BitMEX, the world's leading crypto derivatives exchange, has launched a new social trading concept for professional traders called Guilds. Currently in beta testing, Guilds allows BitMEX users to form groups and trade competitively as a collective, with the objective of outperforming other Guilds and claiming a share of the weekly prize pool.

Each Guild is led by a leader who customizes and defines its identity, and other users can join and converse in a dedicated private chat room. The beta launch has attracted over 230 testers, with traders earning nearly $330,000 in PnL last week.