[Crypto projects](https://revain.org/projects/) › MX

# MX: how it works, supply and reviews

## Key facts

- **Ticker**: MX
- **Official site**: [mexc.com](https://www.mexc.com/)

Data: CoinGecko (trading activity) and CoinPaprika (links), 2026-10-27. Only projects that still trade with meaningful volume are listed.

## What is MX

MX Token (MX) is the native token of the MEXC crypto exchange, issued as an ERC-20 token on Ethereum. Holders get trading fee discounts and access to MEXC Launchpool and Kickstarter events, and MEXC buys back and burns MX every quarter.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Exchange token of MEXC |
| Runs on | Ethereum (ERC-20 token, 18 decimals) |

## Supply and issuance

| Parameter | Details |
|---|---|
| Fee burn | Under MX Token 2.0, MEXC uses 40% of quarterly platform profits to buy back and burn MX |
| Circulating target | MEXC states circulating supply is kept at 100 million MX |
| Example burn | 2,206,000 MX burned for Q1 2025, verifiable on Ethereum |

## What MX is used for

- 20% discount on MEXC trading fees
- Staking in MEXC Launchpool to receive airdrops of new tokens
- Voting for new listings in MEXC Kickstarter events
- Higher referral rebates for holders

## Who develops and governs MX

- **Company**: MEXC, a crypto exchange founded in April 2018
- **Governance**: MX holders can vote on MEXC proposals; the MX Token 2.0 proposal was adopted through a community vote

## History

| Date | Event |
|---|---|
| April 2018 | MEXC exchange founded; MX was later issued as its native token. |
| 14 April 2025 | Q1 2025 buyback and burn of 2,206,000 MX completed under the MX Token 2.0 framework. |
| 14 April 2025 | Burn transaction recorded on Ethereum by calling the MX Token contract's burn function. |

## Official MX contracts

| Network | Contract address |
|---|---|
| Ethereum | [0x11eef04c884e24d9b7b4760e7476d06ddf797f36](https://etherscan.io/token/0x11eef04c884e24d9b7b4760e7476d06ddf797f36) |

MX is an ERC-20 token on Ethereum; MEXC's own burn transaction calls this contract.

## Risks and caveats

- MX is closely tied to one company: burns depend on MEXC's quarterly profits, and most uses exist only on the MEXC platform.
- MEXC's stated 100 million MX circulating figure differs from the on-chain token supply reported by Etherscan.
- Using Launchpool and airdrops requires a MEXC account with KYC verification.

## Official links

- Website: [www.mexc.com/mx](https://www.mexc.com/mx)
- Blog: [blog.mexc.com/q1-2025-mx-token-buyback-and-burn](https://blog.mexc.com/q1-2025-mx-token-buyback-and-burn/)
- Block explorer: [etherscan.io/token/0x11eef04c884e24d9b7b4760e7476d06ddf797f36](https://etherscan.io/token/0x11eef04c884e24d9b7b4760e7476d06ddf797f36)

## Questions and answers

**What is MX Token (MX)?**

MX is the native token of the MEXC exchange, an ERC-20 token on Ethereum that gives fee discounts and access to Launchpool and Kickstarter.

**Who created MX?**

MX was developed by MEXC, a crypto exchange founded in April 2018.

**How does the MX burn work?**

Under MX Token 2.0, MEXC uses 40% of its quarterly platform profits to buy back and burn MX.

**What is the supply of MX?**

Etherscan showed 409,024,834 MX on 28 October 2026; MEXC says circulating supply is kept at 100 million MX.

## Sources

- [CoinGecko — MX](https://www.coingecko.com/en/coins/mx-token)
- [CoinPaprika — MX](https://coinpaprika.com/coin/mx-mx-token/)
- [MEXC — MX Zone (archived 10 June 2026)](https://web.archive.org/web/20260610060249/https://www.mexc.com/mx)
- [MEXC Blog — Understanding the Functions and Benefits of MX Tokens](https://blog.mexc.com/understanding-the-functions-and-benefits-of-mx-tokens-creator-wilbur/)
- [MEXC Blog — Q1 2025 MX Token Buyback and Burn](https://blog.mexc.com/q1-2025-mx-token-buyback-and-burn/)
- [Etherscan — MX Token](https://etherscan.io/token/0x11eef04c884e24d9b7b4760e7476d06ddf797f36)
- [Etherscan — Q1 2025 MX burn transaction](https://etherscan.io/tx/0x258ebc43a4f888ebdc382293e9e54b11190c31c28ad96ddd3a98d3c40653ec5d)

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Page updated: 2026-10-29

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Source: https://revain.org/projects/mx-token/