Our new affiliate programme (the Affiliate Programme) introduces a new way to remunerate our affiliates (Affiliates), broadening the reward structure so it’s not just based solely on value of notional trades.

Similar to our Refer-a-Friend Programme (see https://www.bitmex.com/refer-a-friend), users who have received and joined BitMEX with a valid Affiliate link provided under this Affiliate Programme will receive a 10% fee discount for six months. Once referred to the site, if a user completes registration within 30 days, the Affiliate receives commissions (Commissions) based on the total revenue generated by such user on the terms below and per the terms the Affiliate will be required to sign up to with the Impact platform, which will be the platform used by Affiliates when taking part in this Affiliate Programme.

The new scheme includes the following: a) new Commission structure b) opportunity for Affiliates to qualify for a higher tier if they have the necessary traffic, or n. of followers required (Community bonus); c) an automatic quarterly review that will assess whether the requirements to retain an Affiliate’s Commission level are met; d) no more perpetual payouts for passive Affiliates;

New Commission Structure

*Since the payout is in USD, the percentage indicated is approximate and subject to exchange rate fluctuations and conversion methodology - BitMEX reserves the right to adjust calculation methods at its sole discretion.

**For a trader to be included in this calculation, they must have signed up using the Affiliate’s affiliate link, have completed BitMEX user verification, and completed a successful trade

***The 3 months period starts from the date when you are accepted as a member of the Affiliate Programme, and each subsequent 3 month period is based from such a starting date.

****For trading in products that are not XBT notional, the XBT value shall be calculated by reference to the applicable BitMEX XBT index set out here.

Community Bonus

When Affiliates register through Impact, Impact will make use of external software technologies (e.g.Alexa) to determine the number of visitors or followers that affiliates have. That will be the number we’ll use to assign the Community Bonus for the first 3 months. For example, Paul has a Crypto Blog with 51,000 visitors per month. Paul is automatically assigned to a 35% Commission. Nonetheless, that’s valid ONLY FOR THE FIRST THREE MONTHS when he’s accepted to join the BitMEX Affiliate Programme. To retain his 35% Commission, he will have to either bring >100 new traders who have completed the BitMEX user verification process in the first three months he joined or bring enough traders to generate >15,000 Bitcoin Notional Traded Volume in that same period. It’s either/or.

Quarterly Review

At the end of each calendar quarter starting from the date an Affiliate is accepted into the Affiliate Programme, an automatic review of the Affiliate’s performance will be run by Impact and BitMEX. Going back to Paul’s example, let’s imagine that at the end of his first quarter, he didn’t deliver either the >100 new traders or >15,000 Bitcoin Notional Traded Volume from his referees; he will be assigned a new Commission tier accordingly. If Pauls fails to bring at least one new trader per quarter, he will stop receiving Commission payments until a new trader is generated. Once a new trader is generated, regardless of the previous Commission tier that Paul was on, he will revert to the lowest level of 25% for the remainder of that 3 month period, and will only increase to higher levels for the next 3 month period if he satisfies the relevant thresholds set out above.

How to Maintain Your Commission Level

As mentioned previously, those Affiliates who do not bring at least one new trader per quarter will have their Commission payments put on hold until a new trader is registered. Once new trader(s) are registered, Affiliates will be able to resume Commission payments starting at 25% for new sign ups for the remainder of that 3 month period. The reason for this is that we want Affiliates to be active and to continuously support broadening BitMEX’s user base.

Please note that Commissions shall only be paid on volume from traders who are themselves not subject to any reduced fee rates based on trading volume (see https://www.bitmex.com/app/fees for example). Where such traders have reduced fee rates arising from holding BMEX tokens or any other promotion around discounted trading fees, the Commissions shall be calculated by reference to the lower fee rate enjoyed by such traders. The Commissions will be based solely on the trading of our perpetual, futures and quanto futures products. These terms are subject to change and are subject to a binding agreement with BitMEX that Affiliates will need to agree to as part of onboarding with the Impact platform, which will be the platform used by Affiliates when taking part in this Affiliate Programme and which will be where Affiliates will see their monthly Commission revenue available to view on or around the 15th of the following month, and payments will be processed by Impact approximately 14 days later.