What is BTMX

BTMX is a functional utility token native to AscendEX.  BTMX token holders are eligible for many platform services and benefits.

AscendEX has completed the implementation of the new smart contract solution for BTMX on October 23^rd, 2019. Total supply of BTMX has decreased from 1 billion to 787,683,613. Based on the amount of BTMX consumed, the equal amount of BTMX will be automatically converted to BTMXS. As a result, the total supply of BTMX displayed through the smart contract address will continue to decrease.

BTMX Circulating Supply Summary

BTMX Holder Rights and Ecosystem

1. Platform Currency

BTMX will be used as the unit of exchange for all services and operations offered on AscendEX. For example, AscendEX will charge a fee in BTMX for users’ participation in platform promotional activities. BTMX can be consumed by the purchase of various benefit cards, such as Point Card, and other products on the platform such as Volatility Card.

2. Multiple Trading Modes

AscendEX offers multiple mode options across regular trading and margin trading on the different needs of different customer and/or user groups. The mechanism is designed to provide different levels of incentive to meet the requirements of diversified market activities and trading behavior such as market makers vs. takers.

3. Tiered VIP Transaction Fee Structure

Since Oct 2019, there has been a new tiered VIP transaction fee structure in place for both traders and BTMX holders within the AscendEX ecosystem. A 10-tier VIP fee schedule is set based on (i) trailing 30-day trade volume (across both asset classes) and (ii) trailing 30-day average unlock BTMX holdings.

The enhanced fee structure further evolves the utility of BTMX, by offering token holders attractive marketplace advantages on transaction fee.

All latest details on Tiered VIP transaction fee schedule can be found: 

https://ascendex.com/en/feerate/transactionfee-traderate

    4.Token Consumption

 a. BTMX token holders can consume a certain amount of BTMX for additional benefits such as           membership upgrade related to transaction fee, interest on margin loan, airdrop, token release, etc.

 b.The total supply of BTMX will continue to decrease as the amount of BTMX consumed increases.