Hassan Maishera
TL;DR
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Guilds allows users to converse, collaborate and conquer with fellow traders
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To date, the βeta phase has attracted over 230 testers, earning nearly $330K in PnL
BitMEX Introduces Guilds
BitMEX, the world’s leading crypto derivatives exchange, announced the launch of Guilds, its social trading feature for professional traders.
In a press release shared with Cryptowisser, BitMEX said Guilds is currently in its Beta testing phase and is accessible to all BitMEX users. The feature offers users the opportunity to explore and actively engage with fellow traders.
Guilds is a dedicated space where users can form a Guild with other users, to trade competitively as a collective and exchange ideas, insights and trading strategies.
The objective of a Guild is to outperform the other ones and claim a coveted top three position on the Guilds Leaderboard, thereby winning a share in the Guild Pot - a weekly prize pool.
Guilds are created by leaders, who are tasked with customizing and defining the identity of their Guilds. Upon the launch of a Guild, other users can join and converse with each other in a dedicated private chat room seamlessly integrated into the trading UI.
While commenting on this latest cryptocurrency news, 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 recognizes 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.”
The beta launch was introduced on June 29, 2023, and more than 230 testers have joined so far.
BitMEX said the recent progress recorded is a huge milestone for the company as it continues to work hard to provide its users with an ever-expanding crypto ecosystem that caters to their diverse trading needs.
Lutz added that;
“As industry veterans, we understand the expectations and unique requirements of professional traders, especially during times when more Wall Street players enter the space and ETF applications are being made more accessible by institutions. The initial success of BitMEX's latest offering gives me the confidence in the direction we are taking with product development and in our ability to empower and support traders through our comprehensive ecosystem."
Verified BitMEX users can become Guild members. They also have the option of launching a Guild and serving its leader or joining an existing Guild. Each Guild can have up to 49 members.
In addition to that, BitMEX added that Guild leaders must have at least 10,000 BMEX staked and hold the authority to manage participants of their own Guild, and, if won, the distribution of the Guild Pot.
BitMEX is the leading crypto derivatives exchange, providing professional crypto traders with a platform that caters to their needs with low latency, deep liquidity and unmatched reliability.
