What is OAX?
OAX (OpenANX) is an open-source decentralized exchange platform that combines the transparency of the blockchain with traditional financial industry practices. It was created to provide a secure, transparent and reliable trading environment for digital assets. OAX uses a hybrid approach combining both off-chain and on-chain elements to ensure that users have access to a wide range of digital assets while maintaining security and trust. The platform also provides users with access to liquidity from multiple sources, allowing them to trade in different markets without having to go through multiple exchanges.
The OAX platform is powered by its native token, the OAX token. This token serves as the primary means of payment within the system and can be used for various activities such as staking, voting, and paying transaction fees. The OAX token also enables users to participate in governance decisions related to the platform.
The team behind OAX consists of experienced professionals from both traditional finance and blockchain technology backgrounds who are committed to creating a secure, transparent and reliable trading environment for digital assets. They have developed an innovative consensus algorithm called Delegated Proof of Stake (DPoS), which allows users to stake their tokens in order to earn rewards while helping maintain network security.
OAX has also partnered with several leading companies in the cryptocurrency space including Bitfinex, Bittrex International, OKEx, Huobi Global, KuCoin Global, Gatecoin Limited and more. These partnerships allow OAX users access to liquidity from these exchanges while providing additional security measures such as Know Your Customer (KYC) verification.
Overall, OAX is an ambitious project that seeks to revolutionize the way people trade digital assets by combining traditional financial industry practices with blockchain technology. With its innovative consensus algorithm and partnerships with leading exchanges in the space, it could become one of the most popular decentralized exchanges in the near future.
