When BitMax.io introduced its incentives program it gave its members a whole new way to collaborate and engage with not just BitMax but with each other. According to recent changes, if you refer someone to participate you will earn 10% of the entire BTMX the person you invited mines.
This program was drafted to complement 'trans-fee' mining. A proven mode where members are 'compensated' in full. So in lieu of charging user’s high fees as is common among competing companies, BitMax.io will charge fees and deposit an equal valued amount of BTMX into its member's accounts.
Another model I’d love to highlight is BitMax.io's reverse mining. A concept so unique a simple search on Google will yield only results regarding BitMax. BitMax.io was the 1st crypto-exchange to introduce what i refer to as maker-based mining as a means of differentiation for liquidity makers from takers.
So, what does it mean exactly?
According to the company's official news channel, this model lets members get commissions every time they execute maker trades. If the cost of a transaction is 4 Ethereum, users would be entitled to zero fees, but he or she would receive their paid fee, in this case 4 Ethereum as a rebate, but only after an equal amount of BTMX has been deducted from their account. That's a pretty long explanation, but just in case you didn't understand it completely, imagine trans-fee but backward, where traders or institutions are rewarded every time, they initiate a maker order. The best part is - there will practically be no wait time, all these processes will happen in real-time.
One important thing to note is that all the tokens that are deducted from the member accounts will be placed on permanent lock-up, this works to decrease circulation and ultimately help prevent the flooding of the market with too much tokens.
But what are the advantages?
Reverse-Mining will play a huge role in maintaining a fair and equal market for every user. See when it comes to crypto-exchanges, individual markets always run the risk that users with more resources flooding the market thus tilting it to their favor, because Maker-trade based Mining will regulate the amount of BTMX in circulation, BitMax.io will be much less likely to become volatile. BitMax's policy of compulsory lock-up of huge-sell orders which is meant to enhance a good equilibrium of trading activities within BitMax will also help enforce this.
Speaking of what's good, because of the number of options, members have more opportunities to participate thus promoting liquidity. Members also have a chance for better returns especially if they hold on to their BTMX and return them to BitMax later for a more premium price.
Don’t worry though.
Even if these two models aren't your cup of tea, you still have the option of participating in regular trading all while enjoying the tall list of accepted pairs.Conclusion.
Participating in the next third generation crypto-exchange platform is easy. Just study the resources linked below and join.
BitMax's Telegram
Official Whitepaper
BitMax's Website
BitMax's Announcement Channel
Thank you for reading.
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Rhinoboy11
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