The MX Token burn for Q4 2023 has been successfully executed! We are pleased to announce that a total of 3,235,001.5 MX Tokens have been permanently removed from circulation.
Information on MEXC’s Q4 MX Burn
- Total MX burned in Q4 2023: 3,235,001.5 MX Tokens
- Etherscan address for MX burn: MX Token Burn Transaction
- Total Amount of MX Destroyed: 571,353,466 MX Tokens
Recap on the MX Token 2.0 Proposal
The MX Token 2.0 Proposal, implemented in January 2022, introduces a groundbreaking “Buy-Back and Burn” program. Every quarter, MEXC will allocate 40% of the platform’s profit to repurchase and burn MX tokens. It aims to maintain a stable circulating supply of 100 million MX Tokens.
Within the total supply of 450 million MX Tokens, 100 million MX Tokens are reserved for the Foundation Reserve. This reserve does not only serve as an incentive mechanism for the MEXC team. It also follows a vesting schedule with quarterly releases, ensuring alignment with long-term objectives. Meanwhile, another 150 million MX Tokens have been allocated to establish MEXC Labs to nurture the overall growth of the MEXC ecosystem.
MEXC also distributed 100 million MX Tokens among top-tier global strategic partners, with their selection facilitated through community voting. This democratic process ensures community participation in shaping the strategic partnerships that contribute to the MX ecosystem’s expansion.
To further enhance tokenomics and create scarcity, an additional 100 million MX Tokens were permanently burned. This reduction in the overall token supply will be achieved by transferring these tokens to a “black hole” address, contributing to the deflationary nature of the MX Token.
Benefits of Holding MX Tokens in 2024
Trading Fee Discounts
Holding MX tokens now offers traders up to a 50% discount on spot and futures trading fees! This makes transactions more cost-effective while encouraging the exploration of diverse trading options on the platform. Users can enjoy a 50% discount by holding 1,000 MX tokens or more for 15 consecutive days. Alternatively, you can enable MX deduction to receive a 20% discount on spot trading fees and 10% on futures trading fees. Learn more at MEXC Trading Fees!
Receive Free Airdrops Weekly
MX token holders can also enjoy 30+ free airdrops every week! After holding 1,000 MX tokens for 30 consecutive days, you can head on to MEXC Launchpad and MEXC Kickstarter. Commit MX at non-lockup events, and receive more than 120 free airdrops every month! Explore them at MX Zone now!
How to buy MX Token (MX)
- Visit and log in to the official MEXC website, hover the cursor over [Spot] at the top of the page, and select [Spot].
- Type “MX” into the search bar on the right, and find the MX/USDT trading pair.
- Below the K-line chart, enter the amount and the price at which you want to buy MX.
- Click on [Buy MX] to complete the purchase and wait for the order to be executed on the market.
You can find a detailed guide on how to buy MX tokens here.
Here is a simple guide to Join MEXC Launchpad and Kickstarter
- Purchase and hold MX Tokens in your spot wallet (Buy now!)
- Hold at least 1,000 MX Tokens in your spot wallet for 30 consecutive days.
- Once 30 days have passed, you can commit the MX Tokens to a Non-lockup Event.
- Click on the Quick Commit Button to join all events simultaneously.
- After the event ends, the system will first divide the total prize pool.
- Then, it will distribute the airdrops based on the user’s proportion of valid commitment.
- The more MX Tokens you commit, the more airdrops you receive!
- After the airdrop reward distribution, head on to the (Reward History Page) to learn of the airdrop details!
Quite a simple process right? What are you waiting for? Join now at MX Zone!
Start your travel on MEXC