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Bitmex started as a innovative exchange that allowed ppl to deposit btc and speculate on btcusd price with high leverage and good ux. Meaning you made more btc :) or lost btc. It was very popular AFAIK. It was also no kyc. But things have changed a bit :) today we take for granted the perpetual contract they pioneered and every exchange has one it seems and also allow to use btc as collateral. But once upon a time bitmex was the first and only ones that did that :p