New Taiwanese Exchange Rewards Users for Token Mining and Staking From Its Fee Revenue

MaiCoin, the largest one stop digital asset platform provider in Taiwan, recently launched it's MAX Exchange.

MAX ExpansionWhile TWD fiat trading is only open to citizens of Taiwan, crypto-to-crypto pairs are now available for the global market, requiring MAX users to register with an email address for Level 1 access.

"What sets MAX Exchange apart from the competition is that customer fiat assets are stored safely and securely with a third party bank trust custodian," reported the MAX representatives to Cointelegraph.

"We are also partnering with mobile phone providers on a solution to allow MAX Exchange users to store their private keys at the semiconductor level on their smartphone so that they are always in control of their own assets".

In order to develop and support its community ecosystem, MAX Exchange will launch its native token.

150 million MAX Tokens will be distributed via a Transaction Fee Mining model.

What differentiates its TX mining model from previous iterations is that MAX incorporates a difficulty feature where mining rewards decrease as more coins are mined to slow down issuance and native tokens are purchased in the open market, the company explains.

The exchange plans to use 80 percent of its trading fees to purchase MAX tokens on the market as rewards for its makers, takers, and holders/stakers on the platform.

MAX users can stake, or lock up, MAX tokens to increase their staking power by up to five times.

History of MaiCoinThe MAX Digital Asset Exchange is an extension of the business' over the counter OTC platform, MaiCoin, which has been in operation since 2014.