As the local token of MXC, MX token has been playing an important role in connecting the communities, partners and the MXC team. MXC always stay committed to enpowering the MX token, including but not limited to "MX Repurchase & Burn Scheme", "Trading fee discount by MX", "MX liquidity improvement", "SpaceM New Listing", increase of MX use cases, improvement of MX token eco-system, etc.
The community users recently propose to "Burn part of MX token". After considerable consideration, MXC determines to launch a voting campaign on whether to burn the following part of MX token:
1. Burn the 95,568,421 MX held by MXC eco-foundation.
2. Burn the 150,000,000 MX held by MXC inverstor protection fund.
It's a total of 245,568,421 MX token.
The total supply of MX token is a fixed number of 1 billion. Since July, 2019, MXC has burnt a total of 70471771 MX (including the 5,855,435 MX burnt in January, 2020). The current total supply is 929,528,229 and the circulating supply is 203,274,266. If the community agrees to burn the 245,568,421 MX in the voting, the total supply of MX token will be reduced to 683,959,808.
The details of the voting campaign will be informed in our further announment.
Besides, in December, 2019, MXC announced that the MX token belonged to the team would not be released before 2021 and if there's a unlocking plan, MXC will inform all users a month in advance and will hold a voting to determine whether to unlock it & how to unlock.
The promise is still valid. Furthermore, MXC promises that no matter when the team allocation to be released, it will not enter the market for circulating. They will gradually be repurchased and burnt with the development of MXC.
MXC will continue the Repurchase & Burn Plan using 100% profit from trading fee to repurchase the MX token from secondary market each month and burn them on the last day of the month, until the total supply of MX token reduced to 100 million.
March 1st, 2020