BitMEX accused Binance of plagiarizing the development of derivatives platform

A message appeared on Twitter of the BitMEX derivatives exchange, in which the Binance exchange is accused of copying part of the documentation related to the futures trading service.

“Congratulations to Binance on launching a futures test network. We are glad you enjoyed reading our documentation. And we’re even more glad that you liked it and you decided to copy it, ” publications.

In particular, we are talking about the description of the auto-de-licensing option and the financing rate, which has a 100 percent match with the corresponding BitMEX documents.

Binance CEO Changpeng Zhao immediately commented on the allegations.

“Shame on us! Excuse me. Did not pay attention to this moment before the acquisition. By the way, we did not read the BitMEX documentation. We’ll fix this gap as soon as possible, ”- wrote he is in the comments on the BitMEX publication.

Based on the words of Zhao, we can conclude that the description of the instruments, which is located on BitMEX, appeared on the new Binance site as a result of the acquisition of the JEX derivatives platform. CZ also added that Binance has prepared its documentation for the futures exchange, which is being developed from scratch.

Read This Now: Bitcoin futures on BitMEX mainly from Europe

On Monday, the company announced the start of testing two platforms for trading futures contracts, and also opened a vote among its users for the platform, which in the future will become the official division of Binance under the Binance Futures brand. Voting will last until September 8th. Users who choose a winner will receive a 50% discount on commission costs for 1 month.

Some participants in the discussion under the post BitMEX noted that during the development of its platform, it could also be inspired by the ideas of competitors. We are talking about the tools of the OKCoin exchange, which were created even before the foundation of Binance, when Zhao was the technical director of the Chinese exchange.