BitMEX Launches Program to Reward Partners, Drive Platform Traffic

The program is an attempt to spur new user growth and reinvent the platform's image.

AccessTimeIconApr 28, 2021 at 3:00 a.m. UTC
Updated Sep 14, 2021 at 12:47 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Cryptocurrency derivatives exchange BitMEX is looking to rebuild its brand through a new program it hopes will drive user traffic to the platform.

The "BitMEX Partner Programme" aims to connect users with trading tools to "enhance their trading experience" while simultaneously rewarding up to 12 fresh industry partners. The partners, in turn, will steer user activity to the platform, according to a press release shared with CoinDesk on Wednesday.

In order to achieve its goal, BitMEX said it will be working with other companies to build technical integrations into the exchange, including providing access to the platform's API, white-glove service and internal resources. In return, the partner companies are to receive a split of the commission pot paid by end users. Rebates for trading integrations will also be rewarded to the partner companies.

Those companies include Hash CIB, Coinigy, CryptoSquawk, Drakdoo, Kaiko, Tardis, Paxos, 3Commas, CryptoStruct, NapBots, Stacked and WunderBit. These are to be broken into separate tiers, with each offering different rewards depending on their type of activity involvement according to the program's webpage.

BitMEX's program touches on several areas including trading software, algorithmic bot platforms, order and execution management system providers, brokers and data providers, among others.

Automated trading platform 3Commas and market data provider Tardis will offer privileges and promotions to BitMEX users over the coming days, according to the release.

The move comes as the platform seeks to redefine its image after a dramatic saga with the platform's co-founders. The exchange recently hired a new CEO and has pivoted towards other trading products outside of derivatives after its founder and early executives were accused of violating U.S. laws.

“This is a great way to provide more value to our existing users as well as reach out to new ones by incentivising partners to extend exclusive offers to BitMEX users while rewarding them for referrals they make to us," BitMEX CEO Alex Hoptner told CoinDesk via email.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



Read more about