In a bold move that signals the evolving competitive landscape of cryptocurrency exchanges, MEXC has partnered with The Open Network (TON) to launch what might be described as the crypto equivalent of a loss-leader strategy on steroids.
The groundbreaking campaign, running from May 21 to June 20, 2025, boasts an eye-watering $1 million prize pool while simultaneously eliminating trading fees on multiple TON-related pairs—a combination rarely witnessed in an industry where fee revenue typically constitutes exchanges’ lifeblood.
This unprecedented million-dollar gambit eliminates traditional revenue streams while redefining exchange marketing in the competitive crypto landscape.
The zero-fee structure applies across TON/USDT, TON/USDC, and TON/EUR spot markets, as well as TONUSDT futures—effectively removing the traditional cost barriers to entry for traders interested in the TON ecosystem.
Additionally, the elimination of withdrawal fees for TON and USDE tokens via the TON network further sweetens the proposition, particularly for the cost-conscious trader cohort that routinely factors such expenses into their trading algorithms.
While MEXC makes this aggressive move, established players like Binance and Coinbase continue to dominate the global exchange market with their substantial trading volumes and security features.
Perhaps most striking is the staking program accompanying this fee holiday: new users can access returns of up to 400% APR on staked TON tokens—a figure that would make traditional finance professionals choke on their morning coffee.
USDE stablecoin holders aren’t left behind either, with automatic daily rewards of up to 8% APR requiring no lockup period or manual intervention.
The competitive incentives extend to active traders through dedicated reward pools: 32,500 TON tokens for spot market participants and 100,000 USDT for futures traders who complete specified trading tasks. The Press Release announcement was published on the MEXC Blog alongside other major platform news. The generous reward structure provides that eligible traders must complete trading tasks during the event period to participate in the distribution, with all rewards expected to be distributed within 10 days after the event concludes.
This multi-pronged approach creates a virtuous cycle of increased liquidity, heightened market activity, and user acquisition.
Beyond the immediate incentives, this partnership reflects MEXC’s strategic pivot toward Web3 infrastructure plays while simultaneously bolstering TON’s market position and accessibility.
The unprecedented scale of this promotion—both in monetary value and fee concessions—may well establish a new benchmark for exchange marketing strategies, potentially forcing competitors to reevaluate their own user acquisition models in an increasingly saturated market.
