BitMax.io (BTMX.com) has announced the listing of GateChain Token (GT). GT is used to pay for gas fees on GateChain, and obtain fee discounts on Gate cryptocurrency exchange as well as the rights for participation on the Gate cryptocurrency exchange’s STARTUP project, a platform which hosts initial exchange offerings (IEOs) and discounted sales of liquid tokens.
With the listing of GT, BitMax.io (BTMX.com) will strengthen its leading trading platform status for leveraged trading on digital asset exchange platform tokens; BitMax.io already offers leveraged trading for BNB, OKB, HT, and KCS.
About Gate.io and GateChain Token (GT)
Gate.io is a cryptocurrency exchange that was founded in 2013. The exchange’s early mover advantage has enabled it to become a major player in the cryptocurrency exchange industry. Gate.io offers leveraged spot trading for a wide menu of cryptocurrencies.
In an effort to expand its portfolio of services, Gate.io recently announced the launch of GateChain, which is a blockchain that will enable a decentralized exchange under the Gate brand. The Gate decentralized exchange, a product that will ensure users retain full ownership of their assets while making cryptocurrency trades, will serve as an alternative to the centralized Gate exchange. All transactions made on the Gate decentralized exchange will operate on the GateChain and will thus require transaction fees in GateChain Tokens. Beyond this, GateChain Token acts as the native utility token of the Gate ecosystem, enabling users to unlock various benefits on the Gate cryptocurrency exchange.
The listing of GT on BitMax.io (BTMX.com) offers greater exposure to the GateChain Token while enabling the aggregate trading communities of both Gate and BitMax to access leveraged spot positions for various exchange tokens on a single platform.
About BitMax.io (BTMX.com)
BitMax.io is the industry’s next-generation digital asset trading platform that provides a broad range of financial products and services to both retail and institutional clients across the globe. This innovative trading platform was founded by a group of Wall Street quant trading veterans and built upon the core values of blockchain, transparency and reliability, to deliver high-quality client services and trading experience.
The BitMax.io platform goes beyond the transaction-mining model as it uses a combined trading model of “transaction-mining” and “reverse-mining.” Platform users receive BTMX tokens (BitMax.io platform native token) as rewards for trading on the platform under the “transaction-mining” mode; they receive rebates for executing maker trades under the “reverse-mining” mode. “Reverse mining” is a separate mechanism to encourage liquidity provision and support overall circulation of the platform token. This setup with multiple trading modes can meet diversified user needs.
BitMax.io always strives to provide its global users with a comprehensive set of trading products. BitMax.io enabled margin trading on Feb. 14th, 2019. The margin trading function is another step forward from a product-offering perspective to better serve their dynamic trading needs. For BitMax.io users who understand and acknowledge the risks involved in margin trading, they are now able to leverage their tradable asset for potential higher return on investment through margin trading with sound risk management. The list of digital assets that can be traded on margin has increased from initial four to 18 different tokens, even including BTMX. It’s another pioneering move for BitMax.io to enable margin trading in its own native token. It expands the utility functions of BTMX, and incentivizes liquidity on the platform. (The margin trading function of BitMax.io is not available for North American markets.)
Similar to the innovative margin trading launched on BitMax.io, introduction of this unique Volatility Card has again showcased the team’s deep understanding of inner working of capital market and their advanced expertise in financial product design. BitMax.io Volatility Card is the first volatility-linked derivative product of this platform that allows global users to forecast and trade off price fluctuation of underlying major coins during preset time windows in a simple yet effective way. Named as Turtle and Bunny Card after Aesop’s fable – the Tortoise and the Hare, the card has quasi-option structure for underlying trading pairs yet largely simplified payout form. User can purchase different card for the prediction of price movement either within certain range (Turtle Card) or above certain range (Bunny Card). Those who predict correct range of price movement will receive the payout equivalent to notional value of the card. Volatility Card uses simplified payout form without complication of settlement and clearing issues common for real currency options. Users just simply select which card to purchase to trade on their view of volatility of underlying asset either within or above certain range. It is easy to understand and use for all types of traders with need for either very short-term momentum trading or partial risk hedging against outsized price swing in very volatile market condition.
Building on the commitment to industry top-tier product offering and high-quality customer service as a part of its client-centric strategy, BitMax.io has expanded its global client base to over 180,000 registered users with 53,000 active community members. The listing of GT not only broadens its trading pair scope but also attract more volume and users to the platform
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