OAX is an ERC20 token that’s designed to power a decentralized exchange platform that provides an order book. This aggregated book can be used for increasing liquidity and for holding collateral for asset gateways. It also has an off-chain system for resolution of disputes for optimal consumer protection. The decentralized autonomous organization is at the center of this openANX system. It is powered by the famed smart contracts technology.
There are many benefits of using the OAX platform. Risk Transparency is one of the key benefits as it provides the ability to measure risk in a measureable way that’s unique to the openANX platform. New dynamics can be created and transparency can be improved using tradable gateway tokens. The independent order books from individual asset gateway can be combined by making use of the liquid combination system provided by ANX. The advantages of both decentralized and decentralized exchanges can be enjoyed with the openANX to build a new solution that takes a middle path. This can help in addressing the changing needs of exchanges and can attract new customers.
Decentralized exchanges are going to be the way customers will be managing their assets in the future. They will only interact with the centralized exchanges for dealing in real world funds. The OAX platform can provide them the protection they need through blockchain based collateral and an advanced dispute resolution process.
The openANX Foundation’s objective is to promote the use of the openANX platform in the real world. The initial objective is to develop the openANX platform and then promote advocate transparency and governance for the platform. The Foundation will also be setting up an association comprising of members of the openANX ecosystem. It will be suitably empowered to regulate the various functionalities and recommend improvement to the openANX platform and related systems.
The openANX Foundation funded the development of the openANX decentralized exchange by issuing OAX tokens that run on the Ethereum blockchain natively. It was offered to supporters of the openANX project through a token sale. The token sale was a grand success prompting the planning of a second token sale. It will take place after the primary prototype has been developed and tested.
The total supply of OAX is 100,000,000 and the circulating supply is 25,009,250. The market cap of OAX is $14,213,857. The currency is being traded at $0.568344.
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