[ANN] - OAX Foundation

[SonyEricSon]

45000 ETH within two days.
That is an amazing number.
Maybe soon all coins will be sold
Congratulations for your success.
And the bounty hunter will soon enjoy the results

[titan20]

Hi,

First of all the project seems to be really interesting and ambitious even for me who is completely new for cryptocurrencies and blockchains. I am going to buy OAX with a goal to get some more return in future, but before doing that I have to understand is there any prospect that OAX will rise in price in future. I would be grateful if you could answer those.

1. What do I get except voting privileges as an owner of OAX tokens?
2. I have read the whitepaper, as far as I understood I cannot sell OAX tokens and it can only be exchanged? What does it mean?
3. Maybe that question to the community, do you think that the price of OAX tokens may rise in price in future if the project is successful?

I am sorry if my questions seems to be dumb or newbie I got to know about openanx just yesterday

Hey mattz098, no your questions aren't dumb at all.

Let me try to answer... OAX tokens gain access to voting privileges, as discussed. This allows you to have a say in the future direction of the platform. In the future, this may provide other benefits, but this is still in concept phase.

Memberships can be swapped, certainly. Whether or not tokens can be traded is really out of our hands.

Last, I can't predict the future, nor do I want to be seen building hype. If you like the project, concept stage is a good time to get involved. A lot of people understand what we are trying to do with the platform and want to get involved now. Likely when the prototype is deployed and woking, people who find the whole thing theoretical now will likely feel more confident with something concrete. It depends on if you are excited by the idea.

so the only value  holding a token bestows is the ability to vote?

Is the token necessary for the openanx network to function? In other words do people need to buy the tokens to make use of the decentralised exchange?

Hi titan20, we want to make the platform open to everyone, to speed adoption. We also understand that for the platform to be viable, there will need to be some access fee. As such, we will have a nominal fee to use, currently we like using something like "The Economist" magazine's "Big Mac Index" or something similar. Hope that answers your question.

No it doesnt. A simple yes or no would suffice. But i have to interpret your answer now. So the fee is payed in OAX tokens? or something else?

Does anyone know if the OAX token is necessary for the Openanx network to function? Like you need Ether/gas to do stuff on the Ethereum network.

[holden.commodore]

slack invitation link anyone?

[YIz]

slack invitation link anyone?

Try to contact the team and get invited, the invitation link doesn't work for some reason.

[eddiies]

It's very interesting and a good project . It took a very good investment quickly .

yes.i also think it is a nice program.so i join the signature and invest to support it.

[Peao]

very good project for the Asian continent. hopefully they will be successful.too much and the project team on quality. successful ico. garnered a very good investment. I hope you will contribute to the development.

[LEEMEEGO]

very good project for the Asian continent. hopefully they will be successful.too much and the project team on quality. successful ico. garnered a very good investment. I hope you will contribute to the development.

they will sure do that man. and the ico is already successful, they have reached the soft cap few hours after the ico opened. and now they are only 9M away for the max cap..

here's an update:

TOTAL TOKENS SOLD 21,681,382.10 OAX

$ 16,261,036.58 USD
45,294.10 ETH

[Zechis966]

More than $16M is pretty impressive figures already invested into this project during 1st hours after the launch of this ICO. Now planning to invest more into this because it has great concept and this has good direction to deliver this on fast track at the moment less than 9 million tokens left for sale.

the interface has been stuck at that number for a while, pretty sure more people have invested but maybe not. doubt it's still only 9 mil when it was that HOURS ago.

Most valuable information that I found there is:
Members  are  not entitled  to  any  economic  rights  of  the  Foundation  at  any  time and  Memberships  do not entitle the holder to any distribution of profits nor any claim on any assets.

Everything else is just a bla-bla-bla, voting  privileges, bla-bla-bla, voting  privileges.
Who need these voting privileges on YOUR platform for such of money? People need profit, but you sell them pure air

Does this not mean that we don't own the platform at all so if they ever made money on the name etc we wouldn't be entitled to any of it?

I've seen this semi-disclaimer in at least 3 other ICOs and all of those have made plenty of gains regardless of people thinking the tokens had inherent value. plus, only time and development REALLY show if a token has any true-value.

Many, many tokens are sold with simple blockchain tech behind them and over a year or 2 the platform actually develops what it says it will, and those tokens skyrocket.

Then there's MAIDSAFE...

I think MAID WILL one day go up but its seeming more and more like they're gonna struggle to do what they wanted and another project is gonna come up faster with the same goals.

[Zechis966]

https://www.stellar.org/blog/bitcoin-claim-lumens-2/

Thanks for the answers! Sorry for being so loud haha

very interesting the lumens thing I've never looked into it really as I stick to the projects I know, it's too hard to REALLY inspect the 100s of new projects this year.

I actually currently hold the most of my coins in MGO but I might have to trade for some BTC tomorrow...

I usually hate air drops but hey, I wanted to hodl some btc again anyway. I've been having so much fun with the ICO's that I've neglected hodling eth/btc.

People always bitch about phantom losses when they trade and a coin goes higher, but if you pick the right ICOs and capitalize on discounts, shifts in prices etc, you can make the same or more if you had just hodl'd the btc/eth.

Oh, and OBVIOUSLY you don't wanna invest more than you can lose...I try to tell people this daily here that you could EAT with the money you might lose if you're stupid in cryptos!!!

[satria33]

45000 ETH within two days.
That is an amazing number.
Maybe soon all coins will be sold
Congratulations for your success.
And the bounty hunter will soon enjoy the results

Great just a few days reached 45000 ETH
I think this ico will be success
Good job Team openANX

[ImGenius]

very good project for the Asian continent. hopefully they will be successful.too much and the project team on quality. successful ico. garnered a very good investment. I hope you will contribute to the development.

they will sure do that man. and the ico is already successful, they have reached the soft cap few hours after the ico opened. and now they are only 9M away for the max cap..

here's an update:

TOTAL TOKENS SOLD 21,681,382.10 OAX

$ 16,261,036.58 USD
45,294.10 ETH

this is great. only 8.4 million tokens to go in order to close the ico. cant really wait.
i wonder what exchange the team is planning to list OAX

[lkjhg]

21,748,089.61 OAX

EQUIVALENT TO
$ 16,311,067.21 USD

CONTRIBUTIONS
45,433.46 ETH

SUPPLY FOR TOKEN SA
LE
30,000,000 OAX
RATIO
1 ETH = 478.68 OAX

END OF TOKEN SALE
28DAYS 6:23:15

SOFT CAP FOR OAX TOKENS
13,000,000 OAX

Ithink tomorrow everything coin will be sold

[shenjing85]

Almost 70% of the 30,000,000 OAX are sold as shown in the website and I think it will be sold out in this weekend, if so, the signature campaign will be over just on this Sunday?

[L00n3y]

Almost 70% of the 30,000,000 OAX are sold as shown in the website and I think it will be sold out in this weekend, if so, the signature campaign will be over just on this Sunday?

I think if the tokens are not sold out this sunday and for example; all the tokens are sold in monday the campaign will continue till sunday I think the campaign will end at the week end where the tokens been sold out.

[CORNEL]

Almost 70% of the 30,000,000 OAX are sold as shown in the website and I think it will be sold out in this weekend, if so, the signature campaign will be over just on this Sunday?

If all token get sold out early than signature also will ended early but that is bounty related question so into bounty thread you will get quicker response regarding this question.

[bitvoyager]

Almost 70% of the 30,000,000 OAX are sold as shown in the website and I think it will be sold out in this weekend, if so, the signature campaign will be over just on this Sunday?

If all token get sold out early than signature also will ended early but that is bounty related question so into bounty thread you will get quicker response regarding this question.

I think if the tokens are not sold out this sunday and for example; all the tokens are sold in monday the campaign will continue till sunday I think the campaign will end at the week end where the tokens been sold out.

Thanks for the participation in the bounty, guys!
Watch for announcements from the openANX team in the Bounty thread:
https://bitcointalk.org/index.php?topic=1947373.0

[bitvoyager]

Thanks for the question, adu1t!

Just go to the White Paper and CTRL+F - search "token".    
You'll find a lot of interesting info.

Page 18 - 5.1 Uses of OAX Tokens

"OAX is a token that can be exchanged for memberships in the DAO and/or its association.
Members will be entitled to certain privileges, including but not limited to voting privileges
on major operational decisions relating to the openANX platform."

Most valuable information that I found there is:
Members  are  not entitled  to  any  economic  rights  of  the  Foundation  at  any  time and  Memberships  do not entitle the holder to any distribution of profits nor any claim on any assets.

Everything else is just a bla-bla-bla, voting  privileges, bla-bla-bla, voting  privileges.
Who need these voting privileges on YOUR platform for such of money? People need profit, but you sell them pure air

Agreed, what a joke. I almost invested until I realized these tokens have next to no value.

Thanks for your opinion, guys!

1. "Members  are  not entitled  to  any  economic  rights" - Yes, you are right.  OAX token holders only get privileges of the memberships they own. It is not limited to only voting, ie: third party service provider membership grants ability to be service provider. Possibly something will be changed during the development, there are a lot of forces and deep minds are involved in the process and the platform just gets its final shape.

2. "People need profit", "no value" If you want to know if you'll make money if you'll invest, it's not something that the openANX team can talk about as staff. Ultimately, if people like the project idea, and can understand it now, they could get involved. Later, when a prototype will be able obviously there'll be more interest as people will be able to see what they're getting.

You can exchange OAX once it's tradable on exchanges ( July 29, or possibly earlier if the Token Sale will end sooner)

When the OAX platform will start to work there should be the increasing demand on Token and supply will be dwindling.
"The initial number of issued OAX Tokens is 100,000,000; as there is no planned
inflation, the number of outstanding tokens would be reduced over time as activity
on the openANX platform increases"
Project Deck, Page 23: https://www.openanx.org/en/assets/documents/openANX_Project%20Deck_ENU.pdf

The team is expecting that in the case of success the user base will grow exponentially. Nobody can predict the future though.
You can read more about the Metcalfe's law: https://en.wikipedia.org/wiki/Metcalfe%27s_law

The main aim of the openANX team once the Token Sale will be finished is to concentrate on building a consortium of companies and platforms to integrate,
and the team will do this with the huge passion.

Only you to decide to be involved on the early stage, or later when the working prototype will be released, or just stay an observer.  

[bitvoyager]

slack invitation link anyone?

Try to contact the team and get invited, the invitation link doesn't work for some reason.

Here is the new invitation link to Slack, welcome:

https://join.slack.com/openanx/shared_invite/MjAyNDA2Mjc1MzYzLTE0OTgyMDk2MDktM2Y4NWU2YjFlMA

[16888253]

Almost 70% of the 30,000,000 OAX are sold as shown in the website and I think it will be sold out in this weekend, if so, the signature campaign will be over just on this Sunday?

If all token get sold out early than signature also will ended early but that is bounty related question so into bounty thread you will get quicker response regarding this question.

I think if the tokens are not sold out this sunday and for example; all the tokens are sold in monday the campaign will continue till sunday I think the campaign will end at the week end where the tokens been sold out.

Thanks for the participation in the bounty, guys!
Watch for announcements from the openANX team in the Bounty thread:
https://bitcointalk.org/index.php?topic=1947373.0

so the ICO is done for now?

[bitvoyager]

Almost 70% of the 30,000,000 OAX are sold as shown in the website and I think it will be sold out in this weekend, if so, the signature campaign will be over just on this Sunday?

If all token get sold out early than signature also will ended early but that is bounty related question so into bounty thread you will get quicker response regarding this question.

I think if the tokens are not sold out this sunday and for example; all the tokens are sold in monday the campaign will continue till sunday I think the campaign will end at the week end where the tokens been sold out.

Thanks for the participation in the bounty, guys!
Watch for announcements from the openANX team in the Bounty thread:
https://bitcointalk.org/index.php?topic=1947373.0

so the ICO is done for now?

No, the Token Sale is still going.
The clear announcements about any changes to the Bounty program will be posted at its thread.