OAX is a decentralized project that was launched as openANX in 2017. The OAX Foundation developed a layer-2 solution called L2X in collaboration with Enuma developers in June 2018. In February 2020, OAX Foundation announced its plan to develop code and features for use on the Polkadot Network, with the aim of expanding the potential of the digital asset space and the prominence of decentralized exchanges in digital asset trading. The Foundation has built a network of connections and strategic partnerships, and is committed to open-sourcing its work in the spirit of decentralization. The team also has a grant program to work with the community to develop the future of DeFi, with inclusivity and community involvement as integral parts of the digital asset industry's long-term success.
OAX Foundation aims to promote the development of blockchain technology for digital assets by addressing the four main shortcomings identified in the space: speed, scalability, interoperability, and trust. They offer tools, technology, applications, and community support to achieve their mission. They are committed to open-source work and transparency in their operations to ensure that the work is driven in the right direction with the feedback of the community. They believe in the potential of the DeFi ecosystem and have been working to support its development by working on features developing for the Polkadot Network and collaborating with like-minded industry institutions. The Foundation focuses on DeFi-driven values, solid track record and expertise, range of OAX support, economical resourcing, and addressing key industry challenges. They also offer community and industry support by attending events, evaluating proposals, sponsoring industry reports and research, and welcoming ideas from parties that share alignment in their values.
OAX’s total supply: 100,000,000
OAX’s circulating supply: 77,045,251
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