Guilds has now entered βeta, a testing period in which we’re giving traders – new, existing and/or returning – the chance to not just win their share in the Guild Pot, our weekly prize pool, but share their input on what they’d like to see from our new take on social trading.
Currently, 14 Guilds are competing to win the 4,000 BMEX Tokens in the pot. Come Sunday 9 July, the Guild Pot will double in size to 8,000 BMEX. A cash prize to be awarded to the top three Guilds on the leaderboard.
If you think you’re good enough for Guilds, and know some fellow traders you’d like to partner to form a Guild with, read on.
Currently, we’re offering 10,000 BMEX to new users of our platform – sign up here.
What is Guilds?
Trading can often feel like a one-way, linear experience – the arrival of Guilds changes that. It’s the social trading you might already know (but better). It brings together the collaboration of community trading, with the functionality of multi-accounts – allowing traders to combine their BitMEX accounts with those of other users.
Within Guilds, traders can customise and define their visual identity, connect with other members of the same Guild via an internal Guild chat, and collaborate to conquer the weekly BitMEX leaderboard, all while reaping rewards.
The result? A chance for BitMEX users to trade competitively against others, share strategies with fellow members of their Guild, and work towards winning their share of the Guild Pot – a weekly prize pool available to the top three performing Guilds of the week.
When it comes to the Guild Pot, it is the leader of the Guild who chooses how to distribute the rewards amongst members. Guild leaders can choose to save the Guild Pot for reinvestment or, select a percentage they would like to allocate to members versus keep for themselves.
The leader could distribute the rewards as follows:
- Equally distributed to the top three traders of the Guild.
- 10% of the total Guild Pot distributed to the top 10 traders in the Guild.
- Given all to one Guild member (randomly selected by an algorithm).
Alternatively, no payout might occur, with the cash reward saved for the following competition.
More developments will continue to arrive as our community test Guilds, and it evolves in line with their wants and needs.
See the Guilds Leaderboard and those who’ve already started their Guild.
How Does Guilds Work?
During the βeta phase, each Guild requires one leader and can host up to 49 members AKA BitMEX traders.
Any verified user can be a Guild member. They can join an existing Guild on the leaderboard here.
Guild leaders must have at least 100,000 BMEX staked. Then they’ll be ready to manage the name, visual identity, and participants of their Guild – including the distribution of the Guild Pot. Those seeking to learn more about starting their own Guild, can visit the leader FAQ here.
Guilds are ranked weekly on the leaderboard through their realised PnL, which determines the top three performing teams eligible for the Guild Pot prize. For full details on the leaderboard and Guild Pot, click here.
Want to know even more about Guilds? We have a dedicated FAQ page for Guilds here.
To compete in the next competition and join Guilds – we invite you to sign up now via the Guilds page.
In the meantime, if you have any questions please contact Support.