BitMart Token

Halal Rating :
Comfortable
Last Price $0.26 Last updated:
Rank 513
1D Change 6.47 %
Market Cap $85.34m
Circulating supply 324,281,616
Maximum supply None

Crypto Overview

Categories
  • Marketplace

Overview

BitMart Token (BMX) is the native token of the BitMart cryptocurrency exchange platform. Launched in 2018, BMX serves as a utility token within the BitMart ecosystem.

Intended Utility

BMX was designed to provide various benefits to BitMart exchange users, including: trading fee discounts, participation in platform governance, access to exclusive token listings and trading events, and rewards for platform activities.

Actual Utility and Implementation

The token is actively used within the BitMart exchange ecosystem. Users can receive trading fee discounts of up to 20% when paying fees with BMX tokens. The token maintains consistent trading volume and liquidity on the BitMart exchange, where it serves its primary utility functions.

Token Distribution and Governance

BitMart has implemented a transparent token distribution model with clear allocations for different purposes. The exchange regularly burns tokens to manage supply and maintain value. While detailed vesting schedules for team tokens are not publicly available, the exchange has maintained consistent operations since 2018 without signs of manipulative selling.

Technology and Development

BMX operates as an ERC-20 token on the Ethereum blockchain. The technology is straightforward and well-established. The token's primary utility is tied to the BitMart exchange's operations rather than independent technological development.

Crypto Impact

To assign a comfort level investing in BitMart Token from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to BitMart Token.

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