MEXC Launches New Futures Trading Fee Deduction as Users Surpass 10M
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MEXC, the world’s leading cryptocurrency trading platform, announced on September 26 that the number of platform users has exceeded 10 million. At the same time, MEXC also launched a new MX Token fee reduction system: Users can reduce the fee for futures trading with MX Token and enjoy a 10% discount on spot trading. Between September 26, 10:00 AM and October 2, 10:00 AM (UTC+8), MEXC will also launch an event where futures traders can share a 20,000-Tether (USDT) bonus.
This is the second core application scenario focusing on MX Token since the release of MX_USDT perpetual futures in July. For now, MX Token can reduce trading fees for 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.
MX Token is proof of rights and benefits granted in the MEXC ecosystem. It is a tradable encrypted digital proof of rights and benefits and was first launched in 2018 with an initial supply of one billion.
On December 31, 2021, MEXC permanently burned a total of 450 million MX Tokens after 38 buybacks.
Meanwhile, according to the MX Token 2.0 proposal, after voting by the MX Token community, 100 million MX Tokens have been re-transferred to the black hole address and burned permanently (these tokens were held by the MEXC Foundation Reserve). After the fire, the total supply dropped to 450 million, of which 100 million circulate in the secondary market.
As of July 31, 2022, with the latest buyback and burn, the total supply of MX Tokens has dropped to 443,857,130, and the circulating supply has dropped to 93,857,130.
After repeated buybacks, burns and increasing application scenarios, MX Token went from a low of around 0.119 USDT to a high of 3.7 USDT during the June 2020 to June 2022 bull market, with a maximum gain of 3,009%.
According to data from CoinGecko and Etherscan, MX Token is priced at 0.98 USDT, has a market cap of $98 million and a total supply of 443,857,130.
MEXC is the world’s leading cryptocurrency trading platform, providing one-stop cryptocurrency trading services for spot, exchange-traded funds, futures, stake, NFT index, etc., 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 for cryptocurrency products and services. In October 2021, MEXC Global won “Asia’s Best Cryptocurrency Exchange”. It currently supports the trading of over 1,400 cryptocurrencies and is the trading platform with the fastest launch speed for new projects and tradable classes. Visit the website and blog for more information and follow MEXC Global and M-Ventures & Labs.
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