What is OAX?

OAX is a digital asset that was established by the OAX Foundation in 2017. The foundation's mission is to contribute to the growth of the digital asset industry through technology development, community support, and ecosystem advancement. OAX is built on the belief that decentralized finance and digital assets will play a crucial role in the future of mainstream finance and commerce. The foundation addresses the four main challenges identified in the digital asset industry: speed, scalability, interoperability, and trust. OAX provides support within this space through the development of tools, technology, applications, and community support.

How does OAX work?

OAX operates on the principles of openness, trustlessness, and strong governance. It has developed a Layer 2 Protocol (L2X) that focuses on addressing scalability, dispute resolution, and more for decentralized exchanges. The protocol allows for the dispute resolution process to take place on-chain, enabling platform users to settle disputes directly without the need for third-party custodians. OAX launched the Notifs app, a DeFi Portfolio Tracker, in 2023. The app helps users get visibility and updates relevant to their portfolio.

What are the potential use cases for OAX?

OAX provides solutions for the digital asset industry. Its Layer 2 Protocol (L2X) can be used by decentralized exchanges to address scalability and dispute resolution issues. The Notifs app, developed by OAX, serves as a DeFi Portfolio Tracker, providing users with visibility and updates relevant to their portfolio. Furthermore, OAX's open-source code can be utilized by developers to build on and contribute to the digital asset ecosystem.

What is the history of OAX?

OAX Foundation was established in 2017 to contribute to the digital asset industry. The foundation identified four main challenges in the digital asset industry: speed, scalability, interoperability, and trust, and set out to address these. In August 2019, OAX released its Layer 2 Protocol (L2X), which focuses on addressing scalability and dispute resolution for decentralized exchanges. In 2023, OAX launched the Notifs app, a DeFi Portfolio Tracker. The foundation has been actively involved in research and community support within the digital asset industry.