MX Token (MX): D-Score 24/100 — Centralized Leaning BlockIndex D-Score: 24/100 (Centralized Leaning). MX Token (MX) is a Layer 2 cryptocurrency using PoS consensus. MX Token: ERC-20 exchange utility token offering fee discounts, launchpad access, staking, and governance utilities. Source: https://blockindex.ai/coin/mx · Data by BlockIndex.AI · Updated 2026-06-19 D-Score breakdown (0-100, higher means more decentralized) Component: Score: Overall D-Score: 24: Node distribution: 0: Initial distribution: 0: Governance: 11: Age and history: 13: Autonomy: 0: Key facts - Layer: Layer 2 - Consensus: PoS (N/A) - Launch: Other (2019) - Founder: Sheen Xin Hu; Aaron Wagener; Piotr Brzezinski - VC funded: No - Max supply: 413,787,834 - Circulating: 91,837,334 (22.2%) Market data (as of 2026-06-19) - Price: $1.75 - Market cap: $161.17M - 24h volume: $6.2M - 24h change: -2.24% · 7d change: +3.12% About MX Token (MX) is the native utility token issued by the centralized exchange MEXC (formerly MXC Exchange). Launched in 2019 as an ERC-20 token on the Ethereum mainnet and backed by a corporate entity registered in Seychelles, MX functions primarily as a platform utility asset that enables fee discounts, priority access to token launches and launchpad events, participation in staking and MX-DeFi-style programs, access to M-Day activities, and limited voting rights related to exchange listing decisions and certain platform governance choices. The token is embedded in MEXC’s product stack and supports a buyback-and-burn mechanism in which a portion of trading fees is periodically used to repurchase MX from markets and burn the tokens, a policy described in platform narratives as deflationary and designed to support long-term holder value. MX has been tracked across market data aggregators (CoinMarketCap, Messari, CryptoCompare) and audited by third-party security firms, with SlowMist and Hacken referenced in the provided source materials. Technically, MX is a standard ERC-20 token and inherits Ethereum’s security model; it is therefore dependent on Ethereum’s Proof-of-Stake consensus and ecosystem tooling rather than maintaining its own validator or miner network. As a token, MX does not have native block or chain metrics such as block time, block rewards, or UTXO structures; those values are not applicable. The token contract address is published in the sources and the project is visible across centralized exchanges and Uniswap liquidity pools. Governance for MX is exchange-led and primarily off-chain: while token holders can exercise certain votes and privileges on MEXC (launchpad participation, listing votes, and internal platform elections), the operational control and major decisions remain with the company and the MXC/MEXC Foundation referenced in documentation. Open-source code links and a formal whitepaper were not provided in the compiled materials, and allocation details such as premine or explicit PIP percentages were not documented in the provided files. From a tokenomics perspective, public snapshots in the provided data present inconsistent total and max supply figures across sources but a common snapshot shows circulating supply at ~92.45M MX and a max/total supply reported around ~411–414M MX (different files show 411.2M, 413.78M and historical figures of 450M in older records). Market snapshots cited a price near $2.03 and a market capitalization near $188M at the referenced snapshot, with historical all-time high and low data included (ATH $5.85 on 2024-04-09; ATL $0.04206 on 2019-11-25). Holder counts were small relative to supply (single-thousand holder counts reported by market aggregators), reflecting concentrated listings and exchange custody typical of centralized-exchange tokens. The materials also reference MEXC growth milestones (userbase expansion to ~40M users as of mid-2025) and ongoing product development (MX-Chain mainnet and Mx-Chain Go releases mentioned in late 2025 timelines), indicating continued platform investment and potential demand drivers for MX utility. Governance, compliance and security signals are mixed but include positive operational attestations: corporate registration in Seychelles, reference to an MXC Foundation, audit references to SlowMist, and proof-of-reserves reporting by Hacken for the exchange. There are no documented on-chain security incidents specific to MX in the provided materials. The governance model is centralized (exchange-led) with token-based utility voting rather than an on-chain DAO. Several DSCORE-critical items remain absent from the provided dataset (explicit premine/PIP figures, token decimals, chain ID, detailed allocation/vesting terms, and node-level metrics which are handled by a separate Node Tracker agent). Taken together, MX is best described as a classic CEX utility token—ERC-20, exchange-operated, with marketplace utility baked into MEXC products and corporate oversight that shapes its governance and economic behavior. Links - Website: https://www.mexc.com/ - Whitepaper: N/A - GitHub: N/A --- About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore