NEW YORK, NY / ACCESSWIRE / November 9, 2018 /BitMax.io is the global operator of an innovative digital asset trading platform with a broad range of products and services for global retail and institutional clients (including institutions, professional traders, and private investors). With its relentless focus on transparency, reliability, and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space.
With a core management team comprised of experienced executives from Wall Street top-tier institutions, Deutsche Bank, Barclays Capital, Morgan Stanley, and Goldman Sachs, as well as highly skilled technical leaders with academic credentials from top-tier global institutions such as Columbia University, the University of Chicago, and Peking University, the BitMax.io team has attracted strategic investment from top venture capitals including Matrix Partners China, FBG Capital, BitMain, and Danhua Capital.
Since its launch on August 13, the platform has registered over 50,000 users across the globe and now boasts 25 active crypto trading pairs, with additional listings under review.
Beyond having an institutional-grade platform, an experienced management team led by Wall Street quant trading veterans, and the backing of top-notch VC firms, BitMax.io is also highly user-focused and provides a wide range of client-focused services and benefits for its users.
The first of many benefits Bitmax.io provides is record low transaction fees: On October 10th, 2018, Bitmax.io adjusted its trading fees from 0.1% to 0.04%, the lowest transaction fee in the industry. Furthermore, thanks to trading innovations such as transaction-fee based "Trans-Fee Mining," BitMax.io provides high levels of liquidity while also allowing traders to earn BTMX, BitMax.io native tokens, as an alternate source of exchange income.
In addition to the financial benefits of the platform, BitMax.io also provides exceptional infrastructure support and seamless trading experiences, thanks to 24/7 global operations, real-time trade settlement, high trading frequencies, and the fastest transaction rates in the industry at 400k TPS.
BitMax.io also features deep and highly liquid order books. Not only is the platform's infrastructure, mining models, and trading services designed to deliver high liquidity, but also due to the BitMax.io team's in-depth wealth of experience and resources in the industry, it has been able to strike strategic partnerships with other platforms to deliver unprecedented services to its customers. Two of these partnerships, formed with Indian crypto exchanges Giottuss and Coindelta, will facilitate the sharing of order books across all three exchanges, thereby creating a deeper and a richer user base across the globe and providing users with higher liquidity and security from price fluctuations during trades.
The development of industry partnerships, the ability to attract users and strategic investments, and the introduction of innovative mining models that provide traders with alternative sources of income all play in favor of BitMax.io's future growth and success as a trading platform. As part of its growth, BitMax.io is publishing detailed distribution rules for BTMX tokens that are mined during transaction mining, which are as follows.
Since BTMX tokens constitute a new form of utility value on the BitMax.io platform, BTMX token holders who agree to share transaction data will receive further platform benefits as an incentive to continue holding BTMX. BitMax.io will pay users for BTMX usage data, including mining, execution price, and other token circulation information in order to better manage BTMX statistics on the platform. Users who sign up and agree to share their token transaction information with BitMax.io will have 80% of the total platform transaction fee revenue distributed back to them.
Furthermore, in order to stabilize the daily distribution rate that is in effect every day, a Data Usage Fee Pool ("the Pool") will be set up using 80% of net transaction fee revenues. The Pool will redistribute 1/180 of the balance back to BTMX holders.
- Daily Deposit into the Pool = Daily Net Transaction Fee * 80%
- Daily Distribution of the Pool = Daily Data Usage Fee Pool Balance / 180
- Individual Share of Platform Data Usage Distribution = Daily Distribution of the Pool * (24HR Weighted Average BTMX position / Aggregation of Total User Effective BTMX Position)
Daily settlements of data usage fee distribution will start at UTC 00:00 based on the previous 24-hour distribution amount and will be paid into individual user accounts on BitMax.io at UTC 04:00 in the currency in which user transactions were executed.
BitMax.io has quickly risen to levels of prominence in the cryptocurrency trading and exchange space. It provides traders with revenue-generating trading models such as transaction mining that differentiates maker vs taker trades, along with user-friendly features such as the real-time settlement of trades and institutional-grade trading architectures that support seamless trading experiences. High liquidity, deep order books, and easy-to-use trading and investment services designed by the highly technical and experienced management team also add to BitMax.io's service offerings, ensuring robust growth and improved user features and services in the future.
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