Bitmart exchange recently launched it Mission X programme and listed 13 new projects, as trading pairs, for their utility token, the BMX. The project accumulated a whopping $12 million on the first day of trading and paid investors $12,000 in dividends.
The MissionX program gave birth to the BMX market, a community listing market that is bent on changing the status quo of the way things are done in the nominal market, through innovation that will aid the blockchain technology. The market has already garnered over $14 million from supporters and investors alike, who believe in the mission of the market.
The BMX Community Market
The BMX community listing market is a new concept, though similar to Fcoin “Trans-free mining” model but its distinct in many ways. Most projects that apply to the project on the Listing review team are qualified for free listing, once they're able to attain an investment that can span well over a million BMX tokens from fans.
If a project can meet the prerequisite of the investment, the project will automatically be listed as a trading pair of BMX on the platform. This is entirely different from FCoins’ who only afford its customers and users 10% of the trading fees from projects they invest in.
Another merit of the Bitmart program is that it rewards its users with all of the trading fees from the BMX market.
The CEO of Bitmart and founder Sheldon Xin said,
“This program gives users the ability to decide which project users want to be listed on the exchange, creating a self-regulated market. It also allows projects newly out of their ICO stage to obtain a listing on a major early in their development path, spanning growth and innovation for blockchain technology.”
The New 13
The new Bitmart project called MissionX has gotten off to a flying start with 13 strong project qualifying for free listing on the BMX market. Headlined by projects like Fcoin token (FT), EOS, 0x (ZRX). While 0x (ZRX) is an open permissionless protocol allowing for ERC -20 tokens to be traded on Ethereum blockchain, when EOS is one of the biggest cryptocurrency, weighing in at the top ten spot. The project is a blockchain decentralized system that allows the hosting, development, and execution of commercial-scale decentralized applications (DApps) on its platform.
FCoin on its part is a utility token behind the FCoin exchange, that’s the most popular of all recent “trans-free mining model” platforms.
Though analysts are of the opinion that unregulated coins are a danger to the society, as one will not be able to differentiate between a scam and real projects. But with adequate measures from different quarters, digital exchanges will surely fade away the traditional stock, in the nearest future.