BitMEX has introduced Guilds, a social trading space where verified users can form a Guild to trade competitively as a collective and exchange ideas and strategies.
BitMEX, the world’s leading crypto derivatives exchange, has introduced a new concept in social trading for professional traders with the beta launch of Guilds.
Guilds is accessible to all BitMEX users; new, existing, or returning. It provides a dedicated space for users to form a Guild with other traders and trade competitively as a collective.
Guilds also enable users to exchange ideas, insights, and trading strategies.
The objective of a Guild is to outperform the other ones and claim a coveted top three spots on the Guild Leaderboard, thereby winning a share in the Guild Pot – a weekly prize pool.
How Guilds Work
Each Guild is led by its leader, who is also responsible for customizing and defining its identity.
Once the Guild is established, other users can join and converse with each other in a dedicated private chat room seamlessly integrated into the trading UI.
Any verified BitMEX user can be a Guild member. They can choose to start a Guild as a leader or join an existing one, in which every Guild can host up to 49 members.
The beta launch, introduced on June 29, 2023, has attracted over 230 beta testers, with traders earning nearly $330,000 in PnL last week.
As industry veterans, BitMEX understands the expectations and requirements of professional traders, especially when more Wall Street players enter the space and ETF applications become more accessible to institutions.
The initial success of BitMEX’s latest offering gives confidence in its direction with product development and its ability to empower and support traders through its comprehensive ecosystem.
The Benefits of Joining a Guild
By joining a Guild, users can benefit from various advantages, such as:
- Low fees: Users can enjoy reduced fees of up to 50% on all trades made within their Guild.
- Big rewards:Â Users can win cash rewards from the weekly Guild Pot by ranking among the top three Guilds on the leaderboard. The Guild Pot is funded by BitMEX and distributed among the winning Guilds according to their performance.
- Social interaction:Â Users can interact with other like-minded traders in their Guild chat room and share their opinions, tips, and strategies. Users can also learn from each other and improve their trading skills.
- Fun and excitement:Â Users can experience the thrill of competing with other Guilds and climbing up the leaderboard. Users can also customize their Guild name, logo, and motto to express their identity and style.
For more information on how to join or create a Guild, visit the BitMEX blog and Guilds page
