MX Token (MX) is the digital utility token developed by the MXC trading platform on the Ethereum network. It serves as proof of stake for the MXC communities, participants, and holders that are eligible to vote in the MXC network, capable of electing other members, and taking part in other community activities.
As MEXC’s native token, the MX ecosystem is gradually improved each day to empower users and builders. Also, MXC has used 100% profit from trading fees each day to buy back MX tokens from the wide market and then burn them on the last day of every month since July 1, 2019, till the total supply reaches 100 million.
MX Token plays a core role in linking communities, teams, and partners within the MEXC ecosystem and was designed for mainly 3 functions:
- The token is designed to be a means of payment of the platform’s trading fees at a discounted price.
- Participate in Launchpad, Kickstarter, M-day, and more events to engage with the latest partner projects.
- Serves as proof of the MEXC community’s interests and allows users to take part in the community governance.
What is the MXC trading platform?
MEXC Global is a centralized exchange platform, founded in 2018 that uses a high-tech matching technology for digital financial payments. The MEXC platform is sustained by a team of experts with extensive experience in blockchain technology.
Currently, MEXC Global has around 5 million users in over 70 countries around the world, an achievement that proves it is the go-to platform for new and experienced investors.
The exchange spreads across four countries, Canada, Australia, Estonia, and the United States, where it has got fundamental approvals and licenses. The exchange completes over 1.4 million transactions in just one second, resulting in increased efficiency and enhanced performance. Our server clusters are hosted independently in Singapore and Korea to strengthen security and enhance transactional operations.
MXC has a high-end cold storage wallet to ensure the security of funds stored on the exchange. They handle over 500 million dollars worth of cryptocurrency deposits.
As a token of MXC, MX token empowered all community participants, improves the MXC ecosystem and helps MXC become a leading digital asset trading platform that provides secure and convenient services for all users.
Who Are the Founders of MX Token (MX)?
Metin Mehmet Durgun is the founder of MX Token and the Chief Executive Officer. He had his Bachelor’s degree in international economics from the Belarusian university in 2011. He furthered his education where he attended Nankai University, graduating with a Bachelor’s degree in Chinese Language and Literature.
Before developing the MX Token, Metin had several experiences in other fields. He was the business developer for APAC, a GlobalX associate for Amber Group, and an overseas Operations manager.
What is MX Token (MX) used for?
To elect delegates
Perhaps a group of qualified users is selected to perform a specific role on the platform, and an election needs to take place to pick the community favorite. The MX token will allow the holders to vote for the delegate of their choice.
Vote on decisions that will affect the development of the MXC network
The benefit of the MX Token is the ability to vote and decide as a holder. MX token holders can vote and make conscious efforts to implement actions on the platform and their voting power is proportional to the amount of MX tokens they hold.
Earn rewards and incentives
Delegates that get to perform one or more activities on the MXC platform are rewarded with MX tokens as compensation for their efforts.
What Makes MX Token (MX) Unique?
Unlike most blockchain-based tokens that serve as a tool to enrich the platforms most times, MX token is different as it serves to benefit the MX community. As aforementioned, the MX Token is a decentralized digital asset by the MEXC platform. It provided a stable financial experience for the holders and also make the industry leaders.
It serves as proof of right for their community and gives the right to vote, decide like delegate selection, business decisions, team selection, and also gain popularity. The holders of the token benefit from the asset appreciation on the price chart, and also enjoy rebates on the platform’s revenue.
How Many MX Token (MX) Coins Are There in Circulation?
Initially, there were 1, 000,000,000 MX tokens were created among which 30 million MX tokens were burnt off. Currently, it has a circulating supply of 270 million MX.
How Is MX Token (MX) secured?
Since it’s the onset of public release, there has been no recorded case of fraud, theft, or hacking on the MXC exchange platform. They have ensured this by implementing several security measures that help keep the users’ information and the platform safe. Such measures include typing their confirmation code which is usually sent to the email address of the user. The platform also encourages users to implement Google’s authenticator and there have been pop-up ads that constantly remind users to update their security features on their account.
How do I buy MX Token (MX)?
MX Token is the official utility token for the MXC exchange platform. It is used amongst the MXC community to perform various activities on the platform and also serves as a tool to empower the community. MX tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Deposit a specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and Buy MX tokens through your trading account.
Which Cryptocurrency Wallet Supports MX Token (MX)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as MX Token (MX). Because of its vast use of MX, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their MX wallet because it offers a simple and interactive interface making it easy for people to navigate its system.