BitMart Weekly Report [01/27/2020–02/02/2020]

2 min readFeb 3, 2020

Global Achievement:

[bitmart.com] has reached the global website ranking of 37,319th last week among all websites.

Design futures contract.
Prepared the launch of BitMart Lending Phase 4. A total of three phases of BitMart Lending have been successfully launched since early January in 2020. In the previous phases, multiple 7-day, 15-day, and 30-day basic and premium financial products with an annualized interest rate up to 40% were provided. Some products with relatively short lock-up periods have been mature with both principal and interest distributed to users’ accounts. In the coming BitMart Lending Phase 4, both basic and premium financial products with multiple tokens and flexible lock-up periods will be provided. Stay tuned!
BitMart is introducing the BitMart Community Partner Plan, aiming to enhance communication with BitMart users and better build BitMart ecosystem and community. With BitMart Community Partner Plan, the qualified BitMart community partners will receive a series of benefits, including the official “BitMart Community Partner” certificate, double commissions return for invitees, 10% commission return for successfully recommended projects, etc. Additionally, there are more benefits such as the invitation to BitMart official roadshows, private cocktail parties, and community meetings. If you have passion and resources, and willing to challenge yourself. Join us! Click here for more details.

As stated the “Repurchase Mechanism” in our white paper, BitMart will use 20% of the income earned from trading fees from December 20th, 2019 to January 19th, 2019 to repurchase and burn 3,729,988.158977453 BMX (approx. 79,076 USD) within 5 business days. The Repurchase Mechanism will continue until 500 million BMX are burnt, thus reducing the total supply of BMX. You will be able to check the burn records via the blockchain browser once complete.