MX Token (MX) tokenomics

MX Token (MX) is the native utility token of the MEXC Exchange, a global digital asset trading platform. It is a decentralized digital asset originally created on the Ethereum blockchain. The token is designed to provide a secure and stable trading experience while integrating finance with user engagement within the MEXC ecosystem.

Issuance and Supply Mechanism

The MX Token serves as the core of the MEXC ecosystem. While specific initial minting details for the total supply are not explicitly detailed in the provided data, the token functions as a utility asset that facilitates various platform activities. The platform utilizes a high-performance trading engine capable of 1.4 million transactions per second to support the liquidity and resource needs of its 7 million traders.

Allocation and Usage Mechanism

MX Token holders have access to a wide range of rights and utilities within the MEXC platform. The primary usage and incentive mechanisms are organized into several key products:

Incentive and Participation Requirements

The incentive structure is heavily tied to the amount and duration of MX held by the user.

• Airdrop Eligibility: To participate in the majority of airdrop events (Launchpad and Kickstarter), users must maintain a minimum of 1,000 MX tokens in their spot wallet for a consecutive 30-day period.
• Voting Power: In Kickstarter events, users commit MX tokens to vote. Rewards are typically distributed proportionally based on the total amount of MX committed relative to the total pool.
• Yield Mining: In MX DeFi events, the yield pool is often split, with a significant portion (e.g., 80%) frequently allocated specifically to MX stakers.

Locking Mechanism and Unlocking Time

The locking mechanisms for MX Token vary depending on the specific platform event:

• Kickstarter/Voting: During the voting period of a Kickstarter event, the MX tokens committed by the user are temporarily locked. These tokens are typically unlocked shortly after the event concludes (often within an hour or once the trading for the new project begins).
• Non-Lockup Commitments: Some Kickstarter initiatives are described as "non-lockup commitments," allowing users to receive daily airdrops while maintaining access to their tokens, provided they meet the 30-day holding requirement.
• Staking (MX DeFi): Tokens staked in MX DeFi are locked for the duration of the yield farming period, which is often short-term (e.g., 3 days).
• Snapshot Period: For Launchpad events, a 5-day snapshot period is used to calculate the average MX balance. While the tokens are not necessarily "locked" in a smart contract during this phase, decreasing the balance will reduce the user's potential rewards.

Summary of Token Benefits