BitMEX announces closure, causing BMEX to plummet 95%, Bubblemaps says 75% of token distribution is not circulating on chain

BubbleMaps stated that after BitMEX announced its closure, BMEX prices fell by 95%. 75% of the tokens in the BitMEX token economy model were originally planned for employee incentives, ecological development, and long-term reserves, but these tokens were never distributed on the chain. In 2021, approximately 92% of BMEX supply was locked in ownership contracts, with the remaining 8% allocated upon token launch, of which 5% was used for airdrops and 3% for product and liquidity support. Each allocation category corresponds to an independent address for receiving future unlocking tokens.