Crypto exchange BitMEX is launching its own token, to airdrop to both existing and new users

Crypto exchange BitMEX is launching its own token, to airdrop to both existing and new users

BitMEX, one of the oldest crypto exchanges currently under litigation, is set to launch its own token and will airdrop to both its existing and new users.

Announcing the news on Tuesday, BitMEX said its BMEX token will be airdropped by February 1, 2022 in customers' BitMEX wallets.

New users with completed KYC can register to get 5 BMEX tokens and 10 Tether (USDT) stablecoins. Existing traders will get BMEX tokens as they trade. There is also a referral program for users who can refer 3 friends to sign up with completed KYC to get 15 BMEX tokens.

BMEX will have a maximum supply of 450 million tokens, vested over a period of up to 5 years.

"The large majority of BMEX will be spent to reward users and grow the BitMEX ecosystem," said BitMEX. "An allocation of 20% is reserved for BitMEX employees and another 25% for our long-term commitment to the token and ecosystem."

This is a breaking story and will be updated...

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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