MX is an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token, it operates on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/https://coinmarketcap.com/currencies/ethereum/) blockchain and relies on the Proof-of-Stake ([PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos)) consensus mechanism. Additionally, MX TOKEN has been audited by [SlowMist](https://www.slowmist.com/security-audit-certificate.html?id=101639593fa19126eb8e83988ef9a7cae2338a9266f27d6f92cd2a40da55cc9b), a blockchain security firm specializing in cybersecurity audits and protection.

MX TOKEN (MX) is a crypto asset deployed on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) blockchain as an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token. MX holders get exclusive access to community activities and promotions, as well as the right to participate in voting (related to business issues, project listing, team elections). In addition, MX use cases include payment of trading fees and MX DeFi mining. MX TOKEN (MX) has a total supply of 450,000,000 coins with 100,000,000 MX in circulation, as of June 2023.

MX TOKEN (MX) is deflationary, MEXC uses a part of the collected trading fees to buy back and burn tokens, reducing the overall supply. MX enables the growth and expansion of MEXC and incentivizes token holders to contribute to the development of the ecosystem. The core products of MEXC are: Launchpad, a platform where users can invest in projects at an early stage; Kickstarter, a pre-launch event where users vote with MX to launch projects on MEXC; MX-DeFi, a mining reward program that allows users to stake MX tokens and receive rewards; M-Day, an activity that allows users to purchase newly issued digital tokens through a lottery.

The company was established in April 2018 registered in Seychelles. The exchange was co-founded by Sheen Xin Hu (CEO), Aaron Wagener (COO), and Piotr Brzezinski (CTO). Besides starting the MXC Foundation, Sheen Xin Hu is also the founder and CEO at MatchX. Sheen Xin Hu holds a dual master's degree in Computer Systems Networking and Telecommunications from Technische Universität Berlin, and in Network and System Administration from Université Pierre et Marie Curie. He has 10 years of tech development experience, worked at Airfy and Relayr as a hardware engineer and at ASUS as a marketing assistant. Nowadays, Sheen Xin Hu is LPWAN, Docker and Blockchain evangelist and the core developer at MXC zkEVM. Currently, MEXC is run by a Singaporean businessman, John Chen, who took over as CEO in 2021, the same year the MXC Exchange was officially rebranded to MEXC Global, now MEXC Official.

MX TOKEN (MX) is the native cryptocurrency token released by [centralized exchange](https://coinmarketcap.com/alexandria/glossary/centralized-exchange-cex) (CEX) MEXC in 2019. MX powers the MEXC ecosystem and provides its holders with access to unique functionality and other benefits of the platform. Holders have the right to vote on business decisions, team elections and gain priority participation in activities and more. MEXC is a crypto exchange and [P2P](https://coinmarketcap.com/alexandria/glossary/p2p-dex) platform that provides access to spot, margin and futures trading. The exchange offers a versatile digital asset trading service, passive investment staking, [DeFi](https://coinmarketcap.com/alexandria/glossary/defi) tools and more. MEXC supports buy/sell transactions using fiat through the P2P market.