Coin columns · Ethereum City (Capital)
MX Token: The Exchange Coin of MEXC and Its Quarterly Burns
An exchange token for fee discounts and launch events
MX is the platform coin issued by the crypto exchange MEXC, used for trading-fee discounts and for joining new-token events. It is known for the ‘MX Token 2.0’ plan of late 2021, which set how its supply is distributed and burned.
1. What it is and who issues it
MEXC is a centralized exchange that opened in 2018 and is known for spot and futures trading and for listing new tokens quickly. It is a foreign exchange rather than a Korean one; it serves many countries, but the rules that apply differ from country to country. MX is the token the exchange launched in April 2018.
MX is an ERC-20 token on Ethereum. On the Crypto Nation map, MX stands in Ethereum City (the capital), because it was issued on Ethereum. As an exchange token, its value is closely tied to the exchange’s business and trustworthiness.
2. Supply and burn rules
MX began with a total supply of 1 billion. In December 2021, after a community vote, MEXC adopted ‘Plan B’ of its MX Token 2.0 proposals and reallocated 450 million MX from the foundation reserve. Of these, 100 million were burned at once, 100 million became a foundation reserve released over eight years, 150 million went to its investment arm MEXC Labs, and 100 million to strategic partners.
MEXC also says it spends 40 percent of platform profit each quarter on buying MX on the market and burning it, aiming to keep circulating supply near 100 million. Its Q3 2025 burn notice confirmed the same principle. It also planned to open an MX DAO in stages so holders could join investment reviews.
3. Uses and milestones
MX holders are said to get trading-fee discounts on MEXC, to join events such as Launchpad and Kickstarter that introduce new tokens, and to vote on matters such as listings. Referral rewards and similar perks depend on the exchange’s policy and can change over time.
The token appeared in April 2018, a community vote on 4 to 6 December 2021 settled MX Token 2.0, and its allocations applied from January 2022. MEXC has since issued a burn notice each quarter, linking results to on-chain transactions, though the profit figures behind them come from the exchange’s own statements.
4. Things to know
An exchange token’s value rests heavily on the exchange’s soundness and trust. MEXC is a foreign exchange, so Korean user-protection rules may not apply, and services can be restricted or halted depending on regulation. Local rules, such as registration requirements for overseas exchanges in Korea, should be checked before use.
Burn targets, supply goals and benefit rules are policies the exchange announces and can change, and it is worth checking how open governance such as the MX DAO really is. Some data sites list total and maximum supply differently, so exchange announcements should be the reference. MX is tied to benefits inside the exchange, so it is less useful to people who do not use it.
Written from information public up to October 2026. It does not recommend or rate any coin and is not investment advice. If something is wrong, please tell us through the contact page.