Finance News

MEXC Users Surpass 10M, and a New Futures Trading Fee Deduction Is Launched

MEXC, the world’s leading cryptocurrency trading platform, announced that the number of platform users had surpassed 10 million. At the same time, MEXC also launched a new MX Token fee deduction scheme: Users can use the MX Token to deduct the fee for futures trading and can enjoy a 10% discount on spot trading. During the period from 10:00 on Sept. 26 to 10:00 on Oct. 2 (UTC+8), MEXC will also launch an event where futures traders can share a 20,000-Tether (USDT) bonus.

This is another core application scenario centered around the MX Token after the launch of the MX_USDT perpetual futures in July. So far, MX Token can be used to deduct the trading fee of spot, futures and other trades on the platform, and holders can also participate in various welfare activities such as Launchpad, MX DeFi, M-Day, Kickstarter and so on.

MEXC/MX

MX Token is proof of rights and interests issued in the MEXC ecosystem. It is a tradable encrypted digital proof of rights and interests and was first launched in 2018 with an initial supply of 1 billion.

On Dec. 31, 2021, after 38 repurchases, MEXC permanently burned a total of 450 million MX Tokens. Meanwhile, according to the MX Token 2.0 proposal, after being voted by the MX Token community, 100 million MX Tokens have been transferred to the black hole address again and permanently burned (these tokens were held by MEXC Foundation Reserve). After the burn, the total supply dropped to 450 million, 100 million of which are circulating on the secondary market.

As of July 31, 2022, through the latest repurchase and burn, the total supply of MX Tokens has reduced to 443,857,130, and the circulating supply has dropped to 93,857,130.

After repeated repurchases, burns and increasing application scenarios, the MX Token rose from a low of about 0.119 USDT to the peak of 3.7 USDT in the bull market from June 2020 to June 2022, with a maximum gain of 3,009%.

According to CoinGecko and Etherscan data, the price of MX Token is 0.98 USDT, its market cap is $98 million, and its total supply is 443,857,130.

About MEXC

MEXC is the world’s leading cryptocurrency trading platform, providing one-stop cryptocurrency trading services for spot, exchange-traded funds, futures, staking, NFT Index, etc. ,and serving more than 10 million users worldwide. The core team has a solid background in traditional finance and has professional financial product logic and technical security guarantees in terms of cryptocurrency products and services. In October 2021, MEXC Global won the “Best Cryptocurrency Exchange in Asia.” Currently, it supports the trading of more than 1,400 cryptocurrencies and is the trading platform with the fastest launch speed for new projects and the most tradable categories.

  •  Website-https://www.mexc.com/
  •  blog-https://blog.mexc.com/zh/
  • MEXC Global-https://twitter.com/MEXC_Global
  • M-Ventures & Labs-https://twitter.com/MVenturesLabs

Contact:

 

Ananthi R

Crypto trading has enticed Ananthi R to write for TechBullion. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.

Share
Published by
Ananthi R

Recent Posts

The Basics of Crowdsourcing: How Does it Work? 

Crowdsourcing is a modern method of outsourcing tasks or projects to a large group of…

1 hour ago

5 Cost-Effective Ways to Cool Your Home with a Home Depot Fan

As the summer months approach, it becomes more and more important to find ways to…

1 hour ago

Why You Should Care About VeChain(VET): The Promising New Blockchain Network

A public blockchain called VeChainThor is intended for widespread use of blockchain technology by companies…

1 hour ago

North Dakota Electricians: Fulfill Your Continuing Education Obligations Online

Do you have a North Dakota electrician license and need to fulfill your continuing education…

2 hours ago

Top 10 Tit-tok Quizzes Guide 2023

A Top 10 quiz is a fun and educational format for testing general knowledge. Participants…

2 hours ago

Competitive Trading Conditions to Meet the Needs of All Traders – Fintradespace Review

It is essential to have the best competitive trading conditions and account packages available in…

2 hours ago