$0.151084
+16.25%
- Rank #783
- Market Cap 16.37% $8,428,735
- 24H Spot Volume 4390.22% $17,231,970.85
- 24H Volume / Market Cap +3980.00%+204.00%
- Circulating Supply 55,788,269.14
- Total Supply 100,000,000
- Max Supply -
- Fully Diluted Valuation -
- API ID oax
- Project Start Date -
- Contracts & Explorer(s) 0x701...3fe1d
- Websites Website
- Links
About OAX
OAX is an ERC20 token developed to fuel an open-source decentralized exchange platform ¡°openANX¡± which provides an aggregated order book to increase liquidity; holds collateral for asset gateways to reduce credit risk; and features an off-chain, predetermined dispute resolution system governed by the Decentralized Autonomous Organization(DAO) to maximize consumer protection.
With improvements in the Ethereum blockchain ecosystem brought about by state/payment channel developments and decentralized governance methodologies such as boardroom.to, significant functional improvements can be considered to the entire Centralized Exchange Model (¡°CEM¡±). Key to this concept is the deployment of a new decentralized exchange platform that allows transparency for end users, holds collateral for participating gateways and provides a predetermined channel for dispute resolution. Currently, centralized exchanges are opaque, closed systems with limited visibility of security and access protocols, while the first generation of decentralized exchanges fails to adequately provide liquidity and trade volume for users. This white paper provides the pathway to a new, significantly improved platform governed by a decentralized autonomous organization (¡°DAO¡±), which in turn shall be developed by the Open ANX Foundation (the ¡°Foundation¡±), a non-profit foundation. Furthermore, we shall explore the importance of governance and transparency required of any exchange system in order for it to be effective. The paper will provide an outline of the openANX project (¡°openANX¡± or the ¡°Project¡±), milestones in the development, and delve into the requirements needed to ensure that the project avoids the pitfalls of previous decentralized exchange developments.
Expand
Related News
Cardano shifts to decentralized governance as Chang hard fork goes live
Ton developers adopt ‘Resistance Dog’ memecoin avatar to support Pavel Durov; token jumps 140%
MakerDAO plans to optionally redenominate 1 MKR into 24,000 NGT tokens as part of endgame
Blockchain security firm Veridise finds ZK audits are twice as likely to uncover critical issues
WazirX hacker funnels $149M of SHIB, MATIC other altcoins into ETH
Latest News
More
9 Hours Ago Brazil to review Elon Musk’s X ban after $5M fine payment
10 Hours Ago Crypto.com sues SEC to ‘protect the future of crypto’ in US
17 Hours Ago BloFin Impresses at TOKEN2049 Singapore with Strong Vision for Rapid Expansion
1 Day Ago UAE exempts crypto transfers, conversion from value-added tax
1 Day Ago Binance set to list Ethereum Layer 2 Scroll's token, SCR, for pre-market trading
Use TokenInsight App All Crypto Insights Are In Your Hands
Open