Since the foundation of the OAX Foundation, the platform has prioritized encouraging the technology that allows digital assets to thrive. While roadmaps and deadlines are continuously shifting, the OAX Foundation believes that work should be presented with transparency to ensure that it is being led in the proper direction and with community input.
About OAX
The OAX Foundation feels that DeFi is an important part of the digital asset journey and has been working to assist its development. DeFi retains the industry’s promise and will open doors to many future features, thanks to work on features for the Polkadot Network and collaboration with like-minded industry institutions.
The investigation of technologies, from decentralized or centralized exchanges through the days of ICOs and STOs and the sprouting seeds of DeFi, requires pioneers in the sector to work together to overcome these difficulties. Through tools, technology, applications, and community support, the OAX Foundation attempts to give support in this sector.
What Is OAX?
The OAX platform, on which the OAX runs, is a decentralized market exchange that strives to bring together the greatest characteristics of centralized and decentralized exchanges. Because they’ve realized that not everything on a decentralized exchange can be decentralized, OAX is taking a hybrid approach to their decentralized exchange. They acknowledge that decentralization is advantageous in terms of transaction transparency.
The OAX token is the platform’s native crypto, and it’s used to enable membership tiers. The coin was released as part of an initial coin offering (ICO) that began on June 22, 2017, and finished on July 21, 2017.
Who Are The Founders Of OAX?
The OAX team has 4 co-founders.
Ken Lo, the CFO of ANX International and co-founder of OAX, is a business strategist with over two decades of experience working for organizations like Accenture and Verizon. He has also worked in the blockchain industry for the past six years.
Hugh Madden is the project’s second co-founder, and he is credited with establishing the project’s concept. His main area of expertise is cybersecurity, and he started his own security services company at the age of 16. He worked for financial services organizations AXA and HSBC before co-founding ANX International.
Dave Chapman, who is also the COO of ANX International, is the third co-founder of OAX. He has worked for Barclay’s, ABN AMRO, and HSBC and is a specialist in financial services.
David Tee, the final co-founder, has over 25 years of experience in corporate finance, with expertise in mergers and acquisitions, private placements, restructurings, equity, and debt financing.
What Makes OAX Unique?
OAX makes sure that the platform never has both asset keys for a transaction. Instead, it was built to only hold one of the two at a time, drastically lowering platform risk.
These Asset Gateways will take fiat currency into custody and mint ERC-20 tokens in the same quantity. These tokens aren’t general; instead, they’re unique to the exchange. The OAX Swap, for example, would exchange USD for OAX/USD tokens.
The exchange follows Know Your Customer guidelines, and before receiving funds or issuing tokens, the Asset Gateway will seek a KYC service from the customer via a KYC smart contract. The gateway can only release tokens to the user if the KYC requirements have been met.
Users will be able to trade “Credit Risk” or support credit risk from other platforms’ order books–a huge development for the OAX platform. This will enable platform tokens to be traded against one another, forming the foundation of a credit risk transaction in crypto markets. The OAX/USD coin, for example, might be traded against the BNB/USD coin.
Where Can You Buy OAX?
If you’re looking for a place to buy OAX, the best cryptocurrency exchanges to use right now are Binance, Gate.io, and CoinDCX.
Frequently Asked Questions
Can I Buy OAX With Cash?
No. There is no direct method to purchase OAX using cash. You can, however, utilize markets such as LocalBitcoins to first acquire BTC, and then complete the remainder of the procedures by moving your BTC to the appropriate AltCoin exchangers.
Are there any quick ways to buy OAX in Europe?
Yes, in reality, Europe is one of the easiest countries to acquire cryptocurrency in general. There are also online banks where you can create an account and send funds to exchanges like Coinbase and Uphold.
On what factors does the price of the OAX Depend?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact OAX’s price and market cap.
OAX Official Website – https://oax.org/
OAX Twitter – https://twitter.com/OAX_Foundation
OAX Reddit – https://reddit.com/r/OpenANX
