After communicating with LaunchZone (BSCX) team, they have confirmed the BSCX burning mechanism and token migration plan, details are as follows.
1. Description of the BSCX on-chain transfer burning mechanism.
- BSCX burning mechanism goes live on August 26, 2021 at 16:06:52 (UTC+8), and a transaction tax will be charged for each on-chain transfer.
- Each transaction will be charged 10% from Aug 26 2021 08:06:52 AM UTC to Aug 31 2021 08:24:37 AM UTC, check here https://bscscan.com/tx/0x21c9a522101da2c644d3075de32bbc28f9435819be6540737b399efaff63f8a4
- From Aug 31 2021 08:24:37 AM UTC, the on-chain transaction tax is adjusted up from 10% to 20%, check here https://bscscan.com/tx/0x120577bd6292bcfd57f587f8cb4e8f59c4220f214189e17ab4286f74972c160f
* Please note that MEXC does not charge any on-chain transfer fees caused by the BSCX burning mechanism.
2. MEXC will support the LaunchZone token contract migration.
LaunchZone team has launched a token contract migration plan, where old BSCX tokens will be replaced with new LZ tokens. Details are as follows.
1) MEXC has closed BSCX deposits and withdrawals.
2) At Sept 8th 2021 2:00 AM UTC, MEXC will unlist the BSCX/USDT pair. At the same time, the system will automatically cancel all pending orders. Please cancel your orders in advance.
3) MEXC will take a snapshot of the position for all BSCX users and perform token replacement at the ratio of 1 BSCX = 1 LZ.
4) After the token replacement is completed, MEXC will open the LZ deposits and withdrawals and meanwhile list LZ/USDT trading at Sept 8th 2021 10:00 AM UTC.
1. The contract address of LZ is: https://bscscan.com/token/0x3b78458981eb7260d1f781cb8be2caac7027dbe2
After we replacing the old BSCX with the new LZ tokens, please do not deposit any BSCX tokens to MEXC, otherwise the asset will be lost and cannot be recovered.
2. Please be aware that the new $LZ token also have the deflationary mechanism. Every transaction of $LZ incurs a 6% tax: 2% to add liquidity to pool, 2% for marketing, 1% to be burned, and 1% to be sent to the foundation wallet.
BSCX&LZ Official Announcement:
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The MEXC team