Data: Approximately 75% of BMEX tokens have never been claimed or circulated, with only 8% allocated at listing.

BlockBeats News, July 24th - On-chain visualization analysis platform Bubblemaps pointed out that after BitMEX announced the official closure of its operations in September, its platform token BMEX plummeted by about 95% today. However, according to the 2021 tokenomics, 92% of BMEX is locked in ownership contracts, with only 8% allocated at listing—5% for airdrops and 3% for product and liquidity purposes.

On-chain data shows that the only withdrawal occurred on November 2, 2022, when the product and liquidity address withdrew 63.75 million BMEX tokens. Approximately 75% of the tokens originally earmarked for employee incentives, ecosystem growth, and long-term reserves were never withdrawn and never entered circulation.

Bubblemaps added that this may not necessarily be misconduct, but based on the publicly disclosed distribution plan, these large proportion shares indeed never materialized.

BlockBeats previously reported that it is worth noting that the official response to the BMEX token by BitMEX is very limited, with no additional compensation or special arrangements. The only action explicitly mentioned in today's BitMEX official shutdown announcement is that the platform has immediately unstaked all staked BMEX tokens, directly returning them to the holders' accounts. According to a previous BitMEX announcement, BMEX is a purely platform utility token and not an equity, debt, or asset with a promised return. The official disclaimer states: BMEX is only used to enjoy fee discounts, staking rewards, and other functions on the BitMEX platform, does not constitute an investment, and does not bear any refund or redemption responsibility.