BitMEX is a cryptocurrency exchange and derivative trading platform. The trading company released it LITEPAPER as it is set to launch 1.5 million BMEX tokens to both existing and new verified customers. The airdrop is set to start today, February 1st 2022 which would happen in two phases; the tokens would not be withdrawable in phase 1, it can only be earned. During the phase 2, when BitMEX spot exchange launches in Q2 of 2022, BMEX would become tradeable and available then restrictions of BMEX can be withdrawn.
On BMEX LITEPAPER called BMEX LITEPAPER V1.0.
BMEX built is an ERC-20 token built under ethereum blockchain with a total supply 450 million BMEX tokens to be distributed.
5% for future airdrop, 20% for product and liquidity, 20%for employee incentives, 30% for ecosystem growth and 25% for long term reserve
The airdrop was announced sometime late December which got me intrigued but upon seeing BMEX was an ERC-20 token, I was moved anymore nevertheless I registered.
5 BMEX tokens is equivalent 5000 USDT, 15 BMEX is equivalent to 1000USDT and 40 USDT is equivalent to 2000 USDT.
The launch of the token would be another milestone for the trading company as it's making an acquisition for a German bank, Bankhaus Von der Haydt which is to be competed by mid 2022.
The acquisition of Bankhaus Von der Haydt would easily put BitMEX on a scale as it already embraces blockchain technology and it's a fintech banking company.
BitMEX went through hard times in late 2020 when it's co-founders Ben Delo, Arthur Hayes and Samuel Reed were charged by the Defence of Justice DOJ with anti-money laundering regulations and illegally trading with its citizens.
This actually is a major come back for BitMEX as a whole and the new BitMEX CEO Alexander Höptner and CFO Stephan Lutz are making a new wave for the company in all ramifications.
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