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  • Writer's pictureDavid Manion

BitMEX launches Guilds for social trading.


BitMEX launches Guilds for social trading.
BitMEX launches Guilds for social trading.

Mahe, Seychelles, July 13th, 2023, Chainwire


BitMEX, a leading cryptocurrency derivatives exchange, has launched a new feature called Guilds, currently in beta testing. Available to all BitMEX users, Guilds allows traders to form groups and trade collectively while sharing ideas and strategies. The goal of each Guild is to outperform others and secure a spot in the top three positions on the Guilds Leaderboard, which comes with a share of the weekly prize pool. Each Guild is led by a designated leader who is responsible for customizing and defining its identity. Once established, other users can join and communicate in a private chat room integrated into the trading UI. BitMEX launches Guilds for social trading.


Guilds Leaderboard on BitMEX


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BitMEX's CEO and Group CFO, Stephan Lutz, has expressed that Guilds is a tool that not only encourages collaboration amongst BitMEX traders, but also demonstrates BitMEX's commitment to helping their traders succeed. Guilds is an example of the power of social trading, and by participating in a Guild, traders can learn from one another and unlock their full potential.


Since its βeta launch on June 29, 2023, Guilds has attracted over 230 βeta testers, with traders earning nearly $330,000 in PnL last week. This is a significant milestone for BitMEX as they continue to expand their crypto ecosystem to cater to their diverse trading needs.


Lutz, an industry veteran, understands the expectations and unique requirements of professional traders, especially with the increasing number of Wall Street players entering the space and ETF applications becoming more accessible by institutions. The success of Guilds gives him confidence in BitMEX's product development and their ability to empower and support traders through their comprehensive ecosystem.


Any verified BitMEX user can become a Guild member, either by starting their own Guild or joining an existing one. Each Guild can host up to 49 members, and Guild leaders must have at least 10,000 BMEX staked and hold the authority to manage participants of their own Guild, as well as the distribution of the Guild Pot.


As the community continues to test Guilds, more developments are expected to evolve, providing an advanced social trading experience for BitMEX users.


About BitMEX

BitMEX is a reputable cryptocurrency derivatives exchange that provides professional traders with a low-latency platform, deep liquidity, and unmatched reliability. Since its establishment, BitMEX has not experienced any cryptocurrency loss due to intrusion or hacking, ensuring that users can trade with confidence, knowing that their funds are secure. Additionally, BitMEX was among the first exchanges to publish on-chain Proof of Reserves and Proof of Liabilities data, which is updated twice a week to assure users that their entrusted funds are safely stored and segregated. For more information, visit the BitMEX Blog or www.bitmex.com, and follow Discord, Telegram, and Twitter. For further inquiries, please contact press@bitmex.com.


Disclaimer: This is a paid release that was not written by Crypto Online News. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Crypto Online News. Crypto Online News does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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