Bitmax Token (BTMX) Staking - All information about Bitmax Token staking - DropsEarn
Bitmax Token

Bitmax Token (BTMX)

BitMax Token is a native token of BitMax exchange. BTMX is a non-refundable functional utility token which will be used as the unit of exchange between participants on BitMax. The goal of introducing BTMX is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on BitMax. BTMX does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, the Distributor its affiliates, or any other company, enterprise or undertaking, nor will BTMX entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. BTMX may only be utilised on BitMax, and ownership of BTMX carries no rights, express or implied, other than the right to use BTMX as a means to enable usage of and interaction within BitMax. BTMX would also function as the economic incentive to incentivise users to participate in the BitMax ecosystem. Users of BitMax and/or holders of BTMX. which did not actively participate will not receive any BTMX incentives

  • Reward: 21.24%
  • Adjusted Reward: 21.24%
  • Compound Reward: 19.27%
  • Adjusted Compound Reward: 19.27%
  • Inflation: 42.59%
  • Lock-Up Period: 1 day
  • Total Staked: 71.45%
  • Price: $1.26
  • Market Cap: $744,236,607
  • Rank: #115

About BTMX

BTMX is BitMax (now AscendEX) native coin. It can be staked on AscendEX website (former Bitmax) or in AscendEX App.

AscendEX’s innovative staking product allows users to participate in staking and earn rewards directly on the platform. AscendEX aggregates users’ staking interest and delegates assets to trusted validators on their behalf. Simply click the “Delegate” button, and users will begin earning staking rewards.

Key Features of AscendEX Staking Service:

  1. Unstake anytime to trade or transfer without delay via "Instant Unbonding;"
  2. Trade while earning rewards by using staked assets as margin collateral;
  3. Maximized returns through automated redelegation of rewards under "Compound Mode."

How to stake BTMX

How to Participate in AscendEX Staking

1. Visit AscendEX.com – [Homepage] – [Investment Product] – [Staking].

2. On the Staking page, there is a list of projects available for staking service. You can select or search one to participate in.

3. For example, if you want to participate in BTMX Staking, click on [View].

4. On the BTMX Staking page, you can click on [Delegate Now] to directly stake the token. Or if you currently don't hold any BTMX tokens, click on [Buy BTMX] to purchase some on the Cash Trading page. Skip the next step if you already have BTMX tokens in your account.

5. On the BTMX/USDT cash trading page, you can purchase BTMX tokens by placing a Limit Order or Market order.

  1. Click on Limit/Market.
  2. Enter a price (not applicable for market orders) and size.
  3. Click on [Buy BOND].

Go back to the BTMX Staking page and click on [Delegate Now] to continue staking.

6. You can also stake the token via [My Asset] – [ Cash Account] – [BTMX] – [Delegate].  

7. Complete setup in the delegation pop-up window:

  1. Activate [Compound Mode] to enable auto-redelegation of staking rewards and compound your return. You can choose to activate or deactivate [Compound Mode] at your discretion.
  2. Enter a delegation amount. Please note that there is a minimum delegation amount for each supported token. The delegation amount must be higher or equal to the minimum amount.
  3. Read and then check the AscendEX Staking Agreement box and click on [Confirm] to complete delegation.

Note: Introduced by AscendEX, "Compound Mode" is an innovative feature that automatically redelegates the user's staking reward once it is distributed, thus compounding the returns.

8. After the delegation is completed, a ticker ending with a "-S" will appear on [My Asset]-[Investment Account] page to represent the staked asset. 

Note: Users can unstake any time after delegation. For further details, please refer to How to Unstake and Stop Staking.

How to participate in AscendEX Staking (App)

1. Open AscendEX App and then click on [Staking].

2. On the [All Staking] page, you can either search the token you want to stake or find it in the list below. 

3. On the BTMX Staking page:

  1. Activate [Compound Mode] to enable auto-redelegation of staking rewards for maximized return. You can choose to activate or deactivate [Compound Mode] at your discretion.
  2. Enter a delegation amount. Please note that there is a minimum delegation amount for each supported token. The delegation amount must be higher or equal to the minimum amount.
  3. If you currently don't hold any BTMX tokens, click on [Buy BTMX] to purchase some on the Cash Trading page. Skip the next step if you already have BTMX tokens in your account.

Note: Introduced by AscendEX, "Compound Mode" is an innovative feature that automatically redelegates the user's staking reward once it is distributed, thus compounding the returns.

4. On the BTMX/USDT cash trading page, you can purchase SWINGBY tokens by placing a Limit Order or Market order.

  1. Click on Limit/Market.
  2. Enter a price (not applicable for market orders) and size.
  3. Click on [Buy BTMX].

5. Go back to the BTMX Staking page and click on [Delegate Now] to continue staking.

6. Enter a delegation amount, check the AscendEX Staking Agreement box and click on [Delegate Now] to complete.

7. Staking details can be viewed under [My Staking].

Note: Users can unstake any time after delegation. For further details, please refer to How to Unstake and Stop Staking [App].

Read more: AscendEX staking FAQ