Are you looking to invest in the cryptocurrency technology using the openANX platform? Find out everything you need to know about OpenANX in this article. Find out what it is, house it works, its token sale and other features included in the platform.
What is openANX?
OpenANX is an Ethereum blockchain-bases decentralized exchange. It is operated by ANX International, a Hong Kong-based company in partnership with veteran industry advisors. ANX international was originally founded in 2013 under is FinTech company. They are best known for powering the longest-running Bitcoin trading platform the ANXPRO. With open ANX, the company wants to create a decentralized marketplace the embraces cryptocurrencies and their future.
How does OpenANX work?
Basically, openANX works exactly as DAO. It is a decentralized autonomous organization where users and participants can securely trade assets in a trustless exchange. It is the same as other DOAs which means it is operated using the smart contracts. The governance model affects all the aspects of the DOA and runs in accordance with the best interest of the participants. These are the core functions that openANX works with:
- Asset gateways: OpenANX want to create a future where customers will be able to trade their assets through decentralized trustless exchanges. The only interacting will happen during the onboarding and offboarding of real-world funds.
- Participants: OpenANX has taken the strength of decentralized and centralized exchanges in order to create a new middle ground for participants. Users and participants will enjoy the profits of both exchanges.
- Dispute resolution: in the cryptocurrency market, sometimes dispute can escalate beyond asset gateways. OpenANX has a resolution mechanism and is impartial and available through a third party.
- Aggregated order books: OpenANX use aggregated order books as a way of increasing the liquidity of the platform. The aggregated order books make sure end users have access to seamless order books.
OpenAnx video explanation
The OpenANX foundation was built with the objective of promoting OpenANX users, systems and application in the real world. The foundation and what it does to help openANX users is all written in the openANX Whitepaper if you wish to learn more about it.
OpenANX exchanges operate aim the same way as a DAO. It operates in the best interest of participants allowing for secure trading through trustless exchanges. It is led by Hong Kong’s ANX International. You can buy the OAX token through their token sale. The just concluded token sale began on June 22 and ended on August 21.