What is MX Token?
MX Token (MX – Trade it here) is a decentralized digital asset developed by MEXC Global. MX is based on Ethereum Blockchain, it works as proof of the interests of the MEXC community. As the only token in MEXC Exchange ecological system, the MX token plays an important role in connecting MX users, communities, project teams and partners.
Since its introduction in 2018, MEXC is committed to enabling MX Token from the value aspect including fee deduction and various MEXC products participation rights. MEXC also started the “Growth Plan for Everything”, by becoming the first cross-chain asset of BSC and HECO, and opening multiple operations such as on-chain lending, mining, and DEX trading. This is done to improve MX token economy and increase usage scenarios.
Amazing return of MX Token
The amount of MX transactions are continuing to grow, with more than $300 million in trading volume in November 2021. Millions of MEXC users use MX for trading, paying transaction fees, and earning passive income with their MX holdings.
MX 2.0 Proposal
Nowadays, the exchange tokens have played a significant role in the development of the Blockchain Industry, such as attracting talents, establishing the ecosystem, and constructing the infrastructure for the blockchain, and building strategic partnerships, etc.
For the interest of the MX community, introducing talents, and supporting the evolution of the MEXC ecosystem, MX 2.0 is introduced. Rather than granting the MX Token to the team, MEXC will utilize those tokens to give more benefits to MXers and to continue to accelerate MEXC’s growth.
The initial total supply of MX is 1 billion tokens. For November 2021, 550 million tokens were destroyed. After the 2.0 proposal is approved, MEXC will redistribute tokens for MEXC ecosystem growth purposes:
- MEXC Global Foundation Reserve — 100 million tokens
- MEXC Labs — 150 million tokens
- MEXC strategic partners — 100 million tokens
- 100 million tokens will be burned immediately.
Starting from January 2022, 40% of the entire profit of the MEXC platform will be allocated to the repurchase and burning of MX from the secondary market on a quarterly basis.
MX holders are entitled to a number of benefits at MEXC :
Started as a simple utility token created to pay for transaction fees on MEXC, MX token has increasingly evolved to become a cornerstone for MEXC. MX helps MEXC team to drive its fast growth and global expansion. MXers can use your MX tokens in multiple product offerings on MEXC:
- MEXC Launchpad – MEXC’s token sale platform provides users worldwide with an exclusive opportunity to invest in high-quality projects.
- MEXC Kickstarter – a launch event activity at the pre-launch stage of a project in which the project initiates voting for the launch on MEXC, and then airdrops its tokens for free to all successful voting use. It only accepts MX in the vote and the winning project will provide free airdrops to MEXC users.
- MEXC M-Day – an event that allows users to purchase a newly launched token through a lottery drawing. Through the trading round and MX holding round, users participate in token sales after acquiring a ticket from the M-Day event.
- MEXC MX-Defi – staking opportunity for users to stake MX/Project Tokens to receive more tokens as the yield.
- MEXC Voting – vote for MEXC users’ favorite tokens to be transferred into the Innovation Zone and get rewards.
- MEXC PoS Pool – simple and easy way for users to stake their tokens to receive additional tokens.
MX Driving MEXC
MX will carry on to drive the expansion of the MEXC, with MX being used for trading and transaction fees, and MEXC continues to work with more fiat partners to provide more easy methods for users from different countries and areas to access MX. MXers will continue to enjoy the significant benefit by holding or using MX in more future products on MEXC.
MEXC aims to build a primary one-stop service platform for the leading crypto assets, from early-stage funding, technical solution to the ultimate liquidity offering, etc. Projects at different stages can find the supporting programs or product offerings accordingly for their launch or growth. Through each case, MX will be largely applied and realized its utility, and draw the most value to MX token holders.
For the continued growth and evolution, MEXC will further build its ecosystem and expand into more products and markets to be powered by MX: DEX, Wallets, NFT, DAO, etc.
Ready to go next?
Now you know everything that is important about MX Token. Looking for how to start with trading or participate in earning events on MEXC? In the MEXC Academy products section, you can explore both MEXC product descriptions and trading tips. If you are looking for news and industry events, visit MEXC Blog and MEXC TV.
Start your travel on MEXC Global