BitMEX Launches Guilds – Social Trading the BitMEX Way

July 13, 2023 – Mahe, Seychelles

BitMEX, the world’s leading crypto derivatives exchange, introduces a brand new concept in social trading for professional traders, ‘Guilds.’

Currently, in beta testing, Guilds is accessible to all BitMEX users – new, existing and returning – offering them the opportunity to explore and actively engage with fellow traders.

Guilds is a dedicated spaces 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.

The creation of 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.

Guilds leaderboard on BitMEX

Stephan Lutz, CEO and group CFO of BitMEX, said,

“Guilds is not just designed to drive collaboration [among] 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 – introduced on June 29, 2023 – has attracted over 230 beta testers, with traders earning nearly $330,000 in PnL last week.

The recent progress achieved by BitMEX marks a significant and encouraging milestone for the company as it strives to provide its valued users with an ever-expanding crypto ecosystem that caters to their diverse trading needs.

Lutz added,

“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.”

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.

Guild leaders must have at least 10,000 BMEX staked and hold…