BitMEX, a pioneer in the cryptocurrency derivatives market, has introduced an innovative social trading concept called Guilds, targeting its professional traders. Guilds are dedicated spaces where users can collaborate with one another to form a collective for the purpose of engaging in cooperative trading and the sharing of trading-related information.
BitMEX is a leader in the crypto derivatives market because it provides a platform optimised for high-volume, institutional-grade crypto trading with low latency and high liquidity. To win a share of the Guild Pot, a weekly reward pool, a Guild must perform better than the other Guilds and finish in the top three spots on the Guilds Leaderboard.
Counting on Guilds to transform trading
Each Guild has a leader who oversees its formation and is tasked with giving it a unique flavour. Once a Guild has been created, other users can join and communicate with one another in a secure, in-app forum from within the trader’s interface.
The Guild is open to any verified user of BitMEX. Each Guild can have up to 49 members, so players have the option of either starting their own or joining an existing one. Leaders of Guilds must have at least 10,000 BMEX invested, and they have complete control over their members and, should they win, the distribution of the Guild Pot.
Guilds Leaderboard on BitMEX
Stephan Lutz, CEO & Group CFO of BitMEX said, “Guilds is not just designed to drive collaboration amongst the BitMEX trading community, it stands as a testament to our commitment to helping our traders thrive and recognises the power of social trading. By being part of a Guild, we hope that our traders can unlock their full potential by learning from their cohort.”
Guilds, which is now under Beta testing, is available to all BitMEX users, both new and old, giving them the chance to discover and interact with other traders. As of last week, traders who participated in the Beta launch (launched on June 29, 2023) had made over $330,000 in PnL.
BitMEX has made substantial and positive strides recently in its mission to give its valuable members with a growing crypto ecosystem that supports their various trading demands. Guilds offers BitMEX users a cutting-edge social trading experience, and the company says that more improvements are on the way as the community puts it through its paces.