BitMEX announces its own token listing on November 11

The crypto exchange also launched futures trading on FTT

08.11.2022 - 13:00

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What’s new? Cryptocurrency exchange BitMEX will list the native token BMEX on November 11. The platform will also add the BMEX/USDT pair to spot trading and launch two perpetual swaps, BMEXUSDT and BMEXUSD. The exchange will airdrop BMEX through the end of 2022. The company noted that for depositing and staking the asset, rewards and privileges, free withdrawals, and trading fee discounts will be provided.

BitMEX Blog

What else did the company announce? Also on November 8, BitMEX launched futures trading on FTT, the native token of the FTX crypto exchange. BitMEX customers can trade FTT via FTTUSD and FTTUSDT with up to 50x and 33,33x leverage, respectively.

FTTUSD is a quanto contract with a fixed FTT price value in bitcoins (100 satoshi). It allows one to open long or short positions without using FTT or USD. FTTUSDT, on the other hand, is a perpetual swap with a minimum transaction amount of 0,1 FTT.

BitMEX Blog

BitMEX announced the launch of its token in December 2021 and as of January 2022 airdropped 1,5 million BMEX to users. In July, the exchange delayed listing the asset. The company’s representatives said that they were ready to put BMEX up for auction, but called market conditions “not ideal” for token holders.

In early November, BitMEX laid off 30% of its staff, citing a drop in the rates of most cryptocurrencies. In April, the company already reduced its staff by a quarter, which happened following the collapse of the deal to buy German Bankhaus von der Heydt.

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