Burn Mex/xMex for use in a Store or exclusive benefits

As mentioned in the title: What if Mex or xMex could be used/burned exclusively for certain rewards or incentives? Mex/xmex would be the only accepted token and would be burned immediately. Like an xExchange store of sorts. Using xMex would give the same value as Mex with no unlock penalty but only when used in this specific use case, because the burn would eliminate that supply and later redemption and add value for all. It would give a reason to use xmex rather than just waiting to unlock/adding to egld pool or claiming early for a diminished benefit.

Example use cases:

-MultiversX physical merchandise store(obviously a real initial cost involved here could be just limited drops or taken from the proposed strategic fund that will go into voting soon): Hats, bags, mugs, shirts, hoodies and other exclusive physical merch

  • exclusive NFTs, perhaps with attached perks: an auction for a limited amount of forever xDay tickets, a permanent % boost to certain farms depending on mex paid/burned, exclusive rare MVX artwork

-raffles: ecosystem NFTs from willing partners, tokens, eGLD etc.

I’m sure others would likely have more ideas of things that could be purchased. I’m no economics expert so maybe this is a silly idea, if so perhaps some others can improve and expand on it. Main idea is adding Mex/xmex utility by giving people something of value to ‘buy’ with it and also eliminating supply at the same time driving value. Mex is the only way to purchase. There needs to be more reasons to desire Mex in my opinion. Thanks for reading!


Welcome @erd1zqklh_4hqxvv3up on the Agora!

If people can buy things with XMEX and XMEX is burned, what does the seller get in exchange?


Thanks for the welcome! i guess I’m assuming in my head since mex/xmex has a value associated, the seller could potentially get its current value in a stablecoin or egld. However the mex/xmex is exchanged in this way rather than added back into circulation.

Also, really was thinking more of not just a few physical items(mex has value which is being exchanged here. Seller sells physical item, buyer pays in mex which is swapped for stables/egld to pay seller but the mex burned) but how might value be added by the exchange too while removing circulating mex. Example an NFT that increases yields by a variable percentage in exchange for how much is burned. Since mex is locked as xmex right now to increase yield, why not permanently burn it instead of a years long lock as an option to the user. The benefit would be the value of the NFT yield increase would be tradable. Perhaps you could even have it self destruct in the same 4 year period(if possible), but now your locked mex position is tradable. These are just ideas not fully fleshed out; but I think there are ways to permanently burn mex but have the burner receive benefits or perks in return as the main idea. Perhaps others can flesh it out better or perhaps its just unworkable. Sorry if it’s unclear.

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Who provides the stables or EGLD liquidity in exchange for burned MEX, so for nothing?