Dear MXers and MEXC users, 

We, the MEXC team, love to share with you a major milestone for the MX Token: the launch of MX Token 2.0. 

As previously announced, we have reached our target of 100 million MX tokens in circulation. The MX token was first introduced in 2018 as the native cryptocurrency to MEXC that allows our users to pay trading fees at a discounted rate on the MEXC exchange. The initial token supply was 1 billion and after 38 buy-back and burns of 450,000,000 MX tokens (as the table attached), the total supply of MX token has declined to 550 million. Of the remaining 550 million tokens, 100 million MX tokens are currently in circulation, and while the other 450 million MX tokens were originally designed as team allocation, we did not unlock any of these tokens in the past three-plus years.

Nowadays, the Exchange Token has played a significant role in the development of the Blockchain Industry, such as attracting talents, establishing the ecosystem, and constructing the infrastructure for the blockchain, and building strategic partnerships, etc.

For the interest of the MX community, introducing of talents, and supporting the evolution of the MEXC ecosystem and MX 2.0, we are thrilled to announce that rather than granting the MX Token to the team, we will utilize those tokens to give more benefits to our MXers and to continue to accelerate MEXC’s growth.

 

MX Token 2.0 Proposals:

 

Started as a simple utility token created to pay for transaction fees on MEXC, MX token has increasingly evolved to become a cornerstone for MEXC while driving its fast growth and global expansion. MXers can use your MX tokens with multiple product offerings on MEXC:

 

1. MEXC Launchpad: MEXC’s token sale platform provides users worldwide with an exclusive opportunity to invest in high-quality projects. 
2. MEXC Kickstarter: a launch event activity at the pre-launch stage of a project in which the project initiates voting for the launch on MEXC, and then airdrops its tokens for free to all successful voting use. It only accepts MX in the vote and the winning project will provide free airdrops to MEXC users.
3. MEXC M-Day: An event that allows users to purchase a newly launched token through a lottery drawing. Through the trading round and MX holding round, users participate in token sales after acquiring a ticket from the M-Day event.
4. MEXC MX-Defi: A staking opportunity for users to stake MX/Project Tokens to receive more tokens as the yield.
5. MEXC Voting: A vote for MEXC users’ favourite tokens to be transferred into the Innovation Zone and get rewards.
6. MEXC PoS Pool: A simple and easy way for users to stake their tokens to receive additional tokens.

 

Since 2020, more than 200,000 MXers have participated in the above events and have received over $70 million of rewards.

Since launching three years ago, MEXC has now become one of the fastest-growing crypto-asset exchanges in the world, serving users from 200+ countries and regions. The current average daily trading volume has reached $2 Billion, while processing 1.4 million transactions per second, and 24/7 support is provided in more than 10 languages. The amount of MX transactions has also continued to grow, seeing more than $300 million in trading volume in November 2021. Millions of MEXC users use MX for trading and transaction fees, earning passive income with their MX holdings. 

With the support of our MXers and increasing adoption of the MX Token, the performance of MX price also surprised the market. The initial public sale of MX took place in 2018 at the price of 1 ETH for 60,000 MX, which at the time, equaled roughly $0.0092 per MX.  MX Token gradually found its way to become one of the major exchange tokens in the crypto market by growing more utility and use cases, as well as empowering the development of the MEXC ecosystem. Recently, the MX Token reached its ATH of 3.7 USDT, and the return for the early investor of MX is about 400 times. The market cap of MX tokens is ranked in the top 200 in the crypto market.

MEXC aims to cement its role as one of the top-tier one-stop service platforms for the leading crypto assets, with MX token continuing to be the keystone of this strategy, both within and beyond the MEXC ecosystem.

 

MX Driving MEXC

MX will carry on to drive the expansion of the MEXC, with MX being used for trading and transaction fees, and MEXC continues to work with more fiat partners to provide more easy methods for users from different countries and areas to access MX. MXers will continue to enjoy the significant benefit by holding or using MX in more future products on MEXC.

MEXC aims to build a primary one-stop service platform for the leading crypto assets, from early-stage funding, technical solution to the ultimate liquidity offering, etc. Projects at different stages can find the supporting programs or product offerings accordingly for their launch or growth. Through each case, MX will be largely applied and realized its utility, and draw the most value to MX token holders.

For the continued growth and evolution, MEXC will further build its ecosystem and expand into more products and markets to be powered by MX: DEX, Wallets, NFT, DAO, etc.

 

MX Beyond MEXC

MEXC is committed to developing a vast range of use cases and massive adoption of MX. We see the value of MX mainly from two aspects: controlled token circulating supply and increasing demand from growing MX use cases and adoptions.

MX will work with more partners within or beyond the crypto space and encourage the acceptance and adoption of MX, including but not limited to payment, gaming, shopping, etc.

MX is committed to embracing a more decentralized crypto world, MEXC will support building a decentralized ecosystem infrastructure and applying MX. MX was initially generated on Ethereum as an ERC-20 token. With more high-potential blockchains growing in the field, MX will migrate to different chains by partnering with more promising blockchain ecosystems and empowering more developers.

MX will support building more decentralized applications across various blockchains and accordingly drive MX adoption.

 

Commitment from MEXC Team

As part of the initial token design, 450 million MX token was committed to the MEXC team but was locked and never distributed to the team.

For the interest of the MX community, MEXC will continue the “Buy-Back & Burn” program of the MX Token. We will commit 40% of the MEXC platform profit to buy back and burn the MX Token from the market quarterly, with the goal of maintaining a circulating supply of MX Token at 100 million.

To support the evolution of the MEXC ecosystem and MX 2.0, we have summarized the latest proposals after collecting the suggestions from our MX community for one month. Next, we will hold an MX community vote for this proposal starting from December 4th, 2021. You may visit the voting page by https://www.mexc.ai/mx-vote. These 450 million MX Token will be pivoted for the following initiatives: MEXC Foundation Reserve, MEXC Labs and MEXC Strategic Partnerships. The Details of the Proposals:

 

Proposal A:

1. MEXC Foundation Reserve: 100,000,000 MX Token
2. MEXC Labs:  250,000,000 MX Token
3. MEXC Strategic Partnership:  100,000,000 MX Token

Proposal B:

1. MEXC Foundation Reserve:  100,000,000 MX Token
2. MEXC Labs:  150,000,000 MX Token
3. MEXC Strategic Partnership:  100,000,000 MX Token
4. Immediate Burn: 100,000,000 MX Token

 

Notes and Explanation:

1. MEXC Foundation Reserve: MX Token will be allocated for Foundation Reserve for the purpose of growing and incentivizing the MEXC team. MEXC team is committed to building and developing MEXC for the long run. The MX Token granted to the MEXC team as part of the incentive plan will be following an 8-year vesting and quarterly release schedule.

2. MEXC Labs: MX token will be used to set up MEXC Labs, which will be the investment arm of MEXC, dedicated to the investment in the blockchain industry for the long term as well as facilitating the growth of the MEXC ecosystem.

MEXC will gradually initiate MX DAO further to engage the MX community in the investment decision-making. MX Token holders will be able to participate in the referral, evaluation, and decision of investments in the future.

The MX community will also have various ways to benefit from the MEXC Labs investment. 40% of the investment tokens will be distributed to the MX Token holders in the form of Launchpool or other investment products. The above “Buy-back & Burn” program of 40% platform profit will also be applied in MEXC Labs.

3. MEXC Strategic Partnership: MX Token will be allocated to the top-tier global strategic partners in the future. The onboarding of the strategic partners will be voted by the MX community or announced publicly.

4. Immediate Burn: MX Token will be directly transferred to the black hole address and burnt permanently if the proposal is passed.

 

The proposal above is to align the interest of the MEXC team and community largely; it attempts to draw the most value to MX token holders.

We are determined to work with our community and make MEXC great. It is a long and exciting journey that we have just begun. We are here on a mission. We are here to exchange the world, again.

The above voting will take place between December 4th, 10:00 (UTC) to December 6th, 10:00 (UTC). For detailed voting rules, please visit the following: https://www.mexc.ai/mx-vote

Additionally, if you have any recommendations for the growth of MEXC and the development of the MX token ecosystem, please add your comment in the form below. We deeply value your feedback for MEXC, and we look forward to hearing from you.

Form Link: https://forms.gle/1WQjomoi4ftufxUQA

 

MX Buyback and Burn Table

 

Thank you again for your support!

 

The MEXC Team

4 December 2021