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HomeNewsWhat is OAX? What Does OAX Coin Do?

What is OAX? What Does OAX Coin Do?


What is OAX? OAX is a DEX that aims to offer the best features of centralized and decentralized cryptocurrency exchanges on a single platform. cryptocoin.com In this article, we have answered the questions frequently asked by investors such as what is OAX, what it offers, what is OAX coin, what is it for, how to buy it. Let’s examine this crypto money project, which serves as a decentralized exchange (DEX), together.

What is OAX?

OAX is a decentralized exchange (DEX) platform built on the Ethereum Blockchain. Users can buy and sell cryptocurrencies with this platform. The platform also offers a variety of DeFi products and features. Accordingly, investors can maximize their returns as well as trading crypto. The team behind OAX aims to bring the best of centralized and decentralized exchanges. The exchange they developed for this purpose offers the most successful features in the crypto money market to its users.

Currently, most DEXs sacrifice many features in order to offer complete decentralization. However, the platform believes that the upsides of centralized exchanges cannot be ignored. Most DEXs ignore these benefits. OAX, formerly known as OpenANX, was developed by ANX International. The company in question was established in Hong Kong in 2013. It is also one of the largest Blockchain development groups in the world. Now let’s take a look at the features that OAX offers to its users.

What features does OAX’s platform have?

OAX understands that not everything on an exchange can be decentralized. Therefore, it takes a hybrid approach to the decentralized exchange platform. The team considers decentralization beneficial at the transaction level as it provides transparency. Other functions that are decentralized in the ecosystem include price discovery and trading operations, which can be implemented via smart contracts. However, the platform’s Blockchain codebase is completely open source.

However, OAX is distinguished from centralized exchanges by its “Asset Gateway” feature. This feature allows the platform to hold only one of the asset keys associated with transactions. These Asset Gateways monitor fiat currencies and issue an equivalent amount of ERC-20 tokens. In addition, users have the advantage of trading with the “Credit Risk” feature. DEX also requests KYC service via smart contracts for membership.

What is OAX coin? What does it do?

OAX has 5 membership classes. Users can apply to participate in various classes such as voting, founder and participant. At this point, OAX coin, the native cryptocurrency of the platform, comes into play. This cryptocurrency allows users to activate their membership level. Holders of OAX, an ERC-20 token, can also access features such as staking and governance through cryptocurrencies.

How to buy OAX coins?

OAX coin is currently available for purchase on cryptocurrency exchanges such as Binance, Gate.io, and CoinDCX. Interested investors should be a member of one of these exchanges and follow the buying steps.


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