MXC launched a voting campaign for whether to burn the 245,568,421 MX token hold by MXC ecosystem fund and investor protection fund on March 5. The voting result showed that 96% users agreed to burn them. Therefore, MXC has burnt the 245,568,421 MX token. The details are shown below:
The burnt address:
The remained MX token after burnt: 678,825,498.34 MX
The current circulating amount: 198,139,956.46 MX
Locked MX Token details:
FET locked 30,685,541.88 MX Token
The team allocation of 450,000,000 MX Token is locked
The MXC team made the promise that no matter when the team allocation to be unlocked, they would never enter the market for circulating. They will be included in MXC Buy-back & Burn Scheme, and will be repurchased & burnt with the development of MXC.
MXC will keep the Buy-back & Burn Scheme that it will use 100% profit from trading fee to buy back MX token from secondary market and burn them each month until the total supply decreased to 100 million.
March 7, 2020