MAX project developed by MaiCoin group combines a digital asset with the same name and a fiat-to-crypto exchange. In fact, this is the first and the largest platform of this type in Taiwan. What’s more, people from the United States and other countries can also create accounts and trade on MaiCoin MAX. The project itself was launched in 2018 and has been successfully operating ever since that date.
MAX MaiCoin is a part of MaiCoin Group. It is a legal digital asset trading group employing innovative technologies such as blockchain. The company was founded much earlier in 2013. At the moment of writing, it includes a number of different organizations such as MaiCoin, MAX and AMIS, Qubic NFT and MaiCapital.
One of the features that the MAX MaiCoin exchange can truly boast of is low trading fees. Just like many other similar projects, the platform uses a maker-taker model to calculate trading fees. Therefore, commissions differ for takers and makers. Fees also depend on the amount traded. At this, the maximum commission for takers equals only 0.15% and 0.05% for makers.
In addition, MAX MaiCoin relies on a multi-signature cold storage system to ensure the security of end-users’ funds. Since the majority of funds are kept offline, hackers have practically no chance to access them.
Besides, MAX MaiCoin allows users to trade crypto at any time with their API system. Developers have a rich set of API tools at hand which makes it possible to integrate the functionality of the platform into other projects. Finally, MAX MaiCoin has Bug Bounty Program for users who report any vulnerabilities they find in the system. Such users are eligible for monetary rewards, which are paid in USD or TWD.
MAX MaiCoin API
MAX Exchange has released a RESTful API to provide programmable methods for users of the platform to trade automatically. At this, the JSON format is used in communication between every request and response through the API. If a request is successful, MAX Exchange returns HTTP 200 response in JSON format. The API of the platform includes both public and private versions. In order to get access to the private one, users have to create an account, pass verification and get their secret keys.
MAX MaiCoin Token
The platform is fueled by its native token MAX. This is an ERC-20 utility token running on the Ethereum platform. Its key goals are to share the economic benefits of trading with MaiCoin’s users, to create a mechanism for trading discounts, and to encourage the growth of the MAX ecosystem in general. It is issued only by MaiCoin Asset Exchange and is available for purchase on the same platform. As for the wallets, the coin can be stored on any wallet compatible with Ethereum such as Metamask, Coinomi, MyEtherWallet, or hardware wallets such as Ledger Nano or Trezor.
Instead of conducting an ICO, MAX MaiCoin distributed the first supply of MAX Tokens through transaction mining from 2018 to 2019. The number of issued tokens was close to 60 million tokens at that time. In November 2019, more than 90 million MAX tokens were allocated to the transaction mining program. 50 million tokens were burned in May 2020 which means that they were removed from the total supply of MAX Token with no possibility to access them further.
In addition, holders of MAX tokens can stake them on the platform and get yield from that. MAX Tokens, which are generated from trading fees through open market purchases, are periodically airdropped to holders. The number of airdropped tokens a user may get depends on the ratio between his or her Staking Power and the total Staking Power on the MAX MAiCoin platform.
Besides, the MAX MaiCoin platform has a system of Ageing Boost. It increases the Staking Power of tokens depending on how long they have been staked. It’s also worth adding that all tokens at stake restart their aging process from 0 if one of the tokens is “unstaked’’.
The MAX MaiCoin team
As mentioned earlier, MAX MaiCoin is a part of MaiCoin Group. The CEO of MaiCoin is Alex Liu who graduated from Stanford University. From 2002 to 2008 he was a Business Development Manager at Atheros Communication. After that, Alex Liu was a Product Marketing Manager at Samsung Electronics and Director of Marketing at Qualcomm where he gained solid experience in managing serious projects. In December 2013, he became CEO of MaiCoin. In addition, at the moment of writing, Liu is also CEO of AMIS Technologies.
Yu-Te Lin takes the position of VP Engineering at MaiCoin Group. He got his Master of Science degree in Computer Science at Stanford University. Before starting his work at MaiCoin, Yu-Te Lin worked at such IT giants as Oracle and Dell. He also worked in such companies as TunesAccess and Everyday.me. From 2014 to 2015, he was a Director of Engineering at MaiCoin, and in 2016, he became VP of Engineering. In addition, Yu-Te was hired as VP of Engineering at AMIS Technologies in the same year.
The Chief Operating Officer at MaiCoin is Ming-Hui Chen. She joined the MaiCoin team in 2018 and worked for Fubon Financial Holdings as the head of blockchain-related business in the Innovation and Technology Office. Ming-Hui Chen is responsible for the operation and team management at MaiCoin.
An interesting fact is that the company has managed to attract some qualified advisors to boost the project. At this, its advisors were Vitalik Buterin, the co-founder of Ethereum, Charlie Lee, the creator of Litecoin, and Ken Wilcox, the Former Chairman of Silicon Valley Bank.