MEXC Exchange Releases MX Buy-back & Burn Information of May, 2021

MEXC Exchange used the profits from trading fees of May 2021 to repurchase MX tokens from secondary market. The repurchased tokens was burned on the last day of July 2021, following the voted plan by MEXC communities since July 2019.

Starting from November 2019, MXC has also implemented “Buy-back & Burn” program on the MX tokens that our users had used to deduct trading fee.

Here are the specifics:

A total of 12,164,333.91 MX token was burnt in May, 2021.

The circulating part of FET locking will be burnt earlier than schedule time. There were 6,509,310.51 MX being burnt from the Circulating Supply, 5,655,023.4 MX being burnt from the FET locking and more to be burnt subsequently in the future.

Starting from May 2021, to better develop MX ecosystem,MEXC listened to community’ advises and come up with voting to decide the proper way to handle MX Team Locked MX token when MX circulating supply reach 100 million and FET locking is all burnt.

For more information, please stay tuned to our future announcement.

FET Burn Address:

https://etherscan.io/tx/0x723ddabad0bce59733853a43bc7b3400ce47f6be8bdef498f3d58c103a8af7e9

Others Burn Address:

https://etherscan.io/tx/0xf9462aadb43ba194ca0bec771949266c15821bdb9bd36224a7f622ef72ccf700

After the burnt, the number of MX remained is 575,030,518.48 MX which consists of:

MX Team Locked: 450,000,000 MX

FET Locking: 25,030,518.48 MX

Circulating Supply: 100,000,000MX

Address to check up to date MX Total Supply:

https://etherscan.io/token/0x11eef04c884e24d9b7b4760e7476d06ddf797f36