MasterDEX
MDEX
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
MasterDEX (MDEX) has ceased active development following its acquisition by LCX, which established an irreversible one-way migration path to convert MDEX tokens to LCX. As a result, the original MDEX token is effectively deprecated. Active Development lacked measurable ongoing repository metrics and was excluded from the weighted average (redistributing its 20% weight across the other five sections). The remaining sections reflect severe fundamental risks: Community Support (1.0/10) exhibits extreme ownership concentration (98.47% held by the top 5 wallets) and an inactive governance ecosystem; Market and Use Case (2.5/10) shows negligible 24-hour volume ($12-$15) and a micro-cap of ~$346K; Team and Governance (2.0/10) suffers from anonymous leadership and minimal verified funding; Tokenomics (5.0/10) lacks deflationary or revenue-sharing mechanics; and Security and Audit History (3.0/10) reveals no verified third-party audits on Ethereum or Base contracts, alongside significant ticker name collisions with unrelated projects. Because the token has been acquired and deprecated in favor of migration to LCX, the recommended action is to avoid the legacy token.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About MasterDEX (MDEX)
MasterDEX (MDEX) is a deprecated token that ceased active development following an acquisition by LCX, which established an irreversible one-way migration path for holders to convert MDEX into LCX tokens. Prior to its deprecation, MasterDEX was designed as a multi-chain decentralized exchange (DEX) aggregator and DeFi platform integrating artificial intelligence tools. The token was deployed as an ERC-20 asset on the Ethereum blockchain and also maintained contract infrastructure on Base.
The project established a capped total supply of 300 million MDEX tokens. Self-reported distributions allocated 51% of the supply to the community, 19% to contributors, 15% to the ecosystem, and 15% to growth, subject to a five-year unlock timeline. The tokenomic framework relied primarily on standard platform perks and incentives, without native deflationary mechanisms, fee-capture structures, or revenue-sharing programs.
MasterDEX presents several structural and operational risks. Smart contracts deployed on Ethereum and Base possess no verified third-party security audits. Token distribution is heavily concentrated, with the top five wallets controlling 98.47% of the supply across approximately 758 total holders. The project also operates with an anonymous team, no formal decentralized autonomous organization (DAO) or on-chain governance infrastructure, and negligible trading volume. MasterDEX is distinct from other entities sharing the MDEX ticker, including the unrelated HECO- and BSC-based Mdex decentralized exchange.