Founded in 2017 and headquartered in Hong Kong, the OAX Foundation is a non-profit organization dedicated to advancing the decentralized finance (DeFi) and digital asset ecosystems. Its mission is to address the key challenges facing decentralized exchanges today, including speed, scalability, interoperability, and trust issues, through technological innovation, community support, and ecosystem building.
Core Technology and ProductsIn
order to solve the limitations of the Ethereum main chain in terms of transaction speed and cost, the OAX Foundation has developed the L2X protocol. The protocol leverages off-chain state channel technology to enable high-throughput and low-latency transaction processing while retaining the security of on-chain settlement. L2X also introduces a dispute resolution mechanism, which enhances the reliability of transactions and user trust.
The OAX Foundation is actively involved in the Polkadot ecosystem and has developed several functional modules for parachains, including ERC-20 compatibility, atomic swaps, fee delegation, and multiple transfers. These features are designed to improve the efficiency and user experience of cross-chain transactions, driving widespread adoption of DeFi applications.
Notifs is a digital asset tracking and management tool from the OAX Foundation that integrates AI news feeds, on-chain whale address monitoring, and multi-asset portfolio management. The app supports a multi-language interface, including Chinese Simplified and Chinese Traditional, and is designed to provide users with a comprehensive crypto asset management experience.
Token Economics & Market Performance
OAX Token is the native utility token of the OAX platform, issued based on the Ethereum ERC-20 standard, with a total supply of 100 million. As of now, the circulating supply is about 95.81 million. The OAX token is primarily used for trading, governance, and incentives within the platform. In order to control inflation, the OAX Foundation plans to conduct a 1:1 token swap and burn OAX tokens on Ethereum after its Polkadot parachain is stable, thereby reducing the circulating supply.
According to the latest market data, the OAX token is currently trading at around $0.0161 and has a market cap of around $1.54 million. Its all-time high was $2.92 (January 7, 2018) and its all-time low was $0.0167 (March 13, 2020).
Community Building & Industry
CooperationOAX Foundation values community engagement and industry collaboration, and actively participates in various industry conferences and research projects. For example, working with Syren Johnstone, a professor at the University of Hong Kong's Faculty of Law, to explore regulatory issues in the digital asset space. In addition, the OAX Foundation has a grant program to support projects and teams that align with its values to advance decentralized finance.
Neutral evaluation:
OAX Foundation has shown a positive attitude and action in promoting the development of the decentralized finance ecosystem. Its exploration of Layer 2 scaling, cross-chain interoperability, and user tooling provides a useful reference for the industry. However, in the face of an increasingly competitive DeFi environment, OAX Foundation needs to continue to innovate and expand its user base to ensure its competitiveness in the market.
SummaryAs
an early participant in the field of decentralized finance, OAX Foundation is committed to building an open, credible, and efficient digital asset ecosystem through technological innovation and community building. Its efforts in Layer 2 technology, cross-chain integration, and user tooling have provided strong support for the development of DeFi. Going forward, the continued growth of the OAX Foundation will depend on its performance in technological innovation, user growth, and ecosystem expansion.
