In a world swiftly moving towards decentralization, OAX Foundation, established in 2017, stands as a pivotal player aiming to make decentralized finance and digital assets mainstream. The Foundation’s core belief in the collaborative potential of decentralized finance has led it to work closely with significant players in the space. This synergy is focused on overcoming the industry's key challenges: speed, scalability, interoperability, and trust. By addressing these issues, OAX not only champions technological advancements but also paves the way for a more inclusive and efficient financial ecosystem. Dive into how OAX is redefining the future of digital assets.
The Vision and Mission of OAX Foundation
The OAX Foundation set out with the conviction that decentralized finance (DeFi) and digital assets would be integral to the future of mainstream finance and commerce. The Foundation’s deep-seated beliefs in the collaborative nature of decentralized finance have served as a basis for engagement with key players in the space to explore and push the potential of technology. As the space evolves and the market matures to offer comparable options to those looking for alternatives from traditional financial ecosystems, the need to develop the technology and address the limitations of this new industry is imperative to its success. Such was the need to address the four main shortcomings identified by the Foundation: speed, scalability, interoperability, and trust.
Addressing Key Challenges in the DeFi Space
Speed and Scalability
One of the primary challenges in the DeFi space is the speed and scalability of transactions. Traditional financial systems have set a high bar for transaction speeds, and for DeFi to compete, it must offer comparable or superior performance. OAX Foundation is actively working on solutions to enhance transaction speeds and scalability, ensuring that the DeFi ecosystem can handle a growing number of users and transactions without compromising performance.
Interoperability
Interoperability between different blockchain networks is another critical challenge. The ability to move assets seamlessly across various blockchains is essential for the growth and adoption of DeFi. OAX Foundation is developing technologies that enable interoperability, allowing users to interact with multiple blockchain networks effortlessly.
Trust
Trust is a cornerstone of any financial system. In the decentralized world, trust is built through transparency, security, and robust governance mechanisms. OAX Foundation is committed to creating a trustworthy DeFi ecosystem by implementing advanced security measures, transparent processes, and community-driven governance.
The OAX Token: Utility and Purpose
Native Utility Token
The OAX crypto token is the native utility token of the OAX platform, which is a sustainable Ethereum-based digital asset ecosystem. The token is designed to eliminate the centralization of bartering transactions and encourage decentralization, ensuring that all completed trades take effect immediately.
Use Cases
The OAX token is used for conducting transactions within the platform. As the platform grows, more use cases for the token are expected to develop, increasing demand for the token and potentially influencing the OAX price. The token also addresses specific challenges in the digital asset ecosystem, with the OAX Foundation building OAX's own blockchain, which will be part of the Polkadot network. This parachain is expected to support DeFi APIs and allow for the creation of user-friendly DApps.
Key Features
The OAX Parachain will include several key features, including ERC20 functionality, atomic swap, fee delegation, and MultiTransfer. These features are designed to improve the user experience and attract users, ultimately contributing to the platform's goal of reaching mass adoption.
Tokenomics and Distribution Model
Total Supply and Circulating Supply
The OAX crypto token has a total supply of 100,000,000 tokens. The current circulating supply is 77,034,446.49 tokens. The Foundation has placed the highest priority on addressing the four fundamental challenges that the digital asset ecosystem faces, including enhancing the utility of the OAX token.
Token Distribution
The specific token distribution model, including the percentage allocated to the team, investors, community, and other stakeholders, is not explicitly detailed in the provided sources. However, the OAX Foundation is committed to building its own blockchain to enhance the utility of the OAX token and address the challenges of the digital asset ecosystem.
Mechanisms to Control Inflation
The OAX Foundation is exploring a discretionary 1-to-1 token swap when the parachain is complete and stable, with the intention of keeping the current supply and burning any OAX tokens circulating on Ethereum beforehand. This mechanism could potentially control inflation by reducing the circulating supply of OAX tokens.
Market Data and Performance
Current Market Statistics
- Current Price: $0.2221
- Market Cap: $17,112,526.47
- 24h Price Change: -1.90%
- 7d Price Change: 10.85%
- 30d Price Change: 47.84%
- 24h High: $0.2373
- 24h Low: $0.2220
- All-Time High: $2.9173 (2018-01-07)
- All-Time Low: $0.0167 (2020-03-13)
- Circulating Supply: 77,034,446.49
- Total Supply: 100,000,000.00
The Team Behind OAX
Core Team Members
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Amir Khashayar Mohammadi: Co-founder and CEO of OAX Foundation. Amir has extensive experience in the blockchain and financial industries, having worked as a Senior Consultant at Deloitte and a Senior Analyst at the Monetary Authority of Singapore. He holds a Master's degree in Financial Engineering from the National University of Singapore.
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Matthew Le Merle: Co-founder and Managing Partner at Blockchain Coinvestors, an investor in OAX Foundation. Matthew has a strong background in venture capital and private equity, having worked with firms such as McKinsey & Company and Monitor Group. He holds an MBA from Harvard Business School and a BA from Yale University.
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Jonas Karlberg: Co-founder and Director of Business Development at OAX Foundation. Jonas has a background in business development and marketing, having worked with companies such as IBM and PwC. He holds a Master's degree in Business Administration from the University of Oxford.
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Diane Dai: Co-founder and Director of Operations at OAX Foundation. Diane has experience in the blockchain and financial industries, having worked as a Senior Analyst at the Monetary Authority of Singapore and a Consultant at Deloitte. She holds a Master's degree in Financial Engineering from the National University of Singapore.
Notable Advisors and Partners
The OAX Foundation has formed partnerships with various companies, such as Blockpass, KYC-Chain, and Solidus Lab, to improve adoption and address market manipulation. The project has also achieved significant technical milestones, including the launch of its DEX software development kit and the deployment of its platform on the Rinkeby Testnet.
Conclusion
The OAX Foundation is at the forefront of the decentralized finance revolution, addressing key challenges and paving the way for a more inclusive and efficient financial ecosystem. With a strong team, strategic partnerships, and a clear vision, OAX is well-positioned to redefine the future of
