On September 26, MEXC, the world’s leading cryptocurrency trading platform, announced that the number of platform users had surpassed 10 million. At the same time, MEXC also launched a new MX Token fee deduction scheme: users can use MX Token to deduct the fee for futures trading, and can enjoy a 10% discount on spot trading. During the period between 10:00 AM on September 26 and 10:00 AM on October 2 (UTC+8), MEXC will also launch an event where futures traders will be able to share a 20,000 Tether bonus. (USDT).

This is another core application scenario focused on the MX token after the launch of MX_USDT perpetual futures in July. Until now, MX Token can be used to deduct the trading fee of spot, futures and other transactions on the platform, and holders can also participate in various welfare activities such as Launchpad, MX DeFi, M-Day, Kickstarter, etc.

MX Token is proof of rights and interests issued in the MEXC ecosystem. It is a tradable encrypted digital proof of rights and interest and was first launched in 2018 with an initial supply of 1 billion.

On December 31, 2021, after 38 buybacks, MEXC permanently burned a total of 450 million MX Tokens. Meanwhile, according to the MX Token 2.0 proposal, after being voted on by the MX Token community, 100 million MX Tokens were transferred back to the black hole address and burned permanently (these tokens were held by the Reserve of the MEXC Foundation). After the burning, the total supply was reduced to 450 million, 100 million of which circulate in the secondary market.

As of July 31, 2022, through the last buyback and burn, the total supply of MX Tokens has been reduced to 443,857,130 and the circulating supply has been reduced to 93,857,130.

After repeated buybacks, burns, and escalating enforcement scenarios, MX Token rose from a low of approximately 0.119 USDT to a high of 3.7 USDT in the June 2020 to June 2022 bull market, with a maximum gain of 3,009 %.

According to data from CoinGecko and Etherscan, the price of MX Token is 0.98 USDT, its market capitalization is $98 million, and its total supply is 443,857,130.

About MEXC:

MEXC is the world’s leading cryptocurrency trading platform, providing comprehensive cryptocurrency trading services for exchange traded funds, futures, betting, NFT index, etc., serving over 10 million users worldwide . The core team has a strong background in traditional finance and has professional financial product logic and technical security guarantees in terms of cryptocurrency products and services. In October 2021, MEXC Global won “Best Cryptocurrency Exchange in Asia”. Currently, it supports trading of more than 1400 cryptocurrencies and is the trading platform with the fastest launch speed for new projects and the most tradable categories. Visit the website and blog for more information, and follow MEXC Global Y M-Ventures and Labs.

Contact:

Company Name: MEXC
Name: Jenny Sun
Email: [email protected]

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