What is BitMart Token (BMX)?
BitMart is a Singapore-based digital asset trading platform that was established in 2017, although it did not begin to operate publicly until March 15, 2018. It is officially registered in the Cayman Islands and has offices located in China, South Korea, and America.
The platform provides a vast selection of trading opportunities to meet the varying requirements of investors, including futures contracts, over-the-counter (OTC) trades, and spot transactions. There are more than 110 coins listed on BitMax with in excess of 230 different trading pairs available for traders to pick from.
The BitMart token is the native asset of the exchange. It was initially released as BMC in December 2017. However, it underwent a name change to BMX in January 2018. The token is based on the ERC-20 token standard. The live Bitmart token price is featured on the live chart above.
BMX Use Cases
BitMart Lending is a financial product designed to provide passive income. It consists of lending projects that feature their own investment terms and returns. To join in, users need to sign up for and lock in a certain number of BMX coins. Once the staking period is over, participants receive both the original tokens they locked in and any interest earned into their BitMart accounts. The annualized rate of interest varies depending on the token type. As of writing, it can range from 5% all the way up to 120%.
Besides, BMX holders are entitled to trading commissions on their trades made on the platform.
Additionally, they can get discounts as well, by simply holding BMX crypto tokens in their wallets.
Care to see the main changes in the BMX price? Don't forget to check the Bitmart token price chart.
Who Founded Bitmart?
The BitMart staff is composed of individuals from 13 different nations. They boast a wealth of professional knowledge in blockchain technologies and finance, having formerly been employed by renowned tech companies such as Amazon, Accenture, Tencent, and Alibaba.
Sheldon Xia is the co-founder and CEO of BitMart. He has a background in founding Xingmei Media Company, being a serial entrepreneur, and one of the first digital currency developers.
Javen Lou is another co-founder of this project. He serves as Chief Marketing Officer and has experience in marketing, branding, and forming technology product images. Before coming to BitMart, he had worked at Intel Corporation and Bachi.Tech.
Terence Lee is the Chief Product Officer who has a wealth of knowledge concerning human-computer interaction and user experience design. He has spearheaded the development of trading system products, as well as founded a renowned cross-border online shopping platform in China.
BMX Tokenomics
There is no max supply set for BMX tokens. The token distribution of the initial supply was divided into the following categories: 30% for certain participants, 30% for the founding team, 20% for community rewards, and 10% each for whitelist investors and early adopters.
Make sure to take a look at the Bitmart token price chart before making any purchasing decisions.
