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Token Sale on June 22
Announcements--Regarding scam victims and ETH address change requests--
A number of bounty participants and token sale participants have contacted us to let us know they have been hacked, either by a Phishing Scam or some other method. They have requested us to change the ETH address that was provided for the receipt of OAX tokens. The following is the procedure for those affected:
- Complete the registration (found on the official website)
- Complete the verification (found on the verification tab on the registration page)
Once these tasks have been completed, you may email us at security@openanx.org to receive further instruction.
The openANX Marketing team would like to state it clearly that this potential evaluation is conducted on the sole discretion of the Open ANX Foundation and it is beyond the scope of the bounty program and the sale terms, and under no circumstances are we obligated to undertake this process whether the evaluation posses legitimate merit or not. The process must not be considered as a default for persons who do not maintain reasonable security practices. openANX reserves the right to decline the process on its sole determination and accepts no liability for any loss of ETH, compromise of security, hacking or any other event that will cause a person to lose a part or all of his/hers digital assets.
What is openANX?
The openANX platform will take advantage of technical developments on the Ethereum blockchain such as payment channels (Raiden, 0x, Swap, ERC20) and utilize them to overcome the challenges faced by the current CEM. It will co-opt the strengths of the existing model to improve the existent decentralized exchange attempts by linking existing exchange platforms (“Asset Gateways”) to the network and enforcing a collateralized deposit system that will provide users with a way to measure risk. It will also provide an off-chain, legally enforceable dispute resolution system to provide much needed consumer protection.
The key deliverables of openANX are to:
• Migrate existing exchanges to the role of collateralized Asset Gateways, bridging fiat to tokens in a collateralized, transparent manner
• Provide credit risk trading to allow price discovery and a market “voice” of gateway creditworthiness
• Provide dispute resolution to access collateral in the event of disputes
• Aggregate order books using ANX International (“ANX”)’s proprietary “aggregation liquidity IP”, and merging the liquidity of participating Asset Gateways
• Complement the wave of “token only” decentralized matching engine projects which otherwise would not have fiat support, and hence further increase liquidity, and accessibility for the general public
• Both order book and Peer-to-Peer (“P2P) Over the Counter (“OTC”) order matching
• Migrate ANX International’s existing user base to the new platform, ensuring a critical mass of initial users; and then growing a consortium of new and existing exchanges committed to migrating to the openANX platform
Shortcomings of the current Centralized Exchange Model (CEM)
The current paradigm of the CEM began with Mt. Gox, and has developed and matured to reach the status quo. The CEM allows companies to provide services for users to buy/sell tokens, or exchange them for other assets through a central gateway platform for a fee. These proceeds ensure the service provider in return offers customer support, security and a suite of product offerings. The strengths of the system have developed over time to coalesce around banking relationships (the ability to turn Bitcoin or ETH into cash) and providing liquidity. However, with repeated security breaches in various exchanges and poor management, public’s faith in the CEM system is increasingly waning. The fundamental question is one of trust – without an effective way to measure risk, users tend to under-price its potential.
Age of Decentralized Exchanges
The shortcomings of centralized exchanges have seen a number of decentralized exchanges emerge. These largely fit into two categories; those that handle native fiat currencies, and those that handle only pure digital tokens. A number of pure decentralized digital token exchanges and protocols are starting to emerge, notably on-blockchain markets such as cryptoderivatives.market, and offblockchain protocols such as 0x and Raiden for single blockchain token trading. For cross blockchain exchange, the emergence of the Lightning network for cross blockchain atomic swaps is promising.
The openANX model
Videos
Summary | About openANX | What's Unique? | Credit Risk | How Does Liquidity Aggregation Work?
User perspective
Who's behind openANX?
