Unlocking the Potential of the MX Token
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1. What is the MX Token?
MX is the native utility token issued by MEXC, powering the MEXC ecosystem. The MEXC platform offers a secure and convenient trading environment for cryptocurrency enthusiasts. Furthermore, users who hold MX Token can enjoy extra benefits.
2. What are the Benefits of Holding MX?
2.1. Exclusive Free Airdrops
MX token holders are entitled to exclusive monthly airdrop events. To participate and claim rewards, visit the MEXC official website, and select [Kickstarter] under the [Events] section in the homepage navigation menu.
Participating in Kickstarter events allows users to receive free airdrop rewards for new tokens. MX tokens used for participation are not locked, and users can join all Kickstarter events that meet the eligibility criteria simultaneously.
Please note that Kickstarter events have participation requirements, which mandate a minimum holding of MX tokens to qualify. Additionally, the more eligible users you invite, the higher your corresponding contribution multiplier, and the greater your share of rewards.
For detailed information on the participation requirements for the Kickstarter program, please refer to the guide: How to Participate in Kickstarter?
2.2. Exclusive Fee Discounts
MEXC offers extremely low trading fees, with Spot trading fees set at 0% for Makers and 0.05% for Takers. Futures trading fees are 0% for Makers and 0.02% for Takers.
Users can also use MX to offset Spot and USDT-M Futures fees by 20%. If they hold more than 500 MX for 1 continuous day, they can enjoy a 50% discount on Spot and Futures fees.
Note: Fee rates may vary by country or region. Please refer to the rates displayed on the fee rates page.
2.3. Exclusive Referral Rewards
MEXC offers a referral commission program where users can invite friends to trade on the platform to earn a commission calculated as a percentage of their trading volume. This commission is not a one-time settlement: for each trade the invited friend completes, the referrer will receive a percentage of the trading fee as the commission.
Go to the top right corner of the MEXC platform homepage, click on the user icon, select [Referral], and click on [Invite Friends] on the referral page. Copy the referral code or referral link and send it to friends to invite them to trade on MEXC.
To learn more about referral commissions, check out Inviting Friends to Sign Up on MEXC.
3. Rewards for Holding MX Tokens Long-Term
3.1. Airdrop Rewards
According to an analysis of MEXC's internal data, from January to November 2023, a total of 1113 airdrop events were conducted, averaging 111.3 events per month. The total prize pool amounted to approximately 130 million USD, with an average monthly pool exceeding 11 million USD.
If a user met the participation criteria from November 24-30, they could have participated in more than 28 Kickstarter and Launchpool events, providing an annualized yield of more than 68%.
3.2. Referral Rewards
When users invite friends to sign up on the MEXC platform, they will receive a certain percentage of the trading fee as commissions each time their friends complete a trade. The commission rate for standard users for both Spot and Futures trading is 40%. If the referrer wishes to earn a higher commission, they may apply to become an MEXC affiliate. After successfully inviting friends that meet the requirements, the referrer can receive up to 60 USDT in Futures bonus, and each valid referral can also receive a 20 USDT Futures bonus reward.
Spot commission rewards will be issued around 00:00 (UTC+8) the following day, while Futures commission rewards will be distributed around 09:00 (UTC+8) the next day. The actual payout time may have some delays, with the next day's actual payout time being the reference. The commission rewards will be credited to the MEXC Spot account. Please view the commission records on the MEXC referral page.
3.3. Token Appreciation Rewards
The most direct source of value for a token comes from the fluctuation in its own price, and MX is no exception. In the first quarter of 2023, MX saw its highest growth rate, reaching 330%. As of now, MX's price has surged by over 265% in 2023. Long-term holders of MX can profit from its price appreciation. The more you hold, the lower your entry cost, leading to higher returns.
Additionally, MX tokens benefit from a periodic burning mechanism to stabilize their value. The supply of MX is controlled by MEXC's regular token burning. When tokens are burned, the circulating supply decreases, increasing scarcity. Increased scarcity often leads to price appreciation, making MX relatively less prone to devaluation compared to cryptocurrencies without a burning mechanism.
The MEXC platform allocates 40% of its profits to the purchase and burning of MX tokens. In the first three quarters of 2023, the MEXC platform has burned approximately 5.32 million MX tokens in total. The goal is to maintain the circulating supply of MX tokens at 100 million. To check the burning records, select [Spot] in the top navigation bar on the homepage, then choose [MX Zone], and click [View Burn History] on the MX Zone page for data insights.
Holding MX serves not only as a form of investment but also as a tool for financial management. Beyond the MEXC platform, MX tokens are presently featured on prominent centralized exchanges, such as Huobi and Bybit, enhancing MX Token's market liquidity and expanding its potential holder base. This acknowledgment of market value is expected to influence the price of MX tokens over time.
Disclaimer: This information does not provide advice on investment, taxation, legal, financial, accounting, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Learn provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. MEXC is not responsible for users' investment decisions.