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Oax

OAX

OpenANX

OAX

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₹6.07

LIVE

24H Low ₹6.00

24H High ₹6.92

Price of OAX today

The current live price of OAX today is ₹6.07, with a 24-hour trading volume of ₹84,64,18,159.60. Our OAX to INR price is updated in real-time. OAX has seen a decrease of -11.34% in the last 24 hours. With a live market cap of ₹47,01,80,374.84 , the circulating supply is at 77,034,446 OAX coins, with a maximum supply of 100,000,000OAX coins.

OpenANX Price History

Date ComparisonAmount Change% Change
Today-₹0.65

9.67%

7 Days-₹1.70

21.88%

30 Days-₹8.72

58.97%

1 Year-₹9.60

61.27%

OpenANX Price Information

Price Change (1hr)

9.09%

Price Change (24hr)

9.67%

Price Change (7d)

21.88%

openANX Market Stats

Market Cap

₹47,01,80,374.84

Fully Diluted Market Cap

₹61,03,50,818.93

24hr Volume

₹84,64,18,159.60

19.14%

Circulating Supply

77034446.49 OAX

Total Supply

100000000 OAX

Things to know about OpenANX

What is OAX (OAX) token?

OAX token is an ERC20 token developed to fuel an open-source decentralized exchange platform known as “openANX,” which aims to improve the ecosystem of digital assets by enhancing efficiency, transparency, and governance standards. The platform combines the benefits of centralized exchange models with the trustless and transparent nature of decentralized systems. It provides an aggregated order book to increase liquidity, holds collateral for asset gateways to reduce credit risk, and features an off-chain, predetermined dispute resolution system governed by a Decentralized Autonomous Organization (DAO) to maximize consumer protection.

Tokenomics

  • Total Supply:

  • 100,000,000 OAX tokens.

  • Circulating Supply:

  • Approximately 77,034,446 OAX tokens.

  • Market Cap:

  • Varies with live market conditions was USD 16,003,793 at the time of the last update.

Market Data

As of today #{today’s date}, the price of OpenANX is ₹6.07 INR or 0.0682 USD, with a 24-hour trading volume of 9510316.4 USD. The market capitalization for OpenANX is 5282925.56USD. The circulating supply is 77034446.49 OpenANX, with the total supply also being 100000000 OpenANX.

Token Pros and Cons

Pros:

  • Decentralization:

  • OAX aims to provide a decentralized exchange platform, reducing reliance on centralized authorities and potential single points of failure.

  • Transparency:

  • The platform’s use of blockchain technology ensures transparent transactions and operations.

  • Consumer Protection:

  • Features like collateral holding and dispute resolution are designed to protect users.

  • Governance:

  • The DAO structure allows for community-driven governance and decision-making.

  • Technology Integration:

  • OAX incorporates advanced features such as an aggregated order book and off-chain dispute resolution.

Cons:

  • Market Competition:

  • OAX faces stiff competition from other decentralized exchanges and DeFi platforms.

  • Adoption Rate:

  • The success of OAX depends on the adoption rate within the crypto community, which is uncertain.

  • Regulatory Risks:

  • Decentralized platforms are subject to evolving regulatory environments, which could impact OAX’s operations.

  • Technical Complexity:

  • The advanced features of OAX may present a barrier to entry for less technically savvy users.

  • Liquidity Concerns:

  • As with many decentralized exchanges, there may be concerns about liquidity compared to more established centralized exchanges.

Why Should You Invest in the Coin?

  • Innovative Platform:

  • OAX’s approach to combining the best aspects of centralized and decentralized exchanges could position it well within the market.

  • Strong Governance Model:

  • The DAO and community-driven governance model may lead to a more robust and adaptable platform.

  • Consumer-Centric Features:

  • With a focus on consumer protection and transparency, OAX could attract users looking for a secure trading environment.

  • Technical Advancements:

  • The platform’s technical features, such as the Layer 2 Protocol, could provide a competitive edge regarding scalability and speed.

  • Educational Resources:

  • Initiatives like OAX Academy demonstrate the project’s commitment to supporting and educating users, potentially fostering a strong community.

USP of the Coin

  • Decentralized Autonomous Organization (DAO):

  • The governance model of OAX is designed to be democratic and community-driven, which is not as common in other cryptocurrency projects.

  • Layer 2 Protocol:

  • OAX has developed a Layer 2 scaling solution to address scalability and speed issues in decentralized exchanges.

  • Educational Commitment:

  • The OAX Academy initiative is a unique approach to lowering the barrier of entry into the digital assets ecosystem by providing educational resources.

Problem the Coin is Solving

OAX addresses the lack of transparency, security, and consumer protection in traditional centralized exchanges by providing a decentralized exchange platform that holds collateral, increases liquidity, and offers dispute resolution. It also tackles the scalability issues faced by first-generation decentralized exchanges.

Founder and Team Background

The OAX Foundation was co-founded by Hugh Madden, who has a background in technology and finance. The team includes other experienced professionals like Ken Lo, Dave Chapman, David Tee, and Claudia Lau, who bring expertise from various fields, including finance, technology, and law.

ICO Price

  • ICO Price:

  • The price of OAX during the token sale was $0.45 per OAX.

  • Listing Date:

  • The OAX token sale started on 22nd June 2017 and lasted until 21st July 2017.

Risks Associated in Investing in the Coin

  • Regulatory Uncertainty:

  • Changes in cryptocurrency regulations could negatively impact OAX’s operations and token value.

  • Market Volatility:

  • The cryptocurrency market is known for its high volatility, which can lead to significant price fluctuations.

  • Competition:

  • The growing number of decentralized exchanges could dilute the market and affect OAX’s adoption.

  • Technical Risks:

  • As with any technology-driven platform, there is a risk of technical failures or security vulnerabilities.

  • Liquidity Risk:

  • Decentralized exchanges often struggle with liquidity issues, which could affect trading on the OAX platform.

Summary of the Whitepaper

The OAX whitepaper outlines the vision for a new decentralized exchange platform governed by a DAO. The platform, known as openANX, aims to address the shortcomings of both centralized and first-generation decentralized exchanges by combining their best features. The whitepaper discusses the importance of transparency and governance in exchange systems and how openANX will implement these principles.

The key innovations proposed by openANX include an aggregated order book to improve liquidity, the holding of collateral in a trustless manner to reduce credit risk, and an off-chain dispute resolution process to protect consumers. The platform will leverage advancements in blockchain technology, such as state/payment channels and decentralized governance methodologies, to create a more efficient and user-friendly exchange.

The whitepaper also details the project’s milestones, development roadmap, and the technical requirements necessary to avoid the pitfalls of previous decentralized exchange developments. It emphasizes the role of the OAX Foundation in fostering a sustainable digital asset ecosystem through technology development, community support, and ecosystem advancement.

The openANX project is presented as a solution to the lack of trust and transparency in current exchange models, offering a pathway to a more secure, efficient, and equitable trading environment for digital assets. The whitepaper makes a case for the need for improved governance structures and the potential of decentralized finance to revolutionize the digital asset industry.

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What is the price of OpenANX (OAX)?

The current price of OpenANX (OAX) in INR is ₹6.07 INR.

What is the current OAX market cap?

The current market capitalization of OpenANX (OAX) is ₹47,01,80,374.84 INR. This value represents the total market value of all coins in circulation, calculated by multiplying the current price of OAX by the number of coins in circulation.

What is the current supply of OpenANX (OAX)?

The current supply of OpenANX (OAX) is 77034446.49 OAX. This figure represents the total number of coins that have been mined and are currently in circulation.

What is the 24 trading volume of OpenANX (OAX)?

The 24-hour trading volume of OpenANX (OAX) in INR is ₹84,64,18,159.60. This figure represents the total value of all OAX transactions across various exchanges within the last 24 hours.

How to Buy OpenANX (OAX) in India?

To buy OpenANX (OAX) via Mudrex, simply sign up and create an account on their platform. Proceed by completing the KYC process to verify your identity. Once verified, deposit funds into your account using the available methods. With your account funded, you're all set to start investing in OAX.

Can I buy OpenANX (OAX) with UPI?

Yes, you can buy OpenANX (OAX) with UPI on Mudrex, which accepts payments through popular UPI apps like Paytm, PhonePe, and Google Pay, offering a convenient and quick way to invest.

How to Convert OpenANX (OAX) to Indian Rupee (INR)?

To convert OpenANX (OAX) to Indian Rupee (INR), you can use our OAX/INR conversion rates in real time.

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