At present, the overall crypto market is going down, and there is a consensus being reached: in bear markets, do not touch any kind of altcoins or shitcoins. Instead, you can appropriately get your hands on platform tokens from leading platforms and other mainstream cryptocurrencies. This is because these platform tokens and mainstream cryptocurrencies are more likely to safely survive the bear market, while other shitcoins show a lot of uncertainty.
Invest in platform tokens because they have already been officially launched, and they have practical use case scenarios as well as a closed-loop business system compared to other tokens. From the stock market investment logic, every time the market turns bullish, securities stocks are the first to emerge. The trends of platform tokens through several rounds of bear and bull markets in the past have also confirmed this statement. Whether considering the preservation of assets or preparing for high returns, choosing to invest in platform tokens is undoubtedly the most preferred choice for many investors.
More and more people are choosing to hold platform tokens, so am I. The following is an example of MX, the platform token of the leading exchange, MEXC Global. I am going to share my experience of holding this platform token for a month. Other than the price increase, there are also additional returns from airdrops.
Let’s start with a brief introduction to MEXC. I believe that many people are familiar with this leading exchange. It is a user demand-driven platform that quickly selects high-quality projects based on users’ trading needs and feedback. All mainstream concepts, trending spots, such as major public chain ecosystem projects, as well as DeFi, NFT, Layer2, Metaverse, GameFi, DAO, and others, can always be found on MEXC first. MEXC has brilliant performance in the spot market, with fast token listing, an eye for hot projects, and good service. Many users regard MEXC as “the Next Binance”.
At present, MEXC and Bybit are cooperating to reach the global masses. MEXC’s popularity and structure are much higher than the market value, and the use case scenarios of the platform token MX are becoming richer and richer. There are currently four main ways to “hold MX and earn interest” on MEXC Global: Launchpad, Kickstarter, M-Day, and MX-DeFi. Today we’ll focus on Kickstarter’s earnings.
The official website of MEXC Global introduces Kickstarter in this way: The ‘Kickstarter’ event is an activity during the pre-launch stage of a project in which the project initiates voting for the launch on MEXC and then airdrops its tokens for free to all successful voting users. If the set goals are not met, MEXC will cancel the listed project and unlock the voting token. This event is designed to attract more premium projects to list on MEXC and provide free airdrops to MEXC users.
The most common understanding is that on MEXC Global, users that hold and stake MX in the voting stage before the project listing can obtain the project token airdrops for free. Voting does not consume MX, so it’s suitable for those who want to simply gain some returns, they can participate in Kickstarter. As long as the price of MX remains unchanged, investing in these tokens will lead to a steady profit margin. When the market condition recovers, there will be a good return on the dividends and airdrops.
According to the incomplete statistics, 67 MEXC Kickstarter projects were launched in January 2022. Excluding the overlapping participation time of some projects, the total expected revenue is about 245.65U based on the input of 1,000 MX for each project. When considering the month of January, no Kickstarter activities were launched in these four days (2nd, 7th, 8th, and 9th of January), and the monthly revenue was converted to 282.04U.
According to the public market, the average unit price of MX in January was about 1.72U/token. The cost of 1,000 MX is about 1,720U, and the monthly ROI of Kickstarter reached up to 16.4%.
The above is for sharing purposes only, and the exchange does not constitute any investment advice. The statistics are for reference only and are subject to the actual settlement.