On Sept. 26, MEXC, the sector’s leading cryptocurrency trading platform, announced that the selection of platform users had surpassed 10 million. At the same time, MEXC also launched a new MX Token fee deduction plot: Customers can spend the MX Token to deduct the fee for futures trading and can be pleased a 10% slash rate on status trading. At some point of the duration from 10: 00 on Sept. 26 to 10: 00 on Oct. 2 (UTC+8), MEXC will also launch an occasion where futures traders can share a 20,000-Tether (USDT) bonus.
This is another core application scenario centered around the MX Token after the launch of the MX_USDT perpetual futures in July. So far, MX Token can be used to deduct the trading fee of status, futures and assorted trades on the platform, and holders can also participate in various welfare activities such as Launchpad, MX DeFi, M-Day, Kickstarter and so on.
MX Token is proof of rights and interests issued within the MEXC ecosystem. It is a tradable encrypted digital proof of rights and interests and was first launched in 2018 with an initial provide of 1 billion.
On Dec. 31, 2021, after 38 repurchases, MEXC permanently burned a total of 450 million MX Tokens. Meanwhile, according to the MX Token 2.0 proposal, after being voted by the MX Token neighborhood, 100 million MX Tokens have been transferred to the black hole address again and permanently burned (these tokens had been held by MEXC Foundation Reserve). After the burn, the total provide dropped to 450 million, 100 million of which are circulating on the secondary market.
As of July 31, 2022, via the latest repurchase and burn, the total provide of MX Tokens has reduced to 443,857,130, and the circulating provide has dropped to 93,857,130.
After repeated repurchases, burns and increasing application scenarios, the MX Token rose from a low of about 0.119 USDT to the peak of three.7 USDT within the bull market from June 2020 to June 2022, with a maximum gain of three,009%.
According to CoinGecko and Etherscan data, the associated fee of MX Token is 0.98 USDT, its market cap is $98 million, and its total provide is 443,857,130.
About MEXC：MEXC is the sector’s leading cryptocurrency trading platform, providing one-pause cryptocurrency trading products and companies for status, exchange-traded funds, futures, staking, NFT Index, and so on. ,and serving more than 10 million users worldwide. The core team has a solid background in traditional finance and has professional financial product good judgment and technical security guarantees by way of cryptocurrency products and products and companies. In October 2021, MEXC Global won the “Handiest Cryptocurrency Exchange in Asia.” At the moment, it helps the trading of more than 1,400 cryptocurrencies and is the trading platform with the fastest launch escape for brand new initiatives and the most tradable categories. Consult with the discover place of abode and weblog for more information, and practice MEXC Global and M-Ventures & Labs.
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Company Name: MEXC
Name: Jenny Solar
Email: [email protected]
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