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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 spot, futures and other trades on the platform, and holders can also participate in various welfare activities such as Launchpad, MX DeFi, M-Day, Kickstarter and so on.
MEXC/MX
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MX Token is proof of rights and interests issued in the MEXC ecosystem. It is a tradable encrypted digital proof of rights and interests and was first launched in 2018 with an initial supply 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 community, 100 million MX Tokens have been transferred to the black hole address again and permanently burned (these tokens were held by MEXC Foundation Reserve). After the burn, the total supply dropped to 450 million, 100 million of which are circulating on the secondary market.
As of July 31, 2022, through the latest repurchase and burn, the total supply of MX Tokens has reduced to 443,857,130, and the circulating supply has dropped to 93,857,130.
After...
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