- September
1
2025 - 5
MakiSwap Risk Assessment Tool
Platform Overview
This tool evaluates MakiSwap's current status against key indicators of a healthy decentralized exchange.
Risk Level
High Risk
Based on zero liquidity, poor token performance, and lack of active development.
Key Metrics Summary
- Active Trading Pairs 0
- 24h Trading Volume $0
- Platform Activity Stagnant
- Community Sentiment Negative
Recommendation
Based on current data, MakiSwap presents significant risks due to:
- No active trading pairs or liquidity
- Extremely low token value and poor performance
- Lack of recent security audits
- Warnings from multiple review platforms
Quick Take
- MakiSwap runs on the HECO blockchain and currently shows zero active trading pairs.
- Trading fee is 0.2% but no liquidity means swaps are practically impossible.
- MAKI token trades around $0.0029 with a 99.7% drop from its all‑time high.
- Multiple review sites flag the platform as high‑risk or a potential Ponzi scheme.
- For most users, established DEXes like Uniswap or PancakeSwap are far safer choices.
What Is MakiSwap is a decentralized cryptocurrency exchange built on the Huobi Eco Chain (HECO) that uses an automated market maker (AMM) model?
Launched in 2021 by the Unilayer development team, MakiSwap aims to let anyone swap HECO‑based tokens without a central authority. Like other DEXes, it is non‑custodial: users keep control of their private keys, and every trade happens through smart contracts.
In theory, the platform should support fast, cheap swaps, liquidity provision, and yield‑farming opportunities. In practice, as of October2025 the exchange lists no active pairs and reports $0.00 of 24‑hour volume, meaning the market is effectively dead.
How Does the Platform Work?
To trade on MakiSwap, you first connect a Web3 wallet (MetaMask, Trust Wallet, etc.) that can interact with the HECO network. After bridging funds to HECO, you can select a token pair and hit "Swap". The transaction is routed through the AMM smart contracts, which automatically price the trade based on the ratio of tokens in the liquidity pool.
The same contracts let users become Liquidity Providers participants who lock equal values of two tokens into a pool and earn a share of the 0.2% trading fee. In return, LPs receive pool tokens that represent their share and can be staked in Yield Farming programs that reward users with additional tokens for providing liquidity.
All of these actions are governed by the native MAKI token a utility token used for governance votes and fee distribution on the platform. Holders can propose changes, vote on upgrades, and receive a slice of the platform’s revenue.
Tokenomics of MAKI the native governance token of MakiSwap
Current market data (Oct2025) shows MAKI priced at about $0.0029 with a market cap of $200,153 and a circulating supply of roughly 68.97million tokens. The token has lost 99.76% of its value from its all‑time high, and year‑over‑year performance is down 3.22%.
Token distribution is heavily weighted toward early investors and the development team, leaving a small portion for community rewards. Fees collected from swaps are supposed to be redistributed to MAKI holders, but with zero trading activity, the actual flow is negligible.
Security, Legality, and Risks
Because MakiSwap is non‑custodial, users bear full responsibility for private‑key security and smart‑contract interactions. The contracts are publicly auditable, yet no recent audit reports have been published since the platform’s launch. This lack of third‑party verification raises red flags.
Multiple crypto‑review sites (WikiBit, PricePrediction.net, TradingBeast) have labeled MAKI as an "air coin" and warned of possible Ponzi characteristics. The platform’s Alexa rank sits beyond 1.4million, indicating almost no organic traffic. Regulatory pressure on unregistered exchanges has intensified worldwide, and MakiSwap operates without any licensing or KYC procedures, exposing users to compliance risk.
In short, the combination of stagnant development, zero liquidity, and negative community sentiment makes the platform a high‑risk proposition.
How Does MakiSwap Stack Up Against the Big Players?
| Metric | MakiSwap (HECO) | Uniswap (Ethereum) | PancakeSwap (BSC) |
|---|---|---|---|
| Total Value Locked (TVL) | $0 (zero active pools) | ~$30billion | ~$4billion |
| Active Trading Pairs | 0 | ~12,000 | ~5,000 |
| 24‑h Trading Volume | $0 | $1.2billion | $300million |
| Trading Fee | 0.20% | 0.30% | 0.20% |
| Supported Chains | HECO only | Ethereum + many L2s | BSC + select cross‑chain bridges |
The table makes it clear: MakiSwap offers none of the liquidity or network reach that users expect from a functional DEX. Even though its fee matches PancakeSwap’s, the absence of any active pool means you can’t actually trade.
User Experience: What You’ll Actually Face
Getting started requires a wallet that supports HECO, such as MetaMask with a custom RPC endpoint. You then need to bridge assets from Ethereum or BSC to HECO, paying bridge fees that can exceed $5 on busy networks. The platform’s UI is simple, but documentation is sparse, and community channels (Telegram, Discord) are largely silent.
Customer support is essentially non‑existent; the only listed contact method is an email address that rarely replies. Because the platform is non‑custodial, any mistake-sending funds to the wrong address or interacting with a buggy contract-means permanent loss.
For a beginner, the learning curve is steep: you must understand smart‑contract approvals, gas fees on HECO (usually lower than Ethereum but still present), and how to withdraw tokens back to a mainnet if needed.
Verdict: Should You Use MakiSwap?
MakiSwap review reveals a platform that looks good on paper but is practically dead in the market. The 0.2% fee is competitive, yet without liquidity it offers no real utility. The MAKI token’s dismal price drop and the platform’s negative reputation suggest you’d be better off allocating capital to established DEXes.
If you’re a developer looking to experiment with HECO smart contracts, MakiSwap could serve as a testbed. For traders, lenders, or anyone seeking reliable yield farming, the risks outweigh any potential upside. In most cases, the safer move is to stay away from MakiSwap until there’s a clear roadmap, fresh development activity, and demonstrable liquidity.
Frequently Asked Questions
Is MakiSwap a safe platform to trade on?
Safety is low. The platform has zero active liquidity, no recent smart‑contract audits, and multiple warnings labeling it a potential Ponzi scheme. Users retain full custody of their keys, so any mistake can lead to permanent loss.
How can I obtain MAKI tokens?
MAKI can be bought on a few smaller DEXes that still list it, or via peer‑to‑peer trades. However, the token’s price is extremely low and its market depth is thin, making large purchases difficult.
What are the fees for swapping on MakiSwap?
The protocol charges a flat 0.2% fee on every swap. Because there’s no liquidity, you’ll usually encounter "slippage" that can effectively cost you much more.
Does MakiSwap support tokens from other blockchains?
No. MakiSwap is confined to the HECO ecosystem. Tokens must be bridged to HECO first, which adds extra steps and fees.
Is there a roadmap for future development?
Publicly, the team has not posted any roadmap since 2021. Without a clear plan, it’s hard to gauge whether the platform will ever regain relevance.
About Author
I'm a blockchain analyst and crypto writer focused on turning complex tokenomics into clear, actionable insights. I examine emerging protocols, exchange mechanics, and on-chain data to help readers navigate markets confidently. I also publish practical guides on airdrop strategies and security best practices.
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stephanie lauman
September 1, 2025 AT 00:13MakiSwap is a textbook example of a high‑risk, possibly fraudulent DEX; the zero liquidity and absent audits should set off every investor's alarm bells. The platform's claim of a 0.2% fee is meaningless when you can't even execute a single swap without slippage absurdity. Moreover, the MAKI token's 99.7% drop from its ATH is not just a market correction-it signals a systemic failure of the project's economic model. Add to that the multiple red‑flag warnings from independent reviewers, and you have a perfect recipe for a Ponzi‑like collapse. Anyone still considering allocating capital here is either woefully uninformed or willfully reckless. 🚨
Twinkle Shop
September 1, 2025 AT 05:46The extant literature on decentralized exchange (DEX) architecture delineates a clear correlation between active liquidity provisioning and sustainable tokenomics; MakiSwap's current state conspicuously violates this paradigm. Firstly, the absence of any active trading pairs precipitates a nullified AMM price discovery mechanism, thereby rendering the protocol inert. Secondly, the token's market capitalization of merely $200K, juxtaposed against a circulating supply of ~69 million MAKI, engenders a perniciously low utility quotient. Thirdly, the platform's governance tokenomics, which centralize distribution among early investors, contravene the egalitarian ethos espoused by DeFi democratization. Fourthly, the non‑existence of recent third‑party security audits contravenes industry best practices for smart‑contract risk mitigation. Fifthly, the documented 99.76% depreciation from ATH underscores a systemic valuation implosion, reflective of either market abandonment or intrinsic design flaws. Sixthly, the platform's inactivity-as evidenced by a 0 TVL metric-exacerbates the liquidity vacuum, precluding any viable arbitrage or yield‑farming strategies. Seventhly, the rudimentary UI, lacking comprehensive documentation, imposes a steep learning curve on nascent users, thus impeding onboarding. Eighthly, the reliance on the HECO ecosystem, which suffers from comparatively diminished developer engagement relative to Ethereum or BSC, further marginalizes MakiSwap's competitive positioning. Ninthly, the pronounced negative community sentiment, corroborated by multiple independent review aggregators, signals a reputational risk that is non‑trivial. Tenthly, the protocol's fee structure-while ostensibly competitive at 0.2%-becomes moot in the absence of transaction volume, nullifying any revenue generation. Eleventhly, the platform's lack of KYC/AML compliance introduces regulatory exposure, especially in jurisdictions tightening scrutiny on unregistered exchanges. Twelfthly, the scarcity of transparent roadmaps impedes strategic foresight and investor confidence. Thirteenthly, the platform's infrastructural latency, owing to limited node distribution, could exacerbate transaction finality times under load. Fourteenthly, the current ecosystem dynamics suggest that capital would be more efficiently allocated to established DEXes with demonstrable liquidity pools. Finally, for developers seeking HECO‑centric smart‑contract experimentation, MakiSwap may serve as a sandbox, albeit with cautionary constraints. In summation, the confluence of these fifteen analytical vectors renders MakiSwap a high‑risk proposition unsuitable for most participants.
Greer Pitts
September 1, 2025 AT 11:20Hey folks, I get why people are skeptical-seeing zero active pools is a big red flag. If you do decide to dabble, make sure you only use amount you’re ok losing, and double‑check the contract address each time. It’s easy to get burned on these dead projects.
Lurline Wiese
September 1, 2025 AT 16:53Whoa, talk about a ghost town! I tried clicking around MakiSwap and all I got was empty screens and the sound of crickets. If they want drama, they should at least have some liquidity to feed the hype!
Jenise Williams-Green
September 1, 2025 AT 22:26Honestly, the only thing more inflated than MakiSwap’s promises is the ego of its developers. They brag about “future roadmaps” while delivering nothing but silence. If you’re looking for real opportunities, skip the hype train.
Kortney Williams
September 2, 2025 AT 04:00From a philosophical standpoint, one could argue that a platform devoid of activity challenges our perception of value. Yet, pragmatic investors must weigh tangible utility over abstract potential; in this case, the scales tip heavily toward caution.
Adarsh Menon
September 2, 2025 AT 09:33lol maki swap is like a desert with no water lol just a bunch of code and no traders lmao
Laurie Kathiari
September 2, 2025 AT 15:06It is morally indefensible to market a platform that offers no liquidity and then lure naïve users with glossy UI. Such practices border on exploitation, and the community deserves better than these empty promises.
Jim Griffiths
September 2, 2025 AT 20:40Zero liquidity, zero utility.
Matt Nguyen
September 3, 2025 AT 02:13One must consider the hidden machinations behind projects like MakiSwap; the lack of transparency may be indicative of an orchestrated attempt to siphon capital under the guise of decentralization. The pattern aligns with known vectors of covert financial manipulation.
Cynthia Rice
September 3, 2025 AT 07:46In the grand tapestry of DeFi, MakiSwap appears as a mere whisper-unheard, unseen, and ultimately irrelevant.
Promise Usoh
September 3, 2025 AT 13:20While the theoretical framework of an AMM on HECO is sound, the practical implementation of MakiSwap fails to deliver the essential liquidity substrate. Consequently, the protocol remains an academic exercise rather than a functional marketplace.
Shaian Rawlins
September 3, 2025 AT 18:53Reading through the analysis, it's clear that the community's concerns are rooted in legitimate observations about liquidity, security, and governance. If anyone is looking for a safe entry point into DeFi, it's advisable to focus on platforms with proven track records, active development teams, and transparent audit histories. That said, for developers who simply want to experiment with smart‑contract interactions on HECO, MakiSwap could still serve as a sandbox environment-provided they understand the risks and keep any test funds limited. In any case, fostering open dialogue and sharing knowledge helps all of us navigate this rapidly evolving space.
Tyrone Tubero
September 4, 2025 AT 00:26One might argue that MakiSwap's ambition is admirable, yet ambition without execution is mere rhetoric. The platform's current vacancy in the liquidity market renders it effectively non‑existent.
Taylor Gibbs
September 4, 2025 AT 06:00Indeed, the lack of recent audits and active development is a serious concern. For anyone considering participation, I recommend conducting thorough due diligence and perhaps focusing on more established ecosystems where community support and security audits are readily available.