievement serves as a testament to BitMEX’s continuous efforts in expanding its crypto ecosystem to cater to the evolving needs of its valued users.

BITMEX’s Guilds to Allow Members Leverage Exclusive Social Trading Experience

Following its design, Guilds offers BitMEX users, both new and existing, a unique opportunity to connect, converse, and conquer the markets collectively. By forming a Guild, traders can collaborate with like-minded individuals, sharing insights, ideas, and trading strategies. The ultimate objective is to outperform other Guilds and secure a top three position on the Guilds Leaderboard, granting access to a weekly prize pool known as the Guild Pot.

Each Guild is led by its designated leader, responsible for customizing and defining the Guild’s identity. Once established, users can join the Guild and seamlessly communicate with fellow members through a dedicated private chat room integrated into BitMEX’s trading user interface.

Stephan Lutz, the CEO & Group CFO of BitMEX, expressed the unwavering commitment of the company to nurturing collaboration within the trading community. Lutz highlighted that Guilds, far beyond being a mere collaboration tool, symbolizes their dedication to empowering traders and acknowledging the immense influence of social trading. By becoming a part of a Guild, BitMEX aspires to create an environment where traders can tap into their full potential by embracing the wisdom and knowledge shared within their cohort.

Furthermore, Lutz underscored their confidence in the future of product development. Recognizing the expectations and distinctive needs of professional traders, particularly in the midst of increased participation from Wall Street and the growing accessibility of ETF applications, BitMEX stands prepared to meet these challenges head-on. The initial triumph of BitMEX’s latest offering serves as a resounding vote of confidence, affirming their dedication to driving product innovation and their unwavering ability to empower and support traders through a robust and comprehensive ecosystem.

Notably, any verified BitMEX user can become a Guild member, either by starting their own Guild as a leader or joining an existing one. Each Guild can accommodate up to 49 members. Guild leaders are required to stake a minimum of 10,000 BMEX and possess the authority to manage participants within their Guild, as well as oversee the distribution of the Guild Pot if victorious.

Nonetheless, with ongoing community testing, BitMEX anticipates further developments in Guilds, aiming to provide an advanced social trading experience that caters to the unique needs of BitMEX users.

Conclusion

BitMEX’s launch of Guilds marks a significant milestone in the world of crypto trading, introducing a groundbreaking concept that fosters collaboration and enhances trading strategies among professional traders. With the remarkable success of the βeta phase, attracting a large number of testers and generating substantial profits, BitMEX has demonstrated its commitment to revolutionizing the way traders engage with each other. By providing a platform for traders to connect, share insights, and compete collectively, Guilds empowers traders to tap into their full potential and amplify their trading success. As BitMEX continues to expand its crypto ecosystem and cater to the evolving needs of its users, Guilds stands as a testament to their dedication to innovation and providing a comprehensive trading experience.