OAX coin is short for The OpenANX project's Ethereum token, also known as ANX coin. OpenANX is an innovative, open source, decentralized trading platform that will be more transparent, secure and efficient, change the trading patterns of the digital token market, address the asset barriers to large-scale adoption of cryptocurrencies, and add real-world fiat coins to the cryptocurrency system.

The openANX platform will leverage technological developments in the Ethereum blockchain, such as payment channels (Raiden Network, 0X, Swap, ERC20), to address the challenges posed by the current centralized transaction platform model (CEM). It will build on the strengths of existing models to improve the operation of decentralized trading platforms by linking existing trading platforms (asset gateways) to infrastructure networks, and strengthening mortgage deposit systems to provide users with a basis for risk assessment. At the same time, it would provide an off-chain, legally binding dispute arbitration mechanism to provide much-needed consumer protection. In addition, by being open source, openANX ensures transparency and allows users and the public to censor and participate. The only way to ensure transparency as an alternative to a central authority (government or regulatory authority) is to write transparency into the blockchain. The openANX platform uses the latest technology and open source code that has been peer-reviewed and applied; It will combine the advantages of the existing CEM model with the best functions and features of the decentralized model, while avoiding the shortcomings of both systems. OpenANX will provide gateway services and a secondary decentralized marketplace bridging ethereum ERC20 tokens. These Ethereum tokens can be either ethereum native tokens (such as tokens from other decentralized autonomous organizations) or crypto tokens backed by assets under the chain.