Ox is a protocol that facilitates the decentralised exchange of digital assets and ERC20 tokens operating on the Ethereum blockchain. The primary objective of the platform is to build interoperability between the dApps working on the Ethereum network.
The protocol operates on an open standard and is open source – developers can build their own applications for the exchange and the tokens operable on the exchange. Trades on the exchange are executed with the help of Ethereum Smart Contracts, which are publicly accessible and free to use. The platform also has a layer of decentralised governance in place to integrate updates without hindering the occupations of dApps. Its ICO in August 2017 raised $24m, backed by 12,000 investors.
The team, as well as the exchange, is based in South Korea, and the token meets all the regulatory requirements and has a high chance of being listed on Coinbase. The unique property of Ox is the link it provides between on-chain and off-chain ramps, which assists in reducing the load on the blockchain. The exchange could play a major role in speeding up trading volumes and pouring liquidity into the crypto marketplace. As the Ethereum blockchain matures, Ox’s growth should accelerate. This growth may also slow, since its fate is tied to the future of the Ethereum project, but it could nonetheless prove to be a great long-term investment opportunity
