MAX Exchange, a digital asset platform under Taiwan's MaiCoin Group, announced on June 20 that it has completed its second scheduled burn of its native token, MAX Token (MAX). As of press time, MAX Token was trading at 0.105 USDT on the MAX exchange. According to the official press release, this burn accounted for approximately 10% of the total initial supply, i.e., 50 million MAX tokens were permanently removed, equivalent to about NT$150 million.
Second Burn of MAX Token: 10% of Total Supply Destroyed
Launched on October 18, 2018, MAX Token was created to provide Taiwanese users with a local service enabling real-time fiat-to-crypto matching. The first burn took place in November 2019, when over 90 million MAX tokens were destroyed. MAX Token is designed as a utility token for the MAX exchange, embodying two core principles: “community sharing” and “staking acceleration.” Holders can use it to offset trading and withdrawal fees, and the platform also airdrops a portion of its trading fee revenue back to the community. This burn reduces the circulating supply, enhancing token scarcity, and is intended to prevent potential low-price dumping in the future.
Impact on Users: Lock-up Rewards Unchanged
In May, Bitcoin experienced its third block reward halving. After evaluating market conditions, the MAX team decided to burn part of its platform tokens to stimulate positive market dynamics. By reducing the release of new tokens, the mechanism is expected to bring positive effects to the community and ecosystem. Users who stake MAX Token in the lock-up program will continue to receive up to 30% rebate on trading fees. The exchange specifically stated that the burn does not affect the rewards earned by lock-up participants, so users can rest assured.
New Feature: AI Investment Strategy Launching Soon
Meanwhile, on May 25, MAX Exchange will launch a Bincentive investment strategy, opening 100,000 USDT for all users to subscribe, with a minimum subscription of 1,000 USDT per person. The exchange's CEO, Alex Liu, emphasized that MAX serves only as a neutral platform. Given that the crypto market operates 24/7 with rapid and volatile price movements, many users struggle to keep up with trends or stop losses in time. Therefore, this investment strategy will be powered by artificial intelligence (AI) that determines entry and exit points, helping clients achieve stable profits in the spot market.