The MX Token project has an initial supply of 1 billion tokens, which has been reduced through a buyback and burn mechanism over 38 cycles. As a result, the remaining supply is 550 million tokens, with 100 million currently in circulation. The other 450 million tokens were originally designated for team allocation.
After the community voting takes place in December 2021 on MX coins, these 450m MX will be reallocated at the following rate: MEXC Foundation Reserve: 100,000,000 MX Token MEXC Labs: 150,000,000 MX Token MEXC Strategic Partnership: 100,000,000 MX Token Immediate Burn: 100,000,000 MX Token
Lets make a comparison between MX and BNB as fig 1
- The holding ratio for MX is 36% (assume that the first 100m MX are mostly held by MX team, plus 100m MX in foundation reserve), slightly lower than BNB.
- BNB holders are diverse, with 50% of tokens being from ICOs, making it less susceptible to manipulation. This is a VERY IMPORTANT NOTE. I don't like the centralization of MX wallets so 3 stars are removed for this
With the launch of MX Token 2. , MEXC will continue its MX Token "Buy & Burn" program. The platform has committed to using 40% of its profits to buy back and burn MX Tokens from the market quarterly. The goal is to maintain the circulating supply of MX Tokens at 100 million.
It's worth noting that the MX Token granted to the MEXC team as part of their incentive plan will follow an 8-year vesting and quarterly release schedule, demonstrating their long-term commitment to the project. Show Less
