Difference between revisions of "BitMEX (BMEX)"

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*[[Bug bounty]] program can be found [insert here].
*[[Bug bounty]] program can be found [insert here].
*[[SafeCEX]] [https://www.safecex.club/ scored] it 28% (8-12-2022):
''"⌛️ 29 days since [[Proof of Reserves]]''
''📎 [https://blog.bitmex.com/bitmex-provides-snapshot-update-to-proof-of-reserves-proof-of-liabilities/ Announcement]''
''🔎 Assets included: [[Bitcoin (BTC)|BTC]]''
''❌ [[Merkle Tree|Merkle tree]] not available or not verifiable online''
''❌ Merkle tree not open sourced''
''✅ [[Wallet]] [[addresses]] made public''
''❌ Wallet ownership not audited by third-party''
''❌ Wallet ownership not proven publicly by custom message"''


===Bugs/Exploits ===
===Bugs/Exploits ===
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==Token==
==Token==
===Launch===
===Launch===
* The launch of BMEX was delayed because of market conditions, but the exchange’s CEO [https://www.coindesk.com/markets/2022/10/02/crypto-futures-exchange-bitmex-ceo-expect-an-exchange-token-this-year/ wants] (2-10-2022) to get it launched before the end of 2022.
===Token Allocation===
===Token Allocation===



Latest revision as of 04:31, 8 December 2022

A CEX

Basics

History

Audits & Exploits

"⌛️ 29 days since Proof of Reserves

📎 Announcement

🔎 Assets included: BTC

Merkle tree not available or not verifiable online

❌ Merkle tree not open sourced

Wallet addresses made public

❌ Wallet ownership not audited by third-party

❌ Wallet ownership not proven publicly by custom message"

Bugs/Exploits

  • Had a day of chaos on 1-11-2019: "Customers Doxxed, Twitter Account Hacked, Reports of Slow Withdrawal Times"

Governance

Admin Keys

DAO

Treasury

Token

Launch

  • The launch of BMEX was delayed because of market conditions, but the exchange’s CEO wants (2-10-2022) to get it launched before the end of 2022.

Token Allocation

"There are a few ways to get the BMEX token and one way is to register as a new user and complete the KYC process. People who do this will get five BMEX and ten tether (USDT) tokens. Bitmex says that the company will airdrop coins to existing and new users by February 1, 2022. Users can also earn BMEX by trading on the exchange or referring at least three friends to register."

Utility

  • According to the announcement (22-12-2021), traders can save up to 25% trading by leveraging BMEX tokens.

Other Details

Stablecoin

Coin Distribution

Technology

  • Whitepaper or docs can be found [insert here].
  • Code can be viewed [insert here].

Implementations

  • Built on:

How it works

Fees

Upgrades

Mining

Staking

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Compliance

  • BitMEX has announced a User Verification (read KYC) program (25-8-2020).

Their Other Projects

Roadmap

  • Can be found [Insert link here].

Usage

Projects that use or built on it

Competition

“BitDEX: Building a Decentralized BitMEX with Priceless Financial Contracts”

"The U.S. CFTC filed money-laundering and related charges against exchange BitMEX. The regulatory enforcement agency said that BitMEX was illegally operating in the U.S. Separately, the U.S. Attorney in New York filed related criminal charges against the owners, Arthur Hayes, Ben Delo, and Samuel Reed."

Pros and Cons

Pros

Cons

Team, Funding and Partners

Team

Funding

  • Awarded a $60,000 non-exclusive grant to Micheal Ford to continue working on Bitcoin Core.
  • Bitcoin Core often construed as an elite inner circle holding the Bitcoin network hostage. BitMEX Research disagrees, looking at three different ways competition exists within Bitcoin: between chains, between independent implementations, and other competing software projects; BitMEX finds that regardless of an offshoots goals, it requires network consensus. In the same manner, Bitcoin Core requires network consensus and its actual power is vastly overestimated; the ability to alter or maintain code does not mean it will be adopted by the greater network. (However it is good to keep in mind that BitMEX has given grants to Bitcoin Core devs before to continue their work. It could be that they are genuine about this research, or that they have a bias.)
  • Invested in Blockfolio.
  • Gave a grant (8-12-2020) to Amiti Uttarwar.
  • Had a 3AC position which it liquidated after the UST fallout in May 2022.

Partners

(:

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