BitMEX reschedules BMEX listing event

Crypto exchange BitMEX same, it’s deferred the listing of its native token BMEX thanks to unfavorable market conditions. In an exceedingly recent web log post, the exchange said, though they’re able to list BMEX, this market conditions don’t seem to be ideal. Once asked regarding when the coin would possibly eventually be listed on its spot exchange, BitMEX official Twitter account said that when conditions are a lot of favorable.

Exchange native tokens are negative

Meanwhile, native tokens of different exchanges are showing principally negative leads to the past month. For example, at the time of writing, Binance’ BNB is down 17% in a month, Bitfinex’ LEO – virtually 3%, FTX’ FTT – 10%, whereas OKX’ OKB is up 4%.

at the start declared in late 2021, BMEX is associate degree ERC-20 token with a most offer of 450 millions. The token was expected to be listed on the exchange’ spot exchange in 2022. As reported, in late Jan 2021, the exchange airdropped BMEX 1.5 million to its new and existing users.

BMEX fundamentals

BMEX can have a maximum supply of 450 million tokens, unconditional, over an amount of up to five years. The massive majority of BMEX will be spent to reward users and grow the BitMEX ecosystem. Associate degree allocation of 20% is reserved for BitMEX workers and another 25% for our long-run commitment to the token and ecosystem,” the corporate explained in its FAQ.

BMEX token holders will earn up to 15% discounts in mercantilism fees and discriminatory rates on its derivatives and spot exchange. Holders will have the choice to stake their coins and earn rewards. Different perks embody early access to new products, participation in initial exchange offerings (IEOs), and influential person experiences and merchandise.

BitMEX airdropped 1.5 million BMEX, its initial native token, to users earlier this year because it looked to revive retail interest in an exceedingly progressively competitive crypto exchange market. The tokens were distributed supported a user’s activity on the exchange, as reported.

The Ethereum-based tokens are secured in a five-year vesting contract and have a most offer of 450 million. They’ll be accustomed to rewarding new and existing BitMEX users and permit them to induce discounts on mercantilism fees. In Tuesday’s post, BitMEX same it had sent “millions of tokens to tons of and thousands of users” which the tokens are already being staked to receive fee discounts, withdrawal refunds and different perks.