In the digital world,
the use of tokens on blockchain is growing rapidly. There are many projects
creating digital token exchanges on blockchain, tokens can represent purely
digital assets such as Bitcoin or ether, real-world assets such as US dollars,
ownership or control tokens in digital autonomous organizations or DAO. There
are many ways to exchange these digital issues within a blockchain but the
market still relies on centralized exchanges to hold customer funds and issue
tokens onto a blockchain. These exchanges have failed in a way to safely bridge
real-world assets time and time again.
OAX is a new,
decentralized cryptocurrency exchange project run by the OAX Foundation. OAX is
an open source, transparent, decentralized platform with not only the liquidity
of a centralized exchange but also the security and transparency of existing
decentralized exchanges. OpenANX solves this problem by converting pre-existing
exchanges into asset gateways. These asset gateways then post Ether as a
collateral and Ethereum smart contract before they. These tokens can be used
for trading against existing tokens, but also provide credit risk trading
markets. Credit risk trading markets allow trading on the credit risk of each
of collateral gateway. These order books are aggregated together, providing a
liquid, credit risk adjusted platform, bridging real-world assets into the blockchain
world of token change.
The Future of
Exchanges
The basis of the OAX
platform will be to disrupt the current exchange model which has become a
centralized one nearly exclusively to-date in 2018. The future though should
bring about a decentralized solution as much of the blockchain industry focuses
on this pivotal aspect. Why is this so important for an exchange, While they
are centralized, they become central points of attack for hackers and others
with malicious intents. Through the decentralization of these exchanges, it
should bring about a more secure solution for users. On a lighter note, the
decentralized nature of these exchanges should allow users and traders the
added benefit of enjoying smaller fees on their trading pairs. Through this it
will help traders raise their bottomline, simply through the savings in
exchange fees.
Two of the core
components of the OAX platform will be to remain decentralized and transparent.
The importance of transparency within the cryptocurrency community continues to
be as vital as ever. The longer the ICO craze rolls along, the more and more of
the projects we are seeing come into the spotlight for something negative such
as fraud or exit scams. The need for a transparent decentralized exchange may
be the more vital aspect since without this it will not properly capture the
trust of the users. Through a transparent OAX Foundation, the team hopes it
will again be setting a new trend within the cryptocurrency space with the
establishment of the OAX platform.
The platform plans to
establish itself as a key player within the decentralized exchange industry. To
do so, the team has a host of actionable items planned out which will ensure
this becomes a reality. First they plan to “migrate existing exchanges” with
the creation of fiat and cryptocurrency pairs in a collateralized manner.
Furthermore, the team will focus on developing a proprietary “aggregation
liquidity IP” which will allow for the merging of the liquidity from
participating Asset Gateways. Another exciting feature will be the peer to peer
and over the counter order matching. All of which will help support the
exchange’s ambition of becoming decentralized.
The features contained
in OAX platform will help users build trust and confidence in transactions. As
the digital asset market grows and attracts new entrants. We need to know that
one of the objectives of the OAX project is to create and maintain adequate
liquidity to combine the best aspects of centralized and decentralized
exchange. And one of the technologies that OAX uses is 0x. Synchronization of orders
between the register of orders with systems "P2P" (peer-to-peer
peer-to-peer network) and "OTC" (over the counter - over-the-counter
market).
OAX Foundation
The primary objective
is to promote the real world application of the OAX platform and ecosystem. It
also aims to initially develop the OAX platform and advocate governance and
promote the core values of being open, transparent and decentralized. The
participants of the platform themselves determine their risks through the
mechanism of the security deposit, as well as through the connection to the
network of asset gateways. Thanks to such a combination of customer funds will
be under reliable protection.
The development of the
OAX project is led by Enuma Technologies, one of the world's leading blockchain
engineering firms. It also helps further application of Sprite technology
applications. Sprite was originally developed by researchers at the University
of Illinois at Urbana-Champaign to address the deficiencies in payment channels
that limit the volume of transactions. One of the first real-world applications
is an OAX project that will help increase transaction speed through the OAX
platform and reduce the cost of collateral.
Token
Token Symbol: OAX
Token type: ERC20
Total token supply: 100,000,000
OAX
Circulating Supply:
25,009,250 OAX
ICO Starts: 22 Jun
2017 to 21 Jul 2017.
ICO Token Price: 1 OAX
= $0.45 USD
Team
Ken Lo Leadership: Ken is a successful serial
entrepreneur who co-founded ANX International, one of the world's largest
blockchain service providers. As the CEO of ANX International, he has over 5
years experience in blockchain strategies, extensive knowledge in running
world-class crypto-assets exchanges, and providing innovative solutions to many
blockchain platform operators. Ken has 20 year's experience in business
strategy and execution working for MNCs like BT, Accenture, and Verizon.
Hugh Madden: Leadership
Dave Chapman:
Leadership
David Tee: Leadership
Amanda Liu: General
Manager and Senior Consultant
William Barkshire:
Senior Advisor
Liam Bussell:
Marketing
Advisor
Jehan Chu: Strategy
Advisory
Bok Khoo: Technology
Advisory
Peter Smith: Strategy
Advisory
Lionello Lunesu:
Technology Advisory
Henry Yu: Legal
Advisory
Website:
Whitepaper:
Bitcointalk:
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AnnThread:
Authored By: Richard Dra Ayebaesin
Bitcointalk Username: Spillx
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2317140
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