HONG KONG, July 4, 2017 /PRNewswire/ -- The Open ANX Foundation Limited (The "Foundation") announced today that it has closed the OAX Token Sale ahead of schedule after it surpassed its initial funding goal. The campaign opened on 22 June with the objective of selling a minimum of 13 million OAX tokens and achievedthat milestone in less than an hour. As of the closing on 4 July, the Foundation has sold 25,009,250 OAX tokens in less than 11 days, or a total of $18,756,937 USD at the sale exchange rate of 478.68 OAX per ETH.
Ken Lo, a Director of the Foundation said, "We are extremely happy with the results of the OAX Token Sale. We are thankful to the community who have rallied around the openANX platform concept. Our team feels strongly that a large, engaged community will be a key factor in the success of the project. With over 4,400 participants that have exchanged 52,246.28 ETH for OAX tokens and the majority of our backers are individual contributors rather than the "whales" that have filled some token sales. We are grateful for all those who participated and supported the project."
openANX is a decentralized platform for cryptocurrency exchange that will include strong aspects of consumer protection and transparency "hardcoded" into the infrastructure. These measures include collateral backed asset gateways, credit risk trading, liquidity aggregation and an open source code base. By allowing users of the platform to move fiat currency on or off the blockchain with confidence, the aim of the project is to accelerate the mass adoption of cryptocurrencies and reduce risk for users.
The Foundation is now working on the next steps, the details of which will be revealed in the coming weeks. First among these will be the launch of a "User Group" of exchanges to help define and determine industry best practice and guidelines. This will be accompanied by an ongoing campaign to get out and meet the community, advisors and exchanges and to expand its network of relationships and backers.
Notes to Editors
ABOUT Open ANX Foundation Limited
Open ANX Foundation Limited (the "Foundation") is a non-profit-making entity established under the laws of the Hong Kong Special Administrative Region as a company limited by guarantee. The objective of the Foundation is to promote the real-world application of the openANX Platform ("openANX Platform" or "openANX"), an open source, decentralized digital assets exchange along with the development of a bespoke token called OAX.
ABOUT openANX
openANX is built on the Ethereum blockchain and will utilize decentralized exchange protocols to allow cost-effective trading with reduced credit risk. By combining an open-source, decentralized matching engine alongside collateral-backed asset gateways, the openANX platform greatly improves consumer protection and transparency while significantly reducing risk. For more information, please visit:https://www.openanx.org/en/.
ABOUT the Project Team
The launch and groundwork of openANX is currently being coordinated by ANX International and veteran advisors from the industry. Founded in 2013, ANX International is a Hong Kong-based, market leading FinTech company specializing in blockchain technology. Its development team is among the world's largest with proven ability of operating ANXPRO, one of the longest running bitcoin trading platforms in Asia. Highly experienced in cryptocurrency with passion to match, the openANX team consists of the industry's brightest technology, business and legal minds.
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