BitMEX, a cryptocurrency trading platform, has announced that it would airdrop its BMEX tokens by February 1, 2022, in a move to win back users.
The current active address and new users could earn BMEX tokens deposited to their BitMEX.com wallet from Tuesday.
BitMEX announces that the supply of the native token is pegged at 450 million and vests in five years. Most of the tokens are used in rewarding users and expanding the BitMEX network.
The platform has allotted 20% of its token to its employees and 25% towards the advancement of the network.
BMEX tokens are earned from part of the fees generated in the platform trading activities, and the exchange expects to roll out more use cases.
BitMEX, founded in 2014, derived its name from Bitcoin Mercantile Exchange. The platform brought bitcoin and perpetual futures to the digital assets market.
Glassnode, an analytic software, shows that BTC futures volumes on BitMEX stand at around $1 billion in the past day compared to about $23 billion on Binance.