MXC Foundation
CEO Xin Hu
10/11/2022
Dear MXC Supporters,
The crypto world is currently facing some tumultuous times. With the current market conditions and uncertainty within the market, I’d like to offer my words of how MXC is ensuring your security during this time. From day one, the MXC Foundation has stood for corporate responsibility, transparency and user security. Here are some of the facts as to what we are actively doing to ensure your MXC and your mining network contribution remains safe and secure.
Firstly, I want to state that we have undergone a number of measures to ensure user safety, this has been our goal since launch and will continue to be, whether bear or bull markets, because our supporters are at the forefront of our vision and the cornerstone of our movement.
The MXC Foundation DataDash App, currently stores over one and a half billion (1,500,000, 000) MXC tokens, that’s over 50% of all MXC and we take that security seriously. The MXC stored on DataDash is secured, but not just by the MXC Foundation itself, we’ve also enlisted a second layer of user security via Cobo Custody. Cobo is Asia-Pacific’s largest crypto custodian. Trusted by over 300 institutions and HNWIs to grow and protect their crypto assets, the company focuses on building scalable infrastructure and powering the Web 3.0 revolution around the world. The Cobo Vault offers industry-leading security against both hacks and damage. It features an open-source, FIPS 140–2 secure element and a self-destruct function.
We believe taking these steps to secure your MXC will ensure users feel safe and continue to trust the network and infrastructure we have built.
Furthermore, the MXC Foundation tokens that are stored in the DataDash are not traded, we do not crypto leverage your tokens, instead you store your tokens on the network, to access at a time you wish to. We do not believe in leveraging user tokens, this ensures we reduce our exposure to all-round market negativity and increase the stability of our global project.
The MXC Foundation has at no time had any direct or in-direct ties to FTX and the current situation that is unfolding. The MXC token has no ties to Alameda or the Solana network and has never invested, never used a network nor has any vested interest in either project. MXC was never tradeable on FTX and, due to the way we have designed our mining infrastructure, we have uniquely done this to ensure MXC tokens go to the DataDash wallet, to offer security before miners choose to either stake, bond or lock their tokens within DataDash, or take them to externally, to a less secure environment.
Our dedication towards our cause remains steadfast, with a number of new hardware products, Functional NFT’s, as well as the grand launch of the worlds largest decentralized Web3 data network all arriving in 2023. We firmly believe the MXC Foundation is on the cusp of a true data and blockchain revolution.
I sincerely thank all of our supporters in their belief, support and unwavering commitment towards this continued mission we all share together. We look forward to delivering one of the most exciting Web3 experiences to our users in 2023.
Kind regards,
Xin Hu
MXC Foundation CEO
