The OAX Foundation is headquartered in Wan Chai, Hong Kong and was founded by Ken Lo, Hugh Madden, Dave Chapman, and David Tee in 2013. The OAX Foundation is the creator of the open source and transparently governed OpenANX decentralized cryptocurrency exchange. The OpenANX decentralized exchange operates using their own OAX cryptocurrency. The OAX Foundation receives support for its events, research, and other initiatives from the following firms: Refinitiv, Cognito, and OpenMinds.
The following companies are in partnerships agreements with OpenANX:
- ANX International
- Octagon Strategy
- Enuma Technologies
- Solidus Labs
The OAX Foundation released their white paper in June 2016 that was titled "Real World Application of Decentralized Exchanges". Two years after releasing its white paper the company announced their partnership with Enuma Technologies to build the companies decentralized exchange (DEX) using the 0x protocol. In December 2018 the OAX Foundation demonstrated its blockchain performance for single nodes to be able of handling over 1000 transactions per second, and in January 2019 the company released their DEX on the Rinkeby Testnet. In August 2019 the OAX Foundation released the source code for the companies Layer 2 Exchange (L2X) protocol.
The OAX Foundation held its initial coin offering for their OAX cryptocurrency from June 22, 2017 to July 21, 2017 selling approximately $18,756,937 worth of OAX tokens.
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