From slippage compensation to profit sharing, how did BitMart address user pain points to achieve over 100% growth in contracts?

Author: momo, ChainCatcher

The cryptocurrency derivatives market is becoming a key battleground for exchanges to compete for users.

According to Coinglass data, the global cryptocurrency derivatives trading volume is expected to see significant growth in 2024, with the total open interest surpassing historical peaks. Unlike the highly concentrated spot market, the derivatives sector is still in a phase of reshaping, with intensified competition among platforms in product innovation and user experience. Recently, Coinbase acquired Deribit for $2.9 billion, setting a new record for mergers and acquisitions in the crypto industry, further highlighting the strategic value of derivatives business.

Against this backdrop, BitMart has achieved rapid growth through differentiated strategies and iterative user experiences. In 2024, BitMart's contract trading volume achieved a year-on-year growth of 101%, currently ranking 13th in the CoinMarketCap centralized exchange derivatives rankings, gradually narrowing the gap with leading contract platforms.

Notably, BitMart has been active recently. In April this year, BitMart announced a major management reshuffle, with Sheldon Xia promoted to Group President and Nenter Chow appointed as the new CEO.

With the new CEO taking office, BitMart launched a series of contract product incentive programs that attracted community attention. Additionally, BitMart was invited to participate in a dinner with President Trump to discuss trends in the crypto market, and its subsequent developments are worth watching.

BitMart's Journey in Contracts

Sheldon Xia founded BitMart in 2017, and after about nine months of preparation, the BitMart exchange officially launched on March 15, 2018.

After enduring nearly two years of a downturn in the crypto market, BitMart entered a rapid development phase with the arrival of the 2020 DeFi Summer, expanding its platform trading business from spot trading to derivatives such as contract trading, becoming a comprehensive trading platform.

In a public interview, BitMart founder Sheldon Xia recalled that in mid-2021, BitMart's monthly trading volume increased by 100 times compared to 2020. The number of retail traders and app downloads surged, with daily registered users reaching hundreds of thousands and daily downloads exceeding over a hundred thousand, briefly surpassing PayPal and breaking into the top 20 of the Apple Store.

With the arrival of the 2024 crypto bull market, BitMart has entered a new growth phase, with the core growth point of this phase mainly concentrated in derivatives business such as contracts.

According to BitMart's 2024 annual report data, the contract trading volume increased significantly, with a year-on-year growth of over 101%, reaching $2.96 trillion.

The high growth of contracts is inseparable from BitMart's strategic determination and series of iterations in contracts.

In 2024, BitMart launched the contract V2.0 system, which underwent a series of performance updates and improvements compared to the contract V1.0 system, making the contract trading experience more stable and efficient.

BitMart restructured the entire trading chain, significantly enhancing performance and reducing trading latency by at least 50% compared to the contract V1.0 system; the substantial performance improvement also boosted the trading efficiency of liquidity providers, leading to a significant improvement in trading liquidity.

In terms of core matching capabilities, the system improved by 50 times compared to the contract V1.0 system; the speed of order and data queries increased fivefold; additionally, the overall stability of the system showed significant improvement compared to the contract V1.0 system.

According to BitMart, it is expected that the contract V3.0 system will be launched this year to further enhance the contract trading experience.

Recently, BitMart has been active in addressing market demands and pain points related to contract trading. With the new CEO Nenter Chow taking office, BitMart has successively launched three major trader support programs: "Slippage Protection Plan," "Ace Trader Program," and "Community Partner Program."

The Slippage Protection Plan specifically addresses the trading pain points of contract users, providing up to 1000 USDT in slippage compensation for USDT perpetual contract users, reducing market volatility risks.

Additionally, in the Ace Trader Program, BitMart offers professional traders a 50% profit share and exclusive operational support to help them expand their earnings and influence. In the Global Community Program, BitMart opens up to 70% of futures trading commission sharing, providing certification and marketing tools to encourage community co-construction.

BitMart's frequent iterations and support plans in the contract business have also provided momentum for its contract growth.

CoinMarketCap data shows that BitMart's open interest exceeds $6.5 billion, surpassing Gemini and Crypto.com in the CEX derivatives rankings, ranking 13th.

Behind the Over 100% Growth: Starting from User Pain Points

Why has BitMart begun to stand out in the fierce competition of contracts? From the actual contract experience, in addition to strategic ambition, BitMart has consistently focused on addressing users' core pain points in product development and optimization.

1. The "New Frontier" of New Coin Contract Trading

In this cycle, as the wealth effect of mainstream coins diminishes, market hotspots have shifted to long-tail small coins and new coins. BitMart has also seized this market demand, launching new coin contracts at a rapid pace, with over 400 contract trading pairs currently available. This diversity provides users with rich choices, making BitMart a "new frontier" for new coin contract trading.

2. Flexible Risk Management

The high leverage characteristics of contract trading bring high returns but also come with high risks. BitMart helps users effectively manage risks in volatile markets through flexible tools and strategies.

For example, the platform supports leverage options from 1 to 200 times, covering both full margin and isolated margin modes to meet different trading scenario needs. A variety of order types, including limit orders, market orders, planned orders, maker-only orders, and trailing orders, provide users with refined strategy formulation space.

The Slippage Protection Plan launched in May 2025 further optimizes the trading experience, offering up to 1000 USDT compensation for slippage losses caused by insufficient liquidity or technical issues, with new users enjoying a 200% difference refund in the first month. This mechanism significantly reduces slippage risks through advanced liquidity aggregation and real-time price monitoring, enhancing user trust in the platform.

3. Meeting Diverse User Needs

BitMart's contract trading platform is designed to cater to both novice and professional traders.

For novices, a simple and intuitive interface, clear navigation, and strong readability reduce the learning curve. The simulated trading feature allows users to familiarize themselves with the rules in a risk-free environment, while copy trading enables novices to directly replicate professional traders' strategies for a quick start. BitMart Academy provides detailed guidance, further lowering the entry barrier for newcomers.

For professional traders, BitMart offers advanced tools such as contract grid trading, as well as real-time market data, position ratios, long-short ratios, and large order information to support data-driven decision-making. Users can also customize their trading page layout to enhance operational efficiency. These features ensure seamless coverage from novices to high-frequency traders.

4. Smooth Trading with the Shortest Trading Path

Using BitMart, one intuitive feeling is that its UI/UX and corresponding functional design are very smooth, aligning with users' most natural and shortest trading paths during trading processes. For instance, users do not need to frequently switch pages during operations such as recharging, transferring, opening positions, and closing positions; all core functions are accessible with one click, and operational efficiency may surpass that of many leading trading platforms.

Additionally, the technical upgrade of the Futures 2.0 system has increased matching trading speed to 200 times that of the past, with order placement and cancellation speeds increased tenfold, and latency reduced to below 5 milliseconds, allowing both high-frequency traders and ordinary users to enjoy a very smooth experience.

5. Balancing Global and Local Needs

Many cryptocurrency exchanges, in implementing globalization strategies, fail to consider the details of different regions' traders' languages, fiat trading, or internet usage habits, leading to a significant decline in user experience.

However, unlike "one-size-fits-all" exchanges, BitMart supports 90 fiat currencies and 11 languages, ensuring localized experiences in regions such as the EU, Middle East, and Latin America, combining global coverage with customized services.

In addition to continuously optimizing user experience, BitMart also has corresponding strategies for security and incentive issues that users care about.

In terms of security, BitMart has built multiple layers of security defenses by collaborating with Fireblocks and Cobo, employing hybrid wallets, multi-signature technology, and real-time risk control systems, continuously optimizing the cold and hot wallet separation mechanism to enhance fund security.

In community-driven initiatives, BitMart enhances user participation through profit-sharing incentives and a global community partner program. These measures may be important reasons for driving trading volume growth.

Focusing on AI, BitMart's Growth Potential in Contracts

BitMart's development history confirms that adjustments in the core team often become key nodes for its strategic transformation and new growth cycles. After each major adjustment, whether it is the introduction of external capital, restructuring the technical team, or changes in senior management, it injects new vitality and lays the foundation for its leapfrog business development.

For example, in 2020, after significantly adjusting the team structure and attracting talent to core positions, BitMart seized the growth dividend of the DeFi Summer, achieving a hundredfold growth in 2021.

With the new CEO's appointment and strategic adjustments in 2025, whether BitMart will usher in a new round of rapid growth is worth watching.

Firstly, Nenter Chow's appointment highlights BitMart's further ambitions for scaling and globalization. As a former partner at Animoca Ventures, Nenter Chow has also worked in investment banking at traditional financial giants such as JPMorgan and MUFG, possessing a composite background in traditional finance and crypto finance, as well as cross-border experience in Eastern and Western markets.

As contracts are the core growth point in this cycle, they are undoubtedly an important expansion direction in BitMart's strategy. The introduction of plans such as slippage compensation for contract trading after the new CEO's appointment is a clear indication.

Currently, the demand for contracts in the market continues to grow, and BitMart is expected to further capture market share with a robust and user-friendly contract experience.

In addition to contracts, BitMart CEO Nenter Chow also revealed some noteworthy strategic directions for the platform in a recent public interview.

Technologically, BitMart will explore using AI to enhance user trading experiences, planning to launch AI-driven smart analytics, automated trading tools, and personalized investment strategies in 2025.

The introduction of AI tools will attract more novices and professional traders, lowering operational barriers while improving trading precision, potentially giving BitMart a differentiated advantage in the fiercely competitive contract market.

In terms of community expansion, BitMart will focus on emerging markets with high potential in the Middle East and North Africa and Latin America through localized strategies, in addition to deepening its presence in Asian and Western markets.

In compliance, since the crypto market entered a stringent regulatory period in 2022, BitMart has strengthened its risk control and compliance capabilities by bringing in core talent from traditional finance and leading exchanges to meet regulatory requirements across different jurisdictions.

Overall, BitMart's rise is not only a combination of technology and user demand but also a successful case of exchanges challenging industry giants. By continuously investing in AI, security, and community ecology, BitMart is expected to further consolidate its position in the global contract market in 2025 and beyond, becoming a bridge connecting traditional finance and Web3.

Risk Warning:

The information provided is for reference only and should not be considered as advice to buy, sell, or hold any financial assets. All information is provided in good faith. However, we make no express or implied representations or warranties regarding the accuracy, adequacy, effectiveness, reliability, availability, or completeness of such information.

All cryptocurrency investments (including returns) are inherently highly speculative and carry significant risk of loss. Past performance, hypothetical results, or simulated data do not necessarily represent future results. The value of digital currencies may rise or fall, and buying, selling, holding, or trading digital currencies may involve significant risks. Before trading or holding digital currencies, you should carefully assess whether it is suitable for you based on your investment objectives, financial situation, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.