Hello xExchange Team !
Please look at the photo attached .
Acording to the photo ( the title says ,MEX Stats ") , taken today 27.07.2024,we currently have :
43.362.714 $ - total value locked
17.779.355 $ - market cap
0.0000041 $ - price per MEX
I assume the total value locked means XMEX , which is MEX locked . Therefore , if we divide the total value locked by the price of MEX , we get 10.576.271.707.317. = 10.5 trillions
Now , the market cap I assume is for MEX and therefore , if we divide the market cap by the price of MEX we get 4.336.428.048.780 = 4.3 trillions .
Now , with this numbers , what can you tell me about the total supply of MEX ? MEX = XMEX .
I used the word , assume " twice , i’m only trying to understand the tokenomics here . It seems like a black hole from my point of view . So please , if you can make some light about the total supply of MEX , the total MEX coins that were ever minted and the total of MEX which is being locked ( XMEX ) ,i will be grateful to you .The community will be grateful .Thank you in advance !
Hey @victoor ,
In the currently live version of xExchange, “Total Value Locked”, “Volume” and “Trading Pairs” are not information related to MEX itself but more to xExchange.
In v3, we will remove those from “MEX stats” and on the MEX token page you will also be able to see the circulating supply.
Hello ! So xExchange V3 is live . I will attach the photo , please regard it . From the ,MEX Stats " we get the following :
Market cap : 14.160.702
USD per MEX : 0.000003
results : 4.7 trillion MEX
Well you guys deceive investors by showing only MEX and not also the XMEX which is the same token . Please provide us with the full information regarding MEX ! You promised that this will be available in XV3 .
Yeah if you do the calculations it should be more than 8.5 trillion mex minted already. I don’t know if all of them are in circulation though. The team has to give clear number on this, since coinmarketcap is not showing it as well.
A suggestion to the team is to create a stable coin and print stable coins instead of mex. Mex inflation is only bringing down the price and its diluting investors value of investment, so the team should find another way of minting, in case they need capital. A stable coin by MultiversX team is a good idea in my opinion. It seems like it’s what hatom is doing. They are not deluting HTM token value with inflation. Instead they are launching a stable coin that can be minted if they need more of it.
xExchange team ? I am waiting for a response regarding this please .
Please point out to the message where we promised because I don’t think it happened.
Displaying more information on the MEX / xMEX supply is indeed something important. We have this on our list. 
Gladly . It is literally your response. , In V3 … "
I don’t want to spoil the surprise but V3 is live .
Also I don’t want to be rude but for me personally , all the immense work towars only changing the UI/UX and nothing on the utility of the MEX it’s somewhat enraging .
Also if you would allow me , mate you got it all wrong and if you continue this path , you will destroy the xExchange . I listened your podcast today on X . How could you possibly say that you are moving the attention away from MEX ( the heart of the Exchange literally ) and focusing on other things . How ? In what universe the attention is not on the token powering the exchange ?? More utility for MEX ! More attention on MEX ! More pressure on MEX ! More burning mecanisms on MEX ! We are screaming this for the past year and now you come and say those things ? How can you ? When you should be breathing , screaming , eating MEX 24/7 ! The head of xExchange !
Please excuse me if my aproach is not diplomatic , I stopped being diplomatic because things are getting out of control .
Hey @victoor ,
In the message you are quoting, I just said that in v3 the information in the red frame will be removed (which is the case) and that you will be able to see the circulating supply of MEX in the MEX token page (which is also the case):
That’s everything I said. If you want the supply of LKMEX and XMEX too, the request is noted and we will see how to add it.
Regarding the podcast, I’ve never said I don’t care about MEX utility. That’s the complete opposite. I eat MEX 24/7. I’ve just said the following:
- The indirect objective is MEX utility
- The direct objective is to make xExchange the best exchange
If we are directly focused on MEX, we are going to take decisions that looks good on the short term but are bad (for xExchange and MEX) on the long term. For example:
- You might be tempted to increase the trade fee, as it will directly generate more revenue and more burn, but it will also dissuade people from trading on xExchange, which is bad on the long term.
- You might be tempted to stop all rewards distribution to liquidity providers because it creates selling pressure, but it will also dissuade people from providing liquidity, etc.
If we are focused on xExchange first with MEX utility as an indirect objective, then you might do the following:
-
Change the fees collector such that all fees are used to buyback and burn MEX, from all trading pairs (which I proposed on May on X already). It doesn’t negatively impact the trading and improve MEX value.
-
Improve the liquidity (e.g. concentrated liquidity) such that you need to pay less in order to get the same quality of liquidity
That’s all I said in the podcast. I’m all for MEX to have more utility. We should just be careful on the way to do it, and it should be improve the xExchange and reinforce the value through this improvement.
In the podcast, I’ve also said that moving forward we will tie all improvements closely with an increase of utility to MEX.
Hope it clarifies the situation We are all in this together and the main reason I don’t want to be more concrete for the moment is to avoid promising things in advance.
Thanks Lucas. These goals are legit. Hopefully they can be released at the right time and with the right amount of safety as well. But we trust in the team that you will deliver.
And how can you possibly “accuse” the Head of xExchange of this?
This is an indirect quote, not even a direct quote, and I bet 100$ you put it out of context.
I could not listen to the space unfortunately, because that total idiot GRM blocked me, however I am very sure Lucas said that in a context of design aspects and why xExchange was designed this way and to explain the shift away from Energy/MEX focus and more about usability.
I am so very sure.
This comment of yours is without content and instead just fueled by anger and hatred. This has no place on agora.
Yes , you are right . It was all in my mind . I wrote the message just for fun and to get attention .
I’m so happy that you didn’t even participate but somehow you know what was disscused , we need more people like you !
We are going mad people…
And for Lucas , Thank you for the elaborate response . I apreciate it . I really hope that all you said is true and there is no hidden agenda . I will rest for now but don’t think for a second that this is only honey and sugar , we are a long way from that . To understand my rage is to understand the fact that I care for this project and I’m here since the beggining of Elrond . In the last 6 months , 4 friends quit the MultiversX Ecosystem , I see people leaving this project on some very good reasons , I chose to stay . But staying it’s not the same thing with staying silent and I will not for sure stay silent and see how a project dies .
I understood the need of building a solid foundation in order to build a ,skyscraper " . The next couple months are vital in my oppinion . Good luck !