Recently, MX Token has received a lot of attention. This is a token issued on Ethereum’s Blockchain technology platform.
So to better understand what MX Token is? Let’s find out about this issue with AZCoin through the article below!
History of MEXC
MEXC was founded in April 2018, is a fast-growing comprehensive exchange and leader in the cryptocurrency market. We provide many valuable services to users, including Futures, Spot, ETF, NFT Index, Staking, and MX DeFi trading. Currently, MEXC is serving more than 10 million users worldwide. We are constantly improving and developing to bring the best to our users!
What is MX Token (MX)?
MX Token (or MX) is a decentralized digital asset developed by MEXC on the Ethereum network. As the native token of MEXC, the MX ecosystem is constantly evolving, providing users and builders with more features.
The goal of the MX token is to provide a secure, stable, and market-leading trading experience. MX is also a symbol of MEXCer’s rights. Users holding MX can vote on business decisions, vote on projects, and have priority participation in events.
In addition, MX holders can enjoy various benefits on MEXC. They will receive MX holding rewards, registration incentives, and free airdrops when voting for new listing projects. MX tokens also have practical applications, such as a 20% discount on MEXC transaction fees.
Advantages and disadvantages of MX Token
Advantages
MXC will use the user exchange fees on this basis to buy back MX tokens and sell them. MX Token (MX) holders will be able to use MX tokens to participate in IEO programs on MXC. In addition, they also need MX Tokens for voting or receiving discounts…
These are also the main features of the floor:
- Safe and stable: Safe and stable, multi-user and multi-tier
- High Performance: Order matching performance can be up to 1.4 million orders per second
- High Liquidity: Liquidity provided by strong resources and many partners
- Multi-language support: Many major languages worldwide are supported, including Vietnamese
- Supports multiple currencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC),…
- Customer Support: Help Center, API Documentation, VIP Privileges,..
- Products provided by MXC: PoS pool, PUSH, Totalial (spot trading, ETF trading), SpaceM, M-Day,…
Disadvantages
- The interface is quite complicated for users who have not yet thoroughly understood it.
- Sometimes the interface freezes sometimes
A few words about MX coin with MEXC exchange
The role of MX coin with MEXC exchange
In early 2021, MEXC Global announced the “Growth for Everything” campaign, making MX token the first cross-chain asset connecting Binance Smart Chain (BSC) and Huobi eco-chain (HECO). In addition, many on-chain MX token use cases have been introduced to the MX community, including lending, liquidity mining, and DEX trading.
The initial amount of MX tokens available was 1 billion, but the project has introduced a buyback and burn system to slowly decrease the supply over 38 cycles. As a result, there are now only 550 million tokens left in circulation.
With the launch of MX Token 2.0, MEXC will continue the MX Token “Buyback & Burn” program. MEXC has committed to allocate 40% of the MEXC platform’s profits to buyback and burn MX Token from the market every quarter, with the goal of maintaining the circulating supply of MX Token at 100 million.
Following the community vote in December 2021 regarding MX coin, the redistribution of MX will occur as follows:
- MEXC Foundation Reserve will receive 100 million MX Tokens.
- MEXC Labs will be allocated 150 million MX Tokens.
- MEXC Strategic Partner will get 100 million MX Tokens.
- The Circulating Supply will consist of 100 Million MX Tokens.
- There will be an immediate burn of 100 million tokens.
The remaining total supply is only 450 million MX tokens, and 350 million of them will be locked and unlocked gradually in the future in parallel with burning MX tokens to keep the circulating supply at only 100 million tokens.
Basic information about MX coin
- Transaction code: MX
- Blockchain: Ethereum
- Contract: 0x11eef04c884e24d9b7b4760e7476d06ddf797f36
- Token type: Utility token.
- Token standard: ERC-20
- Total supply: 450,000,000
- Circulating Supply: 100,000,000
- MX coin price today: $1.65
People operating the MEXC exchange
The CEO of MEXC is John Chen, who holds a Master of Science degree from Nanyang Technological University, Singapore. John Chen was previously the CEO of ezCare Global, Zallchain Pte Ltd, and iTechBlack. He is a person with many skills in the field of information technology such as Java, SQL, Oracle, HTML, C++, etc.
MX Token (MX) Monetary Policy You Need to Know
MX is the currency traded on the MXC exchange platform. MX token holders are able to enjoy a range of desirable rights and benefits. Examples include IEO, voting, discounts….
Of these, 60% of the exchange fees will be used as rewards for participants. They will be given to MX holders. The remaining 40% of the exchange fees will be used to buy back MX coins and sell MX monthly.
Where to buy MX coin, which exchange?
MX token has the ERC-20 standard, so it is compatible with Ethereum wallets that can store ERC-20 tokens. If you buy MX coin, you can store it right in the wallet of the exchange or choose wallets like Trust Wallet or Metamask.
Check out reviews of cryptocurrency exchanges and receive exclusive offers at top crypto exchanges 2024 page.
Conclude
In short, MX token is a potential gem. The value is increasing and the utility is more and more attractive. No matter which project you invest in on any trading platform, always make sure you fully understand the Evaluation Process that we have introduced.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
