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.
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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
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.