The program is an attempt to spur new user growth and reinvent the platform’s image.
Cryptocurrency derivatives exchange BitMEX is looking to rebuild its brand through a new partner program it hopes will drive user traffic to the platform.
The “BitMEX Partner Programme” aims to connect users with trading tools to “enhance their trading experience” while simultaneously rewarding up to 12 fresh industry partners. The partners, in turn, will steer user activity to the platform, on Wednesday.
In order to achieve its goal, BitMEX said it will be working with its partners to build technical integrations into the exchange, including providing them with access to the platform’s API, white-glove service and internal resources. In return, the partners are to receive a split of the commission pot paid by end-users. Rebates for trading integrations will also be rewarded to their partners.
Freshly inducted partners include Hash CIB, Coinigy, CryptoSquawk, Drakdoo, Kaiko, Tardis, Paxos, 3Commas, CryptoStruct, NapBots, Stacked and WunderBit. The partners are to be broken into separate tiers with each offering different rewards depending on the type of activity they’re involved in, according to the program’s webpage.
BitMEX’s program touches on several areas including trading software, algorithmic bot platforms, order and execution management system providers, brokers and data providers, among others.
Automated trading platform 3Commas and market data provider Tardis will offer privileges and promotions to BitMEX users over the coming days, according to the release.
The move comes as the platform seeks to redefine its image after a dramatic saga with the platform’s co-founders. The exchange recently hired a new CEO and has pivoted towards other trading products outside of derivatives after its founder and early executives were accused of violating U.S. laws.
“This is a great way to provide more value to our existing users as well as reach out to new ones by incentivising partners to extend exclusive offers to BitMEX users while rewarding them for referrals they make to us,” BitMEX’s CEO Alex Hoptner told CoinDesk via email.