BitMEX convicted Binance of plagiarizing descriptions of instruments for a futures platform
The largest crypto-derivatives exchange BitMEX this morning drew the attention of its followers on Twitter to the fact that descriptions of some of its trading mechanisms were copied without any changes by Binance.
“Congratulations on the launch of the futures testnet, Binance. We are glad that you enjoyed reading our documentation no less than writing it to us! ” – says BitMEX.
In particular, this applies to descriptions of the auto-deleveraging option and the funding rate that are 100% consistent.
Changpeng Zhao, CEO of Binance, commented on the situation: “Shame on us! I apologize. We missed this point in the DD process before the acquisition (we did not read the BitMEX documentation ourselves). We will correct ourselves as soon as possible “.
According to Zhao, the descriptions of BitMEX on Binance migrated alongside the crypto-derivatives platform JEX, which Binance announced it had acquired last week. He also revealed that Binance has prepared its documentation for a futures exchange, which it is developing from scratch. Earlier, Binance opened voting among its users for the platform, which would later become the official division of Binance under the Binance Futures brand..
Some of the panellists, meanwhile, point out that BitMEX, when developing its platform, could also be inspired by ideas from third-party companies. In particular, we are talking about the tools of the OKCoin exchange, which were created by it during the time when Zhao worked as its CTO before the founding of Binance..
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