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BitMEX Pioneers Guilds, New Social Trading Concept

Thu, 07/13/2023 - 12:30
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Vladislav Sopov
Currently in beta version, Guilds are designed to help new and experienced traders in coordinating their activity and working together on new investing ideas
BitMEX Pioneers Guilds, New Social Trading Concept
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As a veteran cryptocurrency exchange platform, BitMEX drives forward innovations in the social trading segment. Its Guilds mode is now in beta testing phase with 230 testers already using its instruments.

BitMEX launched Guilds service, novel social trading function

According to the official statement by the BitMEX team, it has introduced Guilds, an entirely new concept in the turbulent sphere of social trading. In BitMEX Guilds, everyone can create a closed group with other traders to invest competitively as a collective and share ideas, market insights, news and trading strategies.

Guilds are constantly competing to outperform each other and claim third place on the Guilds leaderboard. Three Guilds with the best PnL scores can share the Guild Pot, a weekly prize pool introduced by BitMEX.

Stephan Lutz, CEO and Group CFO of BitMEX, stresses the importance of Guilds' launch for BitMEX's strategy and the entire segment of social trading as a whole:

Guilds is not just designed to drive collaboration amongst the BitMEX trading community, it stands as a testament to our commitment to helping our traders thrive and recognises 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.

Guilds beta mode was activated on June 29, 2023. Its testing program attracted over 230 beta testers. In total, their weekly PnL surpassed $300,000.

Every Guild can onboard 49 members maximum.

Guild leaders need to have 10,000 BMEX staked

The trading activity of a Guild is coordinated by its leader, who is also responsible for customizing and defining its identity. Meanwhile, every BitMEX user who passes KYC checks can claim Guild group status.

Guild leaders must have 10,000 BMEX, or roughly $3,615 in equivalent, staked and hold the authority to manage participants of their own Guild. Once the Guild makes it to the top three of the leaderboard, the Guild leader is responsible for claiming rewards from the BitMEX Guilds Pot.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)