Chapter 5: Economic Model and Points System
5.1 $MSX Token
The economic system of the MSX platform consists of two core components:
- Value and Governance Layer: $MSX Token
- Incentive and Contribution Layer: M Credit
These two layers create a circular growth mechanism:
User activity leads to M Credit generation, which is converted into platform rights or MSX token allocation, thereby driving ecosystem expansion.
The MSX token is the sole governance and incentive token within the MSX ecosystem. The total supply is ten billion units. The allocation framework is designed to balance incentives across early loyal users, active community participants, long-term team contributors, and strategic partners within the broader ecosystem.
MSX Token Utility Scenarios: Paying transaction fees, participating in platform governance proposal voting, market-making/liquidity incentives, community recommendation/points airdrops, ecological partner incentives, and regular repurchase and burning with platform fee income.
| Token Name: MSX | Description | Proportion | Quantity (Tokens) | Release Schedule |
|---|---|---|---|---|
| Genesis Airdrop | Only for the staking community users | 15% | 1,500,000,000 | 20% unlocked initially, linear release over 3 months |
| Community Incentives | Points rewards, seasonal activities | 55% | 5,500,000,000 | 8.8% unlocked initially for TGE of points rewards |
| Trading Retroactive | Retroactive rewards for pre-season trading users | 1% | 100,000,000 | 20% unlocked first, remaining linear release over 3 months |
| Team | Team members, advisors, contributors | 5% | 500,000,000 | Locked for 12 months, phased release starting from the 13th month |
| Foundation | Strategic cooperation, investment purposes | 5% | 500,000,000 | Strategic reserve, protocol governance |
| Ecological Partners | Platform cooperation, external docking | 10% | 1,000,000,000 | Investment institutions and project cooperation |
| Market and Liquidity | Market-making, repurchase, marketing | 9% | 900,000,000 | Market-making, market support, fully unlocked at TGE |
| Total | - | 100% | 10,000,000,000 | - |
5.2 Overview of $MSX Token Rights and Interests System
Trading Category (Spot + Contracts): Fee discounts, margin collateral, Maker rebate pool, combined discounts.
Maidian (Research and Analysis Sector): Subscription Reductions, Early Access Versions, Research Report Packages/APIs, Task Points.
On-Chain Initial Offerings (mIPO / mPE): Eligibility thresholds, allocation weights, active task tracks, unlocking curves, and secondary usage rewards.
Governance and Value Recirculation: Soft governance (non-financial commitment issues), public disclosure of protocol fee repurchases/burns, multi-signature, and auditing.
Exclusive Benefits: 1-on-1 customer service channel, holiday gifts, offline exclusive events, official peripheral gifts, and more benefits.
5.3 M Credit
M Credit is an internal points unit used by the platform to measure and incentivize users' real contributions. The system calculates points based on multi-dimensional behaviors such as trading activity, position value, and holding duration, profit and loss performance, and team contributions.
Functions of M Credit:
Foundation for Incentive Distribution: Determines the rewards users receive and the distribution weight of some $MSX tokens.
Certificate for Ecological Participation: Users with high M Credit can prioritize participation in tests, airdrops, and some governance activities.
Indicator of Behavioral Reputation: Provides a basis for the long-term governance and community tier system.
The system only counts real trading and position-holding behaviors, and automatically excludes abnormal accounts or those identified as engaging in volume manipulation.
5.4 Economic Closed Loop and Deflationary Mechanism
Realize the interconnection of incentives and value through the two-tier structure of tokens and points: Genuine Behaviors → M Beans (M Credit) → Rewards/Rankings → $MSX Allocation → Governance Participation → Platform Growth → New Round of Point Incentives.
To maintain the long-term value of the token, the platform will:
Allocate a portion of transaction fee revenue to repurchase and burn $MSX. The repurchase mechanism adopts a strategy of regular quarterly execution with phased adjustments, flexibly allocating proportions based on business rhythms and market conditions:
Regular quarterly execution: 15–20% of profits will be used for repurchases;
Business rhythms (e.g., seasons or launch windows): Allocation proportion of 25–30%, with an upper limit of 35%;
Flexible allocation based on market conditions: Governance can increase the proportion to ≤40%;
Utilize the ecological fund for strategic incentives and market maintenance;
Link the token release rhythm to platform growth to balance inflation and incentives.