Mex is the native token of Maiar’s decentralized exchange. The purpose of Mex is to provide liquidity to X Exchange. This article will explore the features and benefits of holding Mex on Maiar. We will also cover important aspects of the Mex token. So, if you are interested in learning more about MEX, keep reading!
What is X Exchange?
Maiar Exchange is a decentralized exchange built on the Elrond blockchain. It is fast, Scalable, secure, and has extremely low trading fees. Whether you want to swap, stake, farm, or get extra rewards on tokens, the Maiar exchange is the best place for you.
What is the MEX Token?
Mex is the governance token of the Maiar DEX, and the community owns 100% of it. The primary purpose behind the token is to provide liquidity for the Maiar exchange. Mex holders can stake their tokens to earn staking rewards. They can also farm the Mex to earn more rewards.
Lucian Todea, a co-founder of Elrond, states:
““Maiar DEX’s native token, MEX, follows a balanced mint and burn token mechanism; it’s a temporary inflationary token with no defined hard cap which can become deflationary if burns outpace emissions. This design allows the Maiar DEX to incentivize deeper liquidity, which is critical to the health of the AMMs.”
Why is the MEX Token Important?
The Importance lies in 3 things:
- MEX token will help to increase the adoption of Maiar DEX.
- It is the governance token of the Maiar exchange.
- It provides liquidity to the Dex.
Things to Know About the MEX Token
- MEX is essential for all the Maiar DEX operations.
- The more people buy $MEX, the more burn happens, and its value will rise as the adoption grows. The burn occurs with every swap(0.05% fee) and penalty for early farming.
- With time the total MEX tokens will decrease while their utility will increase.
- The community has a voting right regarding the token, and they have the power to decide its path.
For a detailed explanation, you can visit this Twitter thread.
Can You Farm the MEX Token?
Yes, you can farm MEX tokens at Maiar exchange farming. The APR for MEX Staking Farms is 15.44%/59.77% (locked reward).
For more details on farming and rewards, visit here.
Can I Stake MEX at the “Metastaking” X Exchange?
You can’t stake MEX in metastaking, but you can easily stake at Farms. You can visit here and see “Staking Farms” where you can stake.
Can you Swap MEX Tokens With Egld and ESDT Tokens?
Yes, you can swap Mex tokens with Egld and ESDT tokens. For example, you can swap $Mex with USDC, BHAT, RIDE, AERO, etc., available in Maiar Dex.
Total Numbers of Mex Tokens
There will be around 8 trillion tokens in the first year. To be exact, 8,045,920,000,000. To understand in detail about MEX Tokenomics, visit here.
The Mex token is the native token of X Exchange with various benefits. It helps in the adoption of Maiar, provides liquidity, and is the governance token of Maiar. You can farm and stake Mex tokens to earn rewards. I hope this article helped you to understand more about MEX. Thank you for reading!