MX Token has been trending upward together with the use of the global exchange MEXC, increasing not only in price but also in its utility. In this article, we will take a look at what MX Token offers and the types of utility it provides for traders and MEXC users.
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What is the relation between MEXC and MX token?
MX Token’s rules are straightforward: 40% of MEXC’s profits are used to buy back and burn tokens to maintain a constant supply of 100 million tokens, ensuring their rarity and value.
MEXC’s expanding user base and trading volume directly boost demand for MX tokens – the more people trade, the higher the exchange is valued, reflecting directly in the coin’s price.
100 million tokens are set aside for the Foundation Reserve to motivate the MEXC team with a clear vesting plan, promoting transparency and fairness. Another 150 million tokens are earmarked for MEXC Labs, the investment arm that nurtures growth within the MEXC ecosystem.
Benefits for MX Token Holders
There are several benefits for those who hold the official token of MEXC. We know of three different ones:
Trading Fee Discounts
Although MEXC’s fees are already among the lowest in the centralized exchange (CEX) space, holding 1,000 MX Tokens for 15 days will obtain a 50% discount on perpetual futures trading fees for both maker and taker. This is quite handy if you do high volume. For smaller traders, it may not be worthwhile.
Holding MX tokens will also reduce your spot trading fees, as they are deducted first and offset them, providing a 20% fee discount. This is good for paying less fees by simply holding a small amount of MX in your wallet.
Free Airdrop Opportunities
On Launchpad and Kickstarter events that MEXC rolls out to promote or launch new tokens, exclusive MX Token holders benefit in a way that allows them to participate in over 30 weekly free airdrops with an APY exceeding 50%.In order to be eligible for free airdrop opportunities, you need to hold at least 1,000 MX. This can be tempting for some who see potential in MEXC and the ongoing memecoin season.
MX holders are also empowered to vote for and support projects they believe in. Successful votes lead to proportional airdrops from the reward pool. But this does not guarantee free money; you simply have a chance to receive airdrops of newly listed coins and win portions of prize pools.
Boosts affiliate commissions up to 70%
If you refer people to MEXC and become an affiliate, you can increase your earnings by holding and locking MX. Doing so allows you to earn up to 70% commission on referral fees.
This feature can influence your earnings as an MEXC affiliate. There are two ways to increase your referral rate to 70%.
You have 5 valid first-time traders during the period and hold 2,000 MX tokens on the last day of that period.
OR
You hold 20,000 MX, which will also increase your commission to 70%.
If you do not meet either of these criteria, your commission will be 50%. Which is also favorable for affiliates in the cryptocurrency niche.
How to Buy MX Token on MEXC?
Buying MX Token is easy and can be done on the MEXC platform:
- Log into your MEXC account and click [Trade], then [Spot].
- Use the search bar to find “MX” and select a trading pair, like MX/USDT.
- In the [Spot] box, enter the MX amount you wish to buy.
- Choose the order type—Limit, Market, or Stop-limit. For a Market order, click [Buy MX].
- Your new MX Tokens will appear in your Spot Wallet.
What are MX Token Futures?
MX Token futures contracts are a type of financial agreement that allows traders to buy or sell MX Tokens at a later date. These contracts represent a promise to exchange MX Tokens for a set price in the future. When the contract is exercised, the actual exchange of MX Tokens or cash will happen. MX futures are available to trade on MEXC Global.
To trade MX token futures, simply navigate to the Futures tab, click on perpetual futures, and select either USDT-M perpetual futures or Coin-M perpetual futures depending on your preference. Next, search for MX in the token search bar. Once you transfer funds from the spot wallet to the futures wallet, you are set to trade MX token futures!
What Has Been the Growth Trajectory of MX Token in 2023?
MX Token has experienced increased valuation as MEXC grew more popular in recent weeks when many sought to trade newly trending memecoins, which were often primarily listed on decentralized exchanges.
In the MX token price analysis, we see a notable upward trend:
- February: $1.439 USDT
- March: $2.1049 USDT
- April: $2.4322 USDT
- May: $3.2 USDT
- June: $3.72 USDT
- July: $2.97 USDT
- August: $2.89 USDT
- September: $2.32 USDT
- October: $2.95 USDT
- November: $3.06 USDT
What’s Next for the MEXC Ecosystem and MX Token?
MX Token’s trajectory correlates with MEXC’s success and increasing usage. With the benefits of holding the token, we can say that if MEXC prospers, its token likely will too. However, we must remember MEXC is not yet regulated and could face regulatory penalties or requirements to comply with certain jurisdictions.
🌟 Discover Reward Opportunities on MEXC 🌟
Current incentive programs offered by MEXC;
🔸 Start with a transfer of ≥ 500 USDT to MEXC, keep it for 7 days, and receive a bonus between 5-30 USDT. That’s effortless profit! 💵
🔸 Join MEXC’s weekly trading competitions. Top 1000 traders share a prize pool from 3,000 USDT to 300 USDT. It’s time to show your trading skills! 🚀
🔸 Bring your friends along to MEXC! Once they complete KYC and trade ≥ 10,000 USDT in futures, you get an easy 5 USDT. Because sharing is caring! 💞
Please remember, as with all trading activities, there are inherent risks involved, including counterparty risk. Always trade responsibly and be aware of the risks involved.
