MAX Exchange Completes Second Burn of 50 Million MAX Tokens (10% of Total Supply)
MaiCoin Group’s digital asset exchange, MAX, announced today that it has completed the second scheduled burn of its native token, MAX Token (MAX). At press time, MAX Token is trading at 0.105 USDT on the MAX exchange. According to the official press release, approximately 50 million tokens were destroyed in this burn, accounting for 10% of the original total supply, equivalent to roughly 150 million New Taiwan Dollars (about $5 million USD).
For context, the first burn in November 2019 removed over 90 million MAX Tokens. MAX Token was launched on October 18, 2018, to provide Taiwanese users with a local fiat-to-crypto matching service using New Taiwan Dollars.
Burn Mechanism Aims to Enhance Token Scarcity
As a platform token, MAX Token is built on the concepts of “community sharing and lock-up acceleration.” It can be used to offset trading and withdrawal fees, while the exchange periodically airdrops trading fees back to the community to encourage organic circulation. This burn reduces the circulating supply, thereby increasing scarcity and mitigating the risk of low-price dumping in the future.
MAX Exchange founder and CEO Alex Liu previously stated that the burn mechanism would bring positive benefits to the overall community and ecosystem. The exchange emphasized that the burn does not affect the reward distribution for lock-up participants.
Lock-Up Stakers Continue to Receive 30% Fee Rebate
Following Bitcoin’s third block reward halving in May, MAX Exchange assessed market conditions and decided to burn a portion of its platform tokens to drive positive market sentiment. As noted, MAX Token lock-up stakers can earn up to a 30% fee rebate. The exchange confirmed that this burn will not alter that reward mechanism.
AI Investment Strategy Launching May 25 with 100,000 USDT Pool
Concurrently, MAX Exchange announced it will list the Bincentive investment strategy on May 25, opening a 100,000 USDT fund for all users to subscribe, with a minimum subscription of 1,000 USDT per person. CEO Alex Liu emphasized that MAX acts only as a neutral platform. Given the 24/7 nature of crypto markets and rapid price fluctuations, users often fail to follow trends or set stop-losses in time. Therefore, this strategy will rely on artificial intelligence (AI) to determine entry and exit points, helping clients achieve stable profits in the spot market.