MAQX Whitepaper
This whitepaper presents MAQX in full: its conceptual foundations, technical design, and role as a civic digital cash system. It outlines the roadmap, ecosystem structure, governance path, and security principles that guide MAQX toward global adoption.
0. Regulatory Positioning and Legal Disclaimer
MAQX is a memoryless, non-custodial digital cash tool. It is designed for peer-to-peer transactions, symbolic commitments, and regenerative civic actions. MAQX tokens do not represent equity, debt, or ownership rights in MAQX Labs Ltd or any affiliated entity.
MAQX is not issued as a financial instrument, deposit, or e-money under EU MiCA, securities, or banking regulations. Instead, it is structured as a utility/payment token, with value secured by cryptographic proof, user action, and protocol rules.
All fiat conversion (on-ramp/off-ramp) is conducted exclusively by licensed third-party providers who perform AML/KYC as required by law. MAQX Labs Ltd does not custody user funds, perform identity collection, or operate fiat gateways directly.
The MAQX protocol, cards, and applications are offered as tools for private, irreversible peer exchange and symbolic interaction. Users are responsible for compliance with local laws when holding or using MAQX.
This Whitepaper does not constitute financial, investment, or legal advice.
1. Abstract
MAQX is a memoryless, privacy-preserving digital cash system for true peer-to-peer exchange. It enables irreversible transactions and regenerative commitments through offline-capable protocols — without identity, mining, staking, or speculation.
MAQX rethinks digital trust. Instead of surveillance, hoarding, or extractive finance, it secures value through:
· System design: cryptographic proof and network-level guarantees.
· Memoryless privacy: no permanent identity or transaction history.
· Civic interaction: users pledge, witness, and support causes, making society itself a trust engine.
This makes MAQX sustainable and inclusive: spendable offline, human-to-human, without permission or intermediaries. It restores individual power to act, contribute, and exchange — directly and irreversibly.
2. Problem Statement
Current financial and crypto systems are extractive, identity-based, and surveillance-driven. Payment rails depend on centralized intermediaries. Crypto platforms incentivize speculation over contribution, while social platforms reward attention over trust.
At the same time, ecological collapse and widening inequalities demand new models of exchange and responsibility. State-led responses remain fragmented or politicized, leaving individuals unable to act meaningfully without permission.
MAQX was designed to restore that lost power — enabling people to exchange, pledge, and regenerate value directly. Without memory. Without intermediaries. Without permission.
3. MAQX Solution
MAQX is built on principles that make digital cash sustainable, inclusive, and civic-oriented.
Core Principles
· Memoryless & Non-Custodial – Value without surveillance, accounts, or intermediaries. No permanent identity trails or ledger accumulation.
· Offline-First – Works with MAQX Shield + App for secure peer-to-peer payments, even without internet.
· Action-Based Logic – Tokens are transferable tradable, and used as digital cash, but also gain meaning through acts: burn, witness, verify, seed. Each action encodes irreversible contribution.
· Civic Contribution – Pledge and donate mechanisms ensure that real-world causes receive continuous support.
· ZK-Proof Regeneration – Verifiable actions regenerate value anonymously, ensuring efficient and trustless rewards.
· Scalable by Design – From local, face-to-face exchanges to global civic finance.
4. MAQX Token Function
Function | Enabled? | Logic |
Hold | Yes | MAQX can be held as digital cash, with no forced loss or penalty. |
Transfer | Yes | Free peer-to-peer exchange, online or offline. |
Use | Yes | Spendable as digital cash; tokens can be committed to proofs and interactions. |
Seed | Yes | Pledge, Burn, and Witness encode irreversible civic and system contributions. |
Regen | Controlled | Regeneration is proof-based and rate-capped to ensure fairness. |
Tradable | Yes | MAQX can be listed on exchanges (LP or OTC). |
Governance | Phased | Introduced gradually as adoption grows. |
5. Use Cases
MAQX supports a simple triadic model of utility:
· Exchange circulates value – Peer-to-peer payments and private transfers work offline, irreversible, and memoryless. MAQX behaves like true digital cash.
· Holding builds potential – With a hard-capped supply and capped regeneration, MAQX strengthens as adoption grows and circulation increases. With a capped maximum supply aligned to world population, MAQX ensures broad accessibility while maintaining scarcity.
· Seeding creates global impact – Through pledges, witnessing, and contributions, users encode irreversible civic value. This sustains the system while funding real-world causes via the Pledge Fund.
6. Technical Design
· ERC-20 Smart Contract – MAQX is an ERC-20 token deployed in Solidity (OpenZeppelin framework). Tokens are held in self-custody wallets on Ethereum Layer 1 and are tradable by default on any compatible exchange.
· Minting & Supply
o The full token supply is pre-minted at inception (9B MAQX), symbolically anchored to today’s global population, with one-time ecosystem allocations for founder reserve, development pool, DAO treasury, presale, liquidity, and rewards included at inception.
o The Global Pool (8.3B MAQX) is released gradually, with 0.3B available at launch and +0.8B unlocked each year over 10 years, capped at 8.3B. Transfers from the Global Pool are automatically blocked if they exceed the unlocked allowance.
o MAQX has a hard-coded maximum supply of 9B tokens. No minting beyond this ceiling is ever possible. Together with its burnable function, this ensures long-term scarcity while allowing controlled circulation management.
o A narrow emergency minting mechanism remains in the contract. It can only be used under exceptional conditions, always within the 9B cap, and every use is transparently logged on-chain.
· Wallet-Linked Accounts – Users always keep custody of their MAQX in self-owned wallets. The MAQX App links directly to these balances and uses zk-batched transactions and gas-sponsored execution to enable peer-to-peer payments, pledges, offline exchanges, and real-world POS payments. Users can top up their MAQX account in-App, by purchasing tokens during the presale or later from live liquidity pools.
. Individual presale allocations are capped (currently 100,000 MAQX per participant) to align with AML/CTF best practices and ensure broad distribution.
· Fiat Conversion Path – Users can use their tokens freely in in-App functions, for example transferring or gifting MAQX peer-to-peer. When users wish to convert MAQX into fiat, this is done via authorized gateway partners in compliance with KYC/AML rules. MAQX Labs does not custody user funds and does not operate a redemption treasury; all fiat settlement is handled exclusively through licensed providers.
· Progressive Decentralization – MAQX will adopt a phased path toward DAO governance. Over time, DAO mechanisms will take on responsibility for development funding, user reward pools, treasury allocation, and token redemption safeguards.
All MAQX contracts are open-source and verifiable on-chain. Detailed developer documentation will be released on a need basis as the ecosystem expands.
7. Legal & Ethical Structure
· Token Classification – MAQX is a non-security utility token designed solely for cryptographic function execution and peer-to-peer exchange. It does not represent equity, debt, or a claim on the assets of MAQX Labs Ltd.
. Early Safeguards - MAQX incorporates early safeguards against misuse, including presale limits and reliance on licensed fiat partners for AML/CTF compliance.
· Regulatory Alignment – The project aligns with MiCA light registration parameters within the European Union and will remain compliant with applicable digital asset regulations in other jurisdictions.
· Exclusions – MAQX does not support staking, yield farming, passive income schemes, or any mechanisms that could classify it as a financial security. The symbolic pre-mint max supply of 9B tokens ties MAQX to global inclusivity, preventing artificial scarcity while preserving long-term stability
· Ethical Commitments – MAQX is built on principles of privacy, non-custody, transparency, and civic contribution. Founder custody of the pre-minted supply is exercised ethically with progressive handover to the DAO, ensuring user sovereignty, inclusivity, and responsible adoption.
8. Roadmap
A- FOUNDATION: MAQX Token contract deployment and Genesis mint (9B tokens). No tokens are in circulation before Phase 1
B- Phased development:
Phase 1 (0–18 months: Presale & Foundation)
225M tokens allocated via one presale contract with multiple tiers (5 months each, 1-month buffer).
Price range: €0.01 → €0.10 (USDC).
Focus areas:
1.1: Early adoption, MVP App release (burn, witness, verify).
1.2: Full App launch & MAQX Shield prototype.
1.3: Liquidity pools & fiat gateway integrations.
Purchasing During & After Presale: All presale purchases take place through the official MAQX presale contract, with fiat gateway partners facilitating fiat-to-crypto conversion. After the presale, the primary access route for MAQX will be public liquidity pools and licensed fiat providers. If any OTC sales are ever considered, they would only occur as a fallback measure and strictly via regulated banking channels under AML/CTF compliance.
Phase 2 (Years 2–6: Civic Integration & DAO Path)
Launch civic use cases: community pledges, peer witnessing, offline-first adoption.
Begin progressive decentralization: DAO-controlled treasury allocation, user reward pools, and token redemption.
Build ecosystem partnerships across finance, civic tech, and urban innovation.
Phase 3 (6+ years: Ecosystem Expansion & Third-Party Integration)
MAQX evolves into an open platform for developers, organizations, and civic institutions.
Enable third-party integrations (e.g., civic apps, symbolic economies, games) built on MAQX protocols.
Grow interoperability through licensed fiat providers and open liquidity pools.
9. Governance
MAQX follows a path of progressive decentralization, balancing early custodianship with the gradual introduction of DAO oversight and community participation.
· Regulatory compliance and AML/CTF oversight remain under MAQX Labs Ltd. until delegated to licensed partners and external compliance officers
. DAO Path – Governance powers are introduced in phases:
o Phase 1–2: Custodianship remains with MAQX Labs Ltd. and its shareholders, ensuring stability during presale and early adoption.
o Phase 3–5: Oversight gradually extends to the DAO, including treasury allocations, reward pool funding, and system parameter adjustments.
o Phase 6: The DAO assumes primary governance of system evolution, while MAQX Labs Ltd. retains upgrade authority solely for critical security.
· Fiat Conversion Licensing – Official MAQX-to-fiat conversion services (cards, branded apps, or bank interfaces) remain under the control of MAQX Labs Ltd. and its shareholders. This ensures regulatory compliance, brand integrity, and redemption reliability.
· Trademark & Branding Rights – Trademark and branding rights for MAQX Bank and related marks are owned by MAQX Labs Ltd. and its shareholders. Only licensed services may use these for fiat conversion
· Fiat Liquidity – Initial redemption liquidity is provisioned by MAQX Labs Ltd. through token sales and treasury operations, ensuring capacity for early conversions.
· Network Stewardship – The integrated MAQX card/app/bank ecosystem remains under the stewardship of MAQX Labs Ltd. and its shareholders. Any future infrastructure extensions or modifications remain within their control.
· Licensing & Control Clause – All third parties, including the DAO, must obtain explicit licensing from MAQX Labs Ltd. to operate official MAQX-branded fiat conversion services.
10. MAQX APP & Cards/Shield Interface
MAQX provides both a mobile app and an optional hardware card(s) or “MAQX Shield”, designed as a unified, minimal interaction system.
· Both app and card work offline-first with cryptographic proofs synced later.
· Functions cover payments, pledges, witnessing, and verification — mirroring the behavior of real-world cash while preserving privacy.
11. Sovereignty & Development Collaboration
MAQX is designed as a sovereign digital cash system, under the stewardship of MAQX Labs Ltd. While its core logic remains memoryless and secure, MAQX recognizes the importance of supporting long-term development and collaboration.
To encourage this, ~0.88 % of total supply (80M MAQX) is reserved as a Developer Reward Pool. This pool is managed exclusively at the discretion of the Founder, without external approval requirements.
Allocations may include:
· Grants to collaborators or partners who contribute to the MAQX app, hardware, or civic layers.
· Incentives for developers building integrations, tools, or games aligned with MAQX principles.
· Strategic partnerships that strengthen the ecosystem.
12. Security Principles, Backup & Recovery
MAQX secures trust without mining, staking, or surveillance.
· Layer 1 Security – All MAQX tokens exist natively on Ethereum Layer 1, inheriting the security of the Ethereum blockchain. No token can be forged or altered outside this layer.
· Device Exclusivity – At any time, either the MAQX App or the MAQX Card can be the active device linked to a user’s wallet. A secure handshake ensures only one device can authorize transactions until they resync, preventing double spend or replay.
· Burn & Regen Integrity – Burn locks make actions irreversible, while regen requires valid proofs and is capped to prevent inflation.
· Witness Protection – Actions that involve witnesses require thresholds that prevent single-party control or collusion.
In MAQX, security comes from structure and proof, not from accumulation, surveillance, or costly consensus.
Backup & Recovery: MAQX is memoryless by design: there are no identity-based resets, and no central authority can restore your funds.
To protect against loss, users have two options:
· Layer 1 Tokens – All MAQX on Ethereum Layer 1 remain under the user’s self-custody wallet. As long as you keep your private key safe, your tokens are secure.
· App operations are non-custodial and wallet-linked; zk-batched proofs prevent replay/rollback. If a device is lost, users reconnect a new device to the same wallet; no app-held ‘credits’ require redemption.
· Cards – MAQX cards link directly to a user’s self-custody wallet. If a card is lost, no funds are ever held on the card itself. Users can simply reconnect their wallet to a new card, ensuring balances remain safe and under their control.
In MAQX, forgetting is power — the system never stores your identity or history. But remembering your key is your responsibility.
For questions contact: info@maqx.io
MAQX Labs Ltd., Office 2, 12A Lower Main Street, Lucan, Dublin, K78 X5P8, Ireland