Key Highlights:
- Burned MX Tokens: In Q3 2024, a total of 2,480,000 MX tokens were burned.
- Burn Address: The transaction details can be verified on Etherscan.
MEXC is thrilled to share the latest update regarding our ongoing commitment to enhancing the value and utility of the MX Token. In line with the community’s decision on the MX Token 2.0 Proposals, we have successfully completed the MX burn for Q3 2024.
Information on MEXC’s 2024 Q3 MX Burn
Total MX burned in Q3 2024: 2,480,000 MX Tokens
Etherscan address for MX burn: MX Token Burn Transaction
Total Amount of MX Destroyed: 578,218,166 MX Tokens
With this latest burn, the total amount of MX tokens permanently removed from circulation has reached 578,218,166 MX Tokens. Given the maximum supply of 1,000,000,000 MX tokens, 57.82% (578,218,166 MX) has already been destroyed. This substantial reduction underscores MEXC’s commitment to enhancing the token’s scarcity and market value.
Additionally, MEXC has successfully maintained a market circulation of less than 100,000,000 MX tokens. This careful management ensures that the remaining tokens retain their scarcity and value, benefiting all MX Token holders.
Current Locked Quantity: The current quantity of locked MX tokens stands at 326,562,500. These tokens are allocated as follows:
- MEXC Labs: 45.94% (150,000,000 MX) is reserved for MEXC Labs to support innovative studies and projects within the ecosystem.
- MEXC Partnership: 30.62% (100,000,000 MX) is designated for MEXC Partnership, fostering collaborations and strategic alliances.
- MEXC Team: 23.44% (76,562,500 MX) is locked for the MEXC Team, ensuring smooth operations and the provision of high-quality services across the platform.
The structured allocation of locked tokens is vital to the continuous growth and stability of the MEXC ecosystem. By strategically reserving tokens for innovation, partnerships, and team operations, MEXC aims to drive long-term success and sustainability.
Understanding MEXC’s Buy-Back and Burn Program
MEXC’s buy-back and burn program is a cornerstone of our strategic initiative. It aims to ensure the longevity and stability of the MX Token. This program demonstrates our unwavering commitment to supporting the MX Token’s value and utility by systematically reducing its circulating supply. By dedicating 40% of MEXC’s platform profit each quarter to repurchasing and burning MX tokens from the market, we actively work to decrease the overall token supply. Our primary objective with this initiative is to maintain the circulating supply of MX Token at 100 million, thereby enhancing its scarcity and value.
This reduction in supply is intended to create a positive feedback loop. As the number of available tokens decreases, each remaining token becomes more valuable. This scarcity effect can increase demand and support the token’s price, benefiting all MX Token holders. Additionally, the buy-back and burn program reflects our proactive approach to market dynamics, ensuring that the MX Token remains a robust and attractive asset within the cryptocurrency ecosystem.
Why Does Buy-Back And Burn Matters
The buy-back and burn strategy is a testament to MEXC’s dedication to its community and the long-term growth of the MX Token. By reducing the total supply, we aim to increase the token’s value, benefiting all MX Token holders. This initiative not only demonstrates our commitment to the project but also aligns with our goal of creating a robust and sustainable ecosystem for our users.
What Should You Do After the MX Burn Q3?
With the Q3 2024 MX burn completed, now is an ideal time to explore MEXC’s range of offerings that enhance the MX token experience and maximize its benefits. Here are some ways you can get involved:
- Buy MX Tokens to Join the Ecosystem: With the recent burn reducing the total supply, MX token scarcity has increased. Buying MX tokens now allows you to enter the MEXC ecosystem with an asset designed to grow in value and utility. By holding MX, you unlock access to exclusive rewards and discounts that can enhance your trading journey on MEXC.
- Take Advantage of Airdrops and Rewards: MEXC frequently offers airdrops, specifically for MX token holders. By holding or accumulating MX Tokens, you can qualify for early access to promising new tokens launched through MEXC’s Launchpool and Kickstarter programs. These airdrops are free opportunities to expand your portfolio with minimal effort.
- Engage in MX Trading: Whether you’re new to crypto or a seasoned trader, trading MX Tokens on MEXC lets you experience the platform’s powerful tools and competitive fees. MX trading pairs offer liquidity and flexibility, allowing you to trade easily and take advantage of market trends.
Advantages of Holding MX Tokens
Holding MX Tokens provides a range of unique benefits within the MEXC ecosystem. From trading fee discounts to airdrop eligibility, MX holders enjoy exclusive advantages that enhance their trading experience. Key benefits include:
- Trading Fee Discounts: MX holders receive up to 50% discounts on trading fees, making transactions more cost-effective. Explore MEXC’s amazing trading fees!
- Exclusive Airdrop Access: As an MX holder, you can gain early access to new project airdrops on MEXC, specifically from MEXC Launchpool and Kickstarter. Find out how you can gain up to 50 free airdrops every week at MEXC!
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.
Why Should MEXC Be Your No. 1 Crypto Exchange?
MEXC provides huge advantages to users. Here’s why MEXC is your no. 1 crypto exchange:
- Rapid Launches: MEXC’s streamlined processes enable quick listings. This ensures that users have access to the latest tokens and meme coins as soon as they become available.
- Diverse Selection: MEXC features a wide variety of coins, appealing to diverse trader preferences. From tokens like SUNWUKONG (SUNWUKONG_USDT) to GRASS (GRASS_USDT), MEXC offers numerous options for traders looking to diversify their portfolios.
- Lowest Fees in the Market: MEXC has consistently positioned itself as one of the most cost-effective trading platforms in the crypto industry. With fees as low as 0.02%, it ensures that traders retain a larger portion of their profits.
- Up to 100x Leverage: MEXC offers up to 100x leverage on certain coins. This allows users to amplify their positions and potentially see much larger returns with a relatively small amount of capital.
However, it’s important to note that leverage also increases risk. Therefore, it is a tool best suited for more experienced traders who understand the volatility of the meme coin market.
- High-Level Security: The platform uses advanced security protocols, including multi-signature wallets and cold storage, to safeguard user funds. In addition, the exchange undergoes regular security audits to ensure the integrity of its infrastructure.
The Path Ahead for MX Token Holders
MEXC remains committed to advancing the MX Token’s value through strategic initiatives like buy-backs and burns, partnerships, and community involvement. For traders, the MX Token represents more than an asset; it’s a gateway to exclusive benefits and an ever-evolving ecosystem.
Join MEXC and Start Trading Today!
