Tokenize Xchange
TKX
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
TKX (Tokenize Xchange) is the centralized utility token for a Singapore-based cryptocurrency exchange established in 2017. The evaluation reveals several structural weaknesses across core areas: while the company maintains an active operating business (shipping Tokenize Y in February 2025) and has established verifiable security measures including a December 2023 Hacken audit, an active HackenProof bug bounty program, and clean ERC-20 token contract mechanics, significant risks persist. The token suffers from extreme concentration risk, with top non-exchange holders controlling over 75% of supply (and top 10 addresses holding up to 99%), accompanied by a severe 10x supply discrepancy between project claims and market trackers. Trading activity is critically illiquid (~$1K-$3.3K daily volume), with highly conflicting price and market cap metrics across aggregators. Furthermore, community support and governance participation are minimal, and there is a marked discrepancy between promotional DEX claims and its actual centralized corporate structure. No qualifying catastrophic red-flag event was affirmatively established, but fundamental risks keep the score subdued.
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 Tokenize Xchange (TKX)
TKX (Tokenize Emblem) is the native utility token for Tokenize Xchange, a centralized digital asset exchange founded in 2017 and headquartered in Singapore. Deployed as an ERC-20 token on the Ethereum blockchain, TKX is primarily designed to provide trading fee discounts, staking features, and platform-related utility within the Tokenize Xchange ecosystem. The operating entity is led by founder and Chief Executive Officer Hong Qi Yu and has received institutional support, including a 19% equity acquisition by Kenanga Investment Bank in February 2021 as well as backing from Animoca Brands.
From a technical and security perspective, Tokenize Xchange's smart contract on Ethereum features standard parameters without minting functions, honeypot mechanics, blacklist controls, or transaction taxes. The platform underwent a third-party smart contract and web security audit by Hacken in December 2023 and operates an active bug bounty program on HackenProof that awards bounties in TKX tokens. On the product side, the company introduced Tokenize Y in February 2025 and announced plans for tokenization services scheduled for late 2026.
The project faces notable structural, governance, and market data concerns. Although marketed in some materials as having decentralized exchange features, Tokenize Xchange operates under a centralized corporate structure without verified decentralized autonomous organization (DAO) or on-chain governance mechanisms. There is a material ten-fold discrepancy between self-reported total supply figures (one billion) and independent market tracker tracking (100 million). Furthermore, the token exhibits extreme supply concentration, with major non-exchange holders controlling over 75% of the supply and the top ten addresses holding up to 99%. Market listings also show severely conflicting pricing and market capitalization figures across aggregators, compounded by low daily trading volume ($1,000 to $3,300), which introduces substantial liquidity risk alongside unresolved media commentary concerning past platform trading and withdrawal operations.