Mining and Liquidity. Why they need each other.
Trade volume is one of the most important factors that determines just how liquid a platform will be. See if more people are buying and selling coins the more liquid that platform will be. Liquidity really is of utmost importance especially in the crypto-market. Liquidity ensures all market prices remain ‘unbiased’ and fair for everyone, basically higher trading activities mean traders can sell at competitive buyers and buyers can bid at much higher prices.
Liquidity also keeps the prices stable and hard to manipulate. In an unstable market, people with huge amounts of money can 'flood' the market and influence prices in the market in their favor leading to an increase in volatility. Not to mention a liquid market is more seamless to work with, making it much easier for traders to buy and sell cryptocurrency.
BitMax understands all this. It understands that in order to keep their users happy it always needs to ensure there’s market liquidity on their platform.
I've been following up with BitMax for quite a while and i can confidently say - they're doing everything right. whether it's through their innovative platform or their user focus and all these are great, but my personal favorite is their Mining strategy, which is seriously as awesome as it sounds.
BitMax.io's mining offering for lack of better words - utilizes the trans-fee mining model - which is still quite unique to the world of cryptocurrency. Using this model, BitMax will issue BTMX tokens to users as a reward for making trades on the platform. In an industry that sees some exchanges levying up to 0.75% fees on trades, trading with a platform like BitMax that will distribute 80% of the platform's transaction fees to registered BTMX holders sounds too good to be true.
Not just -Mining-
BitMax also has a different incentive structure called Reverse-mining. This one is specifically focused on Makers or maker trades. A maker is that user that holds back and allows other users to make their trades when they need too. The name comes about because they are considered 'makers' of liquidity or in other words they provide liquidity.
For makers, the transaction rebate they got will be equal to the quantity of BTMX they get from reverse mining. So, for example if a maker’s trade is subject to a transaction fee of 10 Ethereum, (assuming 100 BTMX is equal to 1 Ethereum) 1000 BTMX will be deducted from their account and he or she will receive 10 Ethereum as rebate, a portion of his original investment.
*Please note that to participate in the mining program you first need to not accept BTMX's token terms and conditions as well as have all your BTMX tokens stored inside your BitMax.io account.
Final Thoughts.
Finally, BitMax will be placing an obligatory lock up for large sale orders in order to sustain BTMX’s token value as well as balance trading activities on the secondary market. To learn this and more, I’ll be linking a few useful links that you can use just in case you're interested.
You can read their whitepaper here
You can try out their test-net for transaction mining activities here
Please be aware that withdrawal and deposit options won't be available here.
You can also sign up and trade here. It's super simple.
BitMax is also on social:
On Twitter
On Reddit
On Medium
On Telegram X Chinese
Thank you for reading.
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Rhinoboy11
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Bitcoin Username: @Sammygye
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Great, I I like the reverse mining feature.
Posted using Partiko Android
thank you
It's my pleasure.
Posted using Partiko Android
Great, I I like the reverse mining feature.
Posted using Partiko Android