MX TOKEN (MX) serves as the native digital asset for the MEXC centralized exchange (CEX), having been launched in 2019. This token fuels the MEXC ecosystem, granting holders specific platform advantages and unique features. These benefits include voting rights on corporate matters and team selections, as well as priority access to various activities.

MEXC operates as both a cryptocurrency exchange and a peer-to-peer (P2P) platform, facilitating spot, margin, and futures trading. The service provides a broad range of options, including passive investment staking, DeFi utilities, and other digital asset trading tools. Additionally, users can conduct fiat-based buy and sell transactions via the P2P marketplace.

The organization was registered in Seychelles and founded in April 2018. The exchange was co-founded by Sheen Xin Hu (CEO), Aaron Wagener (COO), and Piotr Brzezinski (CTO). Along with launching the MXC Foundation, Sheen Xin Hu is also the founder and CEO of MatchX.

Sheen Xin Hu holds dual master's degrees: one in Computer Systems Networking and Telecommunications from Technische Universität Berlin, and another in Network and System Administration from Université Pierre et Marie Curie. He has 10 years of tech development experience, having worked as a hardware engineer at Airfy and Relayr, and as a marketing assistant at ASUS. Currently, Sheen Xin Hu is an LPWAN, Docker, and Blockchain evangelist and serves as a core developer at MXC zkEVM.

MEXC is currently operated by Singaporean businessman John Chen, who became CEO in 2021. This was the same year that MXC Exchange was officially rebranded to MEXC Global, now known as MEXC Official.

MX TOKEN (MX) features a deflationary model, as MEXC allocates a portion of its trading fee revenue to repurchase and burn tokens, thereby decreasing the total supply.

The token supports MEXC’s expansion and encourages holders to aid ecosystem growth. MEXC’s primary offerings include: Launchpad, which facilitates early-stage project investment; Kickstarter, a pre-launch mechanism where users vote with MX to list new projects; MX-DeFi, a staking program that distributes mining rewards to MX holders; and M-Day, a lottery-based event for acquiring newly issued digital assets.

MX TOKEN (MX) operates as an ERC-20 token on the Ethereum network. Holders enjoy exclusive entry to community events and promotions, along with voting rights concerning business matters, project listings, and team elections. The token is also used for paying trading fees and for MX DeFi mining. As of June 2023, the total supply stands at 450,000,000 coins, with 100,000,000 MX in circulation.

As an ERC-20 token, MX runs on the Ethereum blockchain and utilizes the Proof-of-Stake (PoS) consensus mechanism for security. Furthermore, the blockchain security firm SlowMist, which specializes in cybersecurity audits and protection, has conducted an audit of MX TOKEN.

The most straightforward method to acquire the MX token is through a direct purchase on the MEXC exchange. Other platforms that offer the ability to buy or trade MX include Huobi, Bybit, Jubi, and ZT.