# MAX Exchange Token (MAX): D-Score 29/100 — Centralized Leaning

**BlockIndex D-Score: 29/100 (Centralized Leaning).** MAX Exchange Token (MAX) is a Layer 2 cryptocurrency using Other consensus. MAX Exchange Token: Taiwan-based exchange utility token for fee discounts, staking rewards, and buyback redistribution.

_Source: https://blockindex.ai/coin/max · Data by BlockIndex.AI · Updated 2026-06-19_

## D-Score breakdown (0-100, higher means more decentralized)
| Component | Score |
| --- | --- |
| Overall D-Score | 29 |
| Node distribution | 0 |
| Initial distribution | 0 |
| Governance | 16 |
| Age and history | 13 |
| Autonomy | 0 |

## Key facts
- Layer: Layer 2
- Consensus: Other (N/A)
- Launch: Other (2018)
- Founder: MaiCoin Group
- VC funded: No
- Max supply: N/A
- Circulating: 121,924

## Market data (as of 2026-06-19)
- Price: $494.38
- Market cap: $60.28M
- 24h volume: $29.65
- 24h change: -0.50% · 7d change: -7.02%

## About
MAX Exchange Token (MAX) is an exchange utility token launched in October 2018 for the MAX exchange ecosystem operated by MaiCoin Group, a Taiwan-based digital asset platform. The token is designed around exchange participation rather than general-purpose base-layer infrastructure. Its primary role is to provide benefits to MAX exchange users, including trading-fee discounts, staking-related rewards, and participation in a buyback-and-redistribution mechanism tied to exchange activity. MAX is tracked by major market-data platforms such as CoinMarketCap and CoinGecko and is categorized as a centralized exchange token.

Technically, MAX is a token rather than an independent blockchain. The DScore extraction identifies it as an Ethereum ERC-20 token with the contract address 0xe7976c4Efc60d9f4C200Cc1bCEF1A1e3B02c73e7, while the broader summary also notes Binance Smart Chain references. Because MAX does not operate its own validator or miner network, it inherits settlement and security properties from its parent chain infrastructure and does not have MAX-specific block production, mining, staking consensus, TPS, block timing, or full-node metrics. Its operational security profile is therefore a mix of smart-contract execution and exchange-side controls such as SSL encryption, offline storage for most assets, and two-factor authentication.

MAX's use cases are concentrated inside the MAX exchange ecosystem. The token supports exchange-fee discounts, staking incentives, transaction-mining rewards, and a mechanism where part of exchange fees is used to buy MAX on the open market and share those tokens with stakers and holders. This makes MAX economically closer to a venue-linked loyalty and incentive asset than to a decentralized application platform. Its ecosystem visibility comes through market listings, analytics pages, Etherscan token visibility, wallet import support, and exchange trading venues including MAX/MaiCoin-related markets and PancakeSwap references.

The documented tokenomics show a maximum supply of 500 million MAX, total supply of 285 million MAX, and circulating supply of about 66.93 million MAX. Based on the available supply figures, the circulating percentage is about 13.386% of the maximum supply, while the DScore extraction uses issued supply divided by max supply as a proxy PIP of 57.0%. Original token allocation, ICO terms, founder allocations, and premine details were not found in the supplied data. Market data in the master summary lists a price of $0.2838, market capitalization of $18.99 million, 24-hour volume of $70,100, and CoinMarketCap all-time high of $0.6824 on March 20, 2021.

Governance appears centralized and off-chain through MaiCoin Group or MaiCoin Asset Exchange rather than a DAO or token-voting system. No CEO, dedicated foundation governance, public GitHub repository, open-source license, formal roadmap, or on-chain governance process was identified in the provided data. MAX therefore should be treated as a company-associated exchange utility token with centralized operational governance, limited public technical transparency in the provided sources, and a future roadmap focused on exchange utility, trading access, staking, buybacks, and ecosystem availability rather than independent protocol upgrades.

## Links
- Website: https://max.maicoin.com/max-token
- Whitepaper: N/A
- GitHub: N/A

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About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore