What is BMX (BitMart Token)?
BMX, or BitMart Token, refers to the cryptocurrency created by BitMart.
BMX runs on the Ethereum chain and follows the ERC20 standard.
The total supply of BMX is 1 billion, and BitMart plans to use 20% of each quarterly profit to buy back and burn BMX until 50% of BMX is destroyed.
- Pay transaction fees
- When using BMX to pay the handling fee, users will enjoy 25% off the handling fee.
- Used as public chain fuel
- If BitMart publishes the BitMart public chain in a decentralized exchange, BMX can be used as fuel.
The easiest way to buy BMX is on BitMart. BitMart provides multiple BMX trading pairs for users to trade.
BMX is an ERC-20 coin. Therefore, any wallet that supports Ethereum can be used to store BMX. If you do not see the assets in the wallet, you may need to point the wallet to the smart contract address of BMX Token
BMX Community Update: Security and Decentralization
BitMart is happy to announce that BMX will be fully decentralized starting August 23, 2022. Major upgrades include the deployment of Gnosis Safe and timelock. This will help the BMX team and DAO to provide more secure and decentralized governance.
Gnosis Safe is the most trusted and viable platform for managing digital assets, providing DAOs and teams with state-of-the-art multi-signature capabilities. A timelock is a smart contract that delays a function call of another smart contract after a predetermined time has elapsed, giving the BMX team and the DAO enough time to assess the risk of any major transaction.
BMX token deployment address: 0x986EE2B944c42D017F52Af21c4c69B84DBeA35d8, owner role address is 0x5B7b9C0a51Eaf0324815cF8Fb6ffD84Ab2900069, which is a Timelock contract.
The administrator of the Timelock deployment is 0x53e5FE23807489F5FE1e07f11A464f04A79F9e82, which is a Gnosis security deployment.
The Gnosis Safe contract is managed by the BMX core team and the BMX DAO. Any transaction requires confirmation by 2 of the following 3 addresses:
0x7623641bc08d716f08a6b747a45290b1a68419d8
0xD91A8cBF3EAB3DC0e322364F7536B766C843fC64
All addresses use hardware wallets to manage their private keys.
BMX is an ERC-20 token created to support the BitMart ecosystem.
Its vision is to make cryptocurrencies accessible to everyone everywhere, and this financial freedom will bring further economic innovation, efficiency and equality to the world. The BMX team will provide timely project updates through the official website.
Please check BitMart official website or contact the customer support with regard to the latest information and more accurate details.
Please click "Introduction of BitMart", if you want to know the details and the company information of BitMart.
Comment by Hans
April 24, 2024
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