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Wouldn't using egld instead of Mex increase the use of egld and achieve the same result?
No because the tokenomics are entirely different
EGLD is a scarce coin, you can only mint EGLD by securing the blockchain with Validator nodes. Mex is an elastic token, apy yield is inflationary but transaction fees burn Mex supply. So depending on market conditions, mex can either be inflationary or deflationary. Two very different tokenomics with very different usecases.