What is MX TOKEN?

MX TOKEN (MX) is a native cryptocurrency token introduced by a centralized exchange in 2019. It serves as a key component of the ecosystem, providing its holders with access to certain features and benefits of the platform. MX TOKEN holders are granted voting rights on business decisions, team elections, and are given priority participation in various activities. The token has a deflationary characteristic, with a portion of the trading fees being used to buy back and burn tokens, thereby reducing the overall supply. MX TOKEN is an ERC-20 token, deployed on the Ethereum blockchain.

How does MX TOKEN work?

MX TOKEN operates within a crypto exchange and P2P platform that provides access to spot, margin, and futures trading. The platform also provides a range of digital asset trading services, passive investment staking, and DeFi tools. MX TOKEN holders have access to community activities, as well as the right to participate in voting on business issues, project listing, and team elections. The token also contributes to the coverage of trading fees and MX DeFi mining.

What are the potential use cases for MX TOKEN?

MX TOKEN is intended to support the growth and expansion of the ecosystem. It encourages token holders to contribute to the development of the ecosystem. The core products of the platform, such as Launchpad, Kickstarter, MX-DeFi, and M-Day, all utilize MX TOKEN. Launchpad is a platform where users can support projects at an early stage, Kickstarter is a pre-launch event where users vote with MX to initiate projects, MX-DeFi is a program that allows users to stake MX tokens and receive compensation, and M-Day is an activity that allows users to acquire newly issued digital tokens through a lottery.

What is the history of MX TOKEN?

MX TOKEN was released by a centralized exchange in 2019. The company was established in April 2018 and registered in Seychelles. The exchange was co-founded by Sheen Xin Hu, Aaron Wagener, and Piotr Brzezinski. Sheen Xin Hu, who also started the MXC Foundation, is a tech development veteran with a decade of experience and is the core developer at MXC zkEVM. In 2021, the exchange was officially rebranded to MEXC Global, now MEXC Official, under the leadership of Singaporean businessman, John Chen, who took over as CEO. As of June 2023, MX TOKEN has a total supply of 450,000,000 coins with 100,000,000 MX in circulation.