BitMEX announced the launch of its native token BMEX, joining other cryptocurrency exchanges like Binance and FTX who offer similar tokens. 

BitMEX is ending the year with a bang, after the cryptocurrency and derivatives platform today announced the launch of a native token. 

Called BMEX, holders of the token can enjoy trading rebates, better rates for the exchange’s Earn product, access to BitMEX’s trading academy, and more. 

Marketing materials for the BMEX token indicate that it will have a maximum supply of 450 million vested over five years. Of that supply, 20% is already earmarked for BitMEX employees. The exchange will use “another 25% for [its] long-term commitment to the token and ecosystem.” 

The exchange will begin distributing the tokens on February 1, 2022, via an airdrop to eligible users.

The first 50,000 new users who signup before January 31, 2022, and complete BitMEX’s KYC protocol will receive 5 BMEX tokens and 10 Thether (USDT). Users can earn another 15 BMEX tokens for getting three other people to do the same before the January deadline. Join BitMex airdrop