OAX Price

OpenANX (OAX) is an ERC-20 compliant membership token developed on Ethereum blockchain and can be exchanged for memberships in Decentralized Autonomous Organizations and /or its associations. The objective of OpenANX platform is to create an efficient decentralized exchange that will be transparently governed and open source. Three key technologies are being used by OpenANX platform i.e. Whisper (a communication protocol to broadcast the orders on Ethereum), Ox (allows ERC-20 tokens to be tradedShow more [+] on ETH blockchain) and Sprites (a developing technology to decrease transaction costs and increase the transaction speeds). The OpenANX solves the problem of centralized exchanges which have many flaws such as security status, lack of transparency and higher trading costs. The OpenANX platform is governed by the decentralized autonomous organization (DAO) which significantly improves the liquidity and trade volumes.

The members at OpenANX platform are entitled to certain privileges such as voting rights on major operational decisions and commercial solicitation of services (escrow, credit, legal, asset gateway). There are different memberships offered for the relative number of OpenANX tokens submitted. The memberships are a participant member (wholesale/retail traders accessing the platform for transaction purposes), voting member, founding member (suggest topics for upcoming voting discussion), the third-party service provider (KYC, trading system, legal etc), and asset gateway member (token exchange).

The OpenANX platform runs under the OpneANX foundation, a non-profit organization. The OpenANX was co-founded by Ken Lo (CEO), Hugh Madden, Dave Chapman, and David Tee. The team consists of 10 other members from various departments including software engineers, technology advisors, strategy advisors, and finance.