Place/Date: - November 26th, 2018 at 7:50 pm UTC · 5 min read
Contact: BitMax.io, Source: BitMax.io
With its relentless focus on transparency, reliability, and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space.
As the world’s first true 3rd-generation cryptocurrency exchange platform, BitMax.io officially launched reverse mining with trans-fee mining for the public on Nov 18, 2018, at 8:09 PM EST (Nov 19, 2018, at 9:09 AM, CST).
These services have gone live along with new, industry lowest commission rates that have been set to encourage more trading activities on the platform, as well as very tight market spread rates as compared to the wider crypto exchange market. When coupled with mining and reverse mining, BitMax.io’s low trading commission rates can help traders save substantially in terms of fees.
BitMax.io enhances the trader cost savings in two key areas: by offering the lowest trading commission in the market (0.04%), and by providing users access to highly liquid trade markets that lead to very tight market spreads.
Furthermore, BTMX token design with respect to mining, storage, and token consumption architected to provide price stability and potential longer-term value, in relative to other industry players over the long run. BitMax.io set aside large portion of daily transaction fee revenue as the Data Usage Fee Pool (“fee pool”) for those users who sign up for the data sharing.
As BitMax.io’s revenues grow, the platform’s fee pool grows incrementally. However, since the total number of BTMX tokens in circulation gets smaller over time, the distribution of fee pool for those token users can get higher and higher.
Next, we have token economics. BTMX token economics has built-in incentive mechanisms, including reverse-mining and token consumption that manage the number of tokens in circulation, and design of fee pool distribution that supports the value of holding BTMX on the longer term from price point of view to daily return from the fee pool.
The BitMax.io platform keeps the information up-to-date on the front page, which again attests to their commitment to being transparent and client-centric.
How is this possible? The way the BitMax.io data usage fee pool is structured with the longer term of view. Other exchanges give out daily revenue completely every day and users have to be fully dependent on the next day’s business performance for next day distribution, which is unpredictable.
BTMX token economics is different from that in terms of distributing certain portion of the pool on a daily basis and demonstrate the steady growth day after day. Therefore, the users can see the longer-term value from holding BTMX over period of time.
Low rates are part of the BitMax.io project vision and mission to offer liquid, high-performance and low-cost crypto trading experiences to everyone. Furthermore, BitMax.io’s team of Wall Street quant trading veterans have architected innovative trading protocols that are redefining the way exchanges operate.
These protocols, namely reverse mining with trans-fee mining, place heavy emphasis on fairness, liquidity, and trade-based income streams for traders of all sizes with differentiation between maker and taker trades.
Now that the platform has successfully established the best commission rate in the market, and with reverse mining and trans-fee mining protocols launched and in place, BitMax.io is happy to announce that 10 billion BTMX have been allocated for mining and reverse mining for all traders!
All crypto enthusiasts are invited to this exciting launch and are encouraged to participate in BitMax.io trading in order to earn BTMX tokens and to earn from mining while enjoying transaction rebates with reverse mining for maker trades.
To recap the benefits of these models, trans-fee mining incentivizes trading on the platform by allowing traders to earn a new, valuable token, the BTMX platform utility token, whenever they conduct a trade. BitMax.io deducts trade transaction fees from users but then credits the user’s account with BTMX tokens of the same value.
This is a vastly different approach to traditional exchange trading in which transaction fees are simply deducted from orders.
As for reverse mining, it incentivizes the users who places maker trades by giving them a rebate of transactions fee in exchange for an equivalent market value of the platform’s native BTMX token that the user holds in their account. The maker trades are those trades that have not been filled immediately and remain open either partially or fully (such as a limit order). The deducted BTMX tokens are then put into permanent lock-up, effectively moving them from the market supply.
Reverse mining and trans-fee mining not only enhance the trading efficiency for traders and investors, but also help support the pricing levels for BTMX tokens on the secondary market while putting in place an important check-and-balance mechanism for stability and liquidity in times of volatility.
With the tight market spread, industry-lowest trading fee, and trading-focused mining and reverse mining protocols, BitMax.io provides the users across the globe with equal access to the user-friendly tools and services that they need to benefit from participation in the cryptocurrency market. The token economics design with the longer-term driven distribution of data usage fee pool will definitely enhance the overall value of the platform.
The financial and technical expertise of the BitMax.io team and the platform’s growing user-base further assert BitMax.io as the leading platform of the future, and the team is excited at the launch of the new trading model and look forward to helping future generations of traders benefit from trade and investment in the crypto space.