MX Token

Halal Rating :
Comfortable
Last Price $3.38 Last updated:
Rank 239
1D Change -3.19 %
Market Cap $326.7m
Circulating supply 96,781,834
Maximum supply 1,000,000,000

Crypto Overview

Categories
  • Marketplace
  • Centralized Exchange (CEX) Token
  • Discount Token

Overview

MX Token is the native token of MEXC Global, a centralized cryptocurrency exchange. It serves multiple utilities within the MEXC ecosystem, primarily as a governance and utility token.

Intended Utility

The token's primary purposes include: trading fee discounts on the MEXC exchange, participation in exchange governance decisions, access to new token listings and Initial Exchange Offerings (IEOs), and staking rewards through the MEXC exchange.

Actual Utility Assessment

On-chain data and platform usage metrics indicate that MX Token is actively used for its intended purposes, particularly for trading fee discounts and platform governance. The token demonstrates consistent trading volume and active usage within the MEXC ecosystem.

Token Distribution and Governance

MEXC Global maintains transparency regarding token distribution, with clear allocation between the team, platform operations, and public circulation. The exchange implements regular token burns to manage supply, with verifiable on-chain records of these events.

Development and Platform Activity

MEXC Global shows consistent platform development and feature additions. The exchange regularly updates its services and maintains active communication with its user base regarding platform improvements and MX Token utility expansions.

Revenue Model Analysis

The token's economic model primarily derives value from exchange activities and does not rely on interest-bearing mechanisms. The staking rewards are based on exchange fee sharing rather than traditional interest-based returns.

Crypto Impact

To assign a comfort level investing in MX Token from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to MX Token.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

Justification for our Halal Rating