[ANN] - OAX Foundation

[seek4dream]

Hi everyone. I am coordinating a lawsuit against Hugh and the OAX team for the binance pump and dump. I have proof and screenshots that they coordinated the price to pump and then simultaneously dumped their holdings before it hit the exchange. I am serious in getting a lawyer and getting action here. Please PM me if you want to be represented in this class action lawsuit.

Hey IhateICO's welcome back. A class action lawsuit? Can I ask what proof you have? I may work on the project but I'm also a token holder and I have no evidence of that whatsoever. I have not sold a single token. The teams tokens are all locked, second sale tokens are locked, you can inspect the smart contract. You can also check etherscan for token holders and many of our larger token holders have yet to move their tokens. The price is down, totally agree and empathize, but there's reason to be spreading FUD please.

Maybe he just hates lots of ICOs since he is named IhateICOs.
I don't think he is serious at all.
Please keep up your work and deliver something great ASAP.

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[Ciucas]

So this coin's price is lower than the ICO price.. I don't understand what went wrong, it seemed like a good ICO at the time

[bitvoyager]

One week now since I have been told they will unlock my tokens? nothing, even after 3 emails.. This looks doggie to me! DO they have an office or something? Maybe it is time for me to go and visit then maybe make a video about it on my channel. What do guys think is happening?

Hello Kalo12, I passed the info to the team and to the Louis personally one more time.
Your tokens should be activated ASAP. Sorry for delay. Don't worry please.

Hey Kalo12, got the info from the team that your tokens have been activated.
You should get an email regarding this, check you mailbox please.

[bitvoyager]

Hugh Madden, OAX Director, on Slack today

- i've been busy working on delivering everything that is needed to get the first gateways up and running all
  sorry for my prolonged silence, busy trying to get things done

- from a leadership perspective i am one of the directors. one of our first and most important priorities was to establish an executive leadership team with senior
  banking relationships and experience. In my view the most important success factor for decentralised exhange trading to succeed is liquidity - and banking on and
  off ramps are key to that.
  good news coming on that front shortly as soon as the marketing team can get the press together.

- i think the critism about lack of presence here to engage and take questions is completely valid, i'll make more time in the day to stop and and stay engaged.
  we aren't really a "hype" team we are busy trying to engage professionals and establish the legals and banking relationships to make this work. banking and legal
  partnerships are slow protracted engagements - it's not as quick as smashing out a bit of code or posting misleading "hype". we are trying to do this for real; which
  means compliance teams and legal opinions and a long hard slog of producing what is needed to present something that allows the financial sector to engage with
  an accept risk profile regards compliance an AML.

- sorry DT i have no interest in your "weeks end" statements etc. these sorts of relationships take months.
  but all the same i can see you are thinking along the same lines as us, with regards to what is required

- our marketing team is underweight now, some some maternity leave and sickness, we are hiring. It's a hard time of year though in Dec because everyone is
  waiting for their new year bonuses. but all the same yep marketing needs to ramp up again. we've been trying to knock off some of the important milestones
  however so we have something to talk about

- relationships and agreements will be discussed when they are established and not before. speculation of such can only endanger in flight discussions, and so there
  is no way i would ever comment.
  what i can tell you is banking relationships for gateways are our number one priority, and in our view the critical success factor in all projects related to DEX.
  i'm am not going to speculate. i'll debate on whether that is the right priority and strategy.

- perhaps we don't have the same view on what good news is :slightly_smiling_face:
  in my view there is strong progress on all fronts, legal, structure, and technology.
  i would love to be able to state the legal, entity structures, global banking partnerships are in place, but it takes time.
  all i can state is there is a senior experienced team working on exactly this.
  if think if you ask most projects about their headway into banking relationships, you'll hear stories of 1 and 2 year lead times just to engage with a large
  international bank.
  DT: all the same i appreciate your cynicism.

- do you follow on similar and related projects, focusing on banking integration with public crypto currencies and related projects ?
  that would be a valuable contribution to the conversation.
  there was a rumour for example that tenx was going for a banking license i believe, would be very interesting if they managed to do that.
  but .. getting a banking license (i've done a project doing just that in my past) is a large undertaking in any serious jurisdiction.
  my typos are atrocious :wink:
  in case you mis-characteristic my comment, we are not going down that route
  but point is very interested in various ways of bridging public crypto economies and legacy banking
 
- no problems, i should be on here more often.
  cynicism is fine and healthy. I'm pushing the team to provide some updates now, to down tools and stop to communicate sometimes!


Read the full conversation on the official OAX Slack: https://join.slack.com/t/openanx/shared_invite/enQtMjc2MTk2MzMyMTk3LWVlY2JhZWVjZTEyNDBjY2M0NGEzN2Q4YjA5M2FlYjEyZGIyYTQxZWU5ZWI2MmQyNzhiMGVkMzNjOTRlNmUxOGM



OAX ON EXCHANGES - NEW BOUNTY PROGRAM - WEBSITE - PROJECT DECK - WHITE PAPER - TECH WHITE PAPER - TEAM  
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[AsiaNexgen]

Hi everyone! How are things over here?

[AsiaNexgen]

Hi Guys! Grin

Just wanted to let you know about a new competition we have started for the Holiday period (Christmas, or Holidays, New Year, or Hanukkah or whatever you celebrate)

We are calling it "Centralized Stories"

You can read the full details over here.
https://medium.com/@OAX_Foundation/centralized-stories-community-competition-4f6f716c2e6e

Basically, may of us on the project, and many of our friends and colleagues in the crypto world have stories of having issues with other people or companies holding your keys. (Centralized Exchanges)

Some of these stories are funny, some are sad and some just make you  Huh We thought we'd collect them and share them via Twitter or other social media. You can post them here, you can post on Twitter (if they fit) (@OAX_Foundation)

or post to Facebook
https://www.facebook.com/oaxfoundation/photos/a.1570118639693488.1073741828.1570067026365316/1609036342468384/?type=3&theater

You can even post it on our "Bounty" channel over on Slack

or even email us at communitymgmt@oax.org

The best few stories (as judged by us or the community for those with an overwhelming response) will win 50 OAX!

The Best Story of the whole period (from now until Feb 1st) will

win 500 OAX and a "Founding OAX Membership" for the Association when it goes live (YES! I'm serious!, you could be one of the first names on the list of Association Members!

NUMBER #1 NUMBER #1 NUMBER #1!

This is outside the normal Bounty program and entry is open to ANYONE!

[lemoon789]

I used to buy OAX with 0.5BTC, as of November, I only have 0.15BTC, very painful energy, I did not wait for it to grow, and then bought Litecoin directly, the loss back up

[Dvd1989]

I used to buy OAX with 0.5BTC, as of November, I only have 0.15BTC, very painful energy, I did not wait for it to grow, and then bought Litecoin directly, the loss back up

Well the loss in Satoshi (BTC) is not only due to the declining price of OAX, but also because of the insane growth of BTC. I agree it's painful for investors. A lot of projects that I invested in last August were less profitable compared to holding BTC. It's sad but it's crypto.

[z0n0]

I love the idea of this competition! It's important people see how many bad stories are there with centralized exchanges and how important is to have good secure decentralized exchange like OAX will be!

[bitvoyager]

The OAX official site have been updated today

Welcome to check new sections, team, partners > https://oax.org/en


OAX ON EXCHANGES - NEW BOUNTY PROGRAM - WEBSITE - PROJECT DECK - WHITE PAPER - TECH WHITE PAPER - TEAM  
SLACK - TELEGRAM - FACEBOOK - TWITTER - REDDIT - LINKEDIN - GOOGLE+ - MEDIUM - YOUTUBE - STEEMIT - GOLOS

[gerymakgyaer]

New member onboard!

This is our honor to welcome new members, who will bring a variety of experience, into our OAX team!
 
Our new General Manager, Amanda Liu, brings with her decades of invaluable experience in investment and corporate banking. Prior to OAX, Amanda had been Managing Director, Head of Corporate & Investment Banking Hong Kong at Banco Santander and Director, Head of Large Corporate at ANZ, serving top-tier Hong Kong-listed companies and building the respective team for ANZ in Hong Kong.
 
Our new Executive Director — Corporate Finance, Winnie Mak, has had extensive experience in public equity research as well as private equity investment. Before joining the OAX team, Winnie had been Director of Equity Research at Deutsche Bank.
 
Our Senior Advisor, William Barkshire, had been engaged in senior roles within major exchanges, post-trade services and alternative trading platforms in Asia, Europe, and the United States. Prior to joining OAX, he had been Co-President and Executive Director and Chief Operating Officer at the Hong Kong Mercantile Exchange (HKMEx), and Director of Corporate Strategy at London Stock Exchange (LSE) and London Clearing House.

https://medium.com/@OAX_Foundation/new-member-onboard-34497f1d7ba8

[hardalisas]

New member onboard!

This is our honor to welcome new members, who will bring a variety of experience, into our OAX team!
 
Our new General Manager, Amanda Liu, brings with her decades of invaluable experience in investment and corporate banking. Prior to OAX, Amanda had been Managing Director, Head of Corporate & Investment Banking Hong Kong at Banco Santander and Director, Head of Large Corporate at ANZ, serving top-tier Hong Kong-listed companies and building the respective team for ANZ in Hong Kong.
 
Our new Executive Director — Corporate Finance, Winnie Mak, has had extensive experience in public equity research as well as private equity investment. Before joining the OAX team, Winnie had been Director of Equity Research at Deutsche Bank.
 
Our Senior Advisor, William Barkshire, had been engaged in senior roles within major exchanges, post-trade services and alternative trading platforms in Asia, Europe, and the United States. Prior to joining OAX, he had been Co-President and Executive Director and Chief Operating Officer at the Hong Kong Mercantile Exchange (HKMEx), and Director of Corporate Strategy at London Stock Exchange (LSE) and London Clearing House.

https://medium.com/@OAX_Foundation/new-member-onboard-34497f1d7ba8

I believe it is some good news.
You OAX team is getting stronger now.

[CageKennylz]

I bought in at ICO and I remember in the whitepaper you guys said you would have an additional token sale after prototype release? Is this still going ahead and if it is, how many OAX coins will be for sale, and at what price? I guess the initial ICO $10m was not enough to make a website eh? Tbh I think you should just lock those coins and forget the additional token sale, it's a silly idea all round to have a second token sale after it is on multiple exchanges.....

[standards]

I bought in at ICO and I remember in the whitepaper you guys said you would have an additional token sale after prototype release? Is this still going ahead and if it is, how many OAX coins will be for sale, and at what price? I guess the initial ICO $10m was not enough to make a website eh? Tbh I think you should just lock those coins and forget the additional token sale, it's a silly idea all round to have a second token sale after it is on multiple exchanges.....

I also wonder how the second round sale will proceed.
Will it sell above or under market price?

[bitvoyager]

I bought in at ICO and I remember in the whitepaper you guys said you would have an additional token sale after prototype release? Is this still going ahead and if it is, how many OAX coins will be for sale, and at what price? I guess the initial ICO $10m was not enough to make a website eh? Tbh I think you should just lock those coins and forget the additional token sale, it's a silly idea all round to have a second token sale after it is on multiple exchanges.....

I also wonder how the second round sale will proceed.
Will it sell above or under market price?

Hello CageKennylz and standards. I answered almost the same questions on Telegram. Here is it.

The second ICO was initially planned on Q2 2018
WP, page 17 - https://www.openanx.org/en/assets/whitepaper/openANX_White_Paper_ENU.pdf

But there was an update in August regarding this matter:
"Due to this likely underspend; it is not clear that a second token sale will be required in 2018."
https://medium.com/@OAX_Foundation/oax-q4-roadmap-update-community-and-engagement-stream-9b699f668322

These tokens locked in the Contract untill the Q2 2018 and nothing can be implemented to them until then.
So there is some time ahead for taking decisions.  

Here is the answer from Liam Bussell, Head of marketing to this question:
"Honestly, nothing has been confirmed yet.
The reason for this is that the tokens are locked in the smart contract until the time period of the second sale anyway (Q2 2018)
We won’t be keeping them. There’s 3 options basically:
burn, airdrop or push second sale until 2019 when the platform is live"
https://medium.com/@OAX_Foundation/oax-development-ama-1-transcript-a02a173ccd8b

My personal opinion is that burn and airdrop are not the best options, I'd leave these tokens locked until 2019 or possibly even longer.
And then act according to the situation. A lot of things can change, a lot depends on the memberships prices and other prices on future platform.
There is a deflational system should be itself - pages 22-23 in Project Deck:
https://www.openanx.org/en/assets/documents/openANX_Project%20Deck_ENU.pdf

Possibly these tokens will be needed for something else in the future. So, my opinion is that there is no need in hurry. Let's wait and see.
The team is adequate and I think nobody will do something for the deterioration of the situation and unregulated emissions and inflation.

[hardalisas]

I bought in at ICO and I remember in the whitepaper you guys said you would have an additional token sale after prototype release? Is this still going ahead and if it is, how many OAX coins will be for sale, and at what price? I guess the initial ICO $10m was not enough to make a website eh? Tbh I think you should just lock those coins and forget the additional token sale, it's a silly idea all round to have a second token sale after it is on multiple exchanges.....

I also wonder how the second round sale will proceed.
Will it sell above or under market price?

Hello CageKennylz and standards. I answered almost the same questions on Telegram. Here is it.

The second ICO was initially planned on Q2 2018
WP, page 17 - https://www.openanx.org/en/assets/whitepaper/openANX_White_Paper_ENU.pdf

But there was an update in August regarding this matter:
"Due to this likely underspend; it is not clear that a second token sale will be required in 2018."
https://medium.com/@OAX_Foundation/oax-q4-roadmap-update-community-and-engagement-stream-9b699f668322

These tokens locked in the Contract untill the Q2 2018 and nothing can be implemented to them until then.
So there is some time ahead for taking decisions.  

Here is the answer from Liam Bussell, Head of marketing to this question:
"Honestly, nothing has been confirmed yet.
The reason for this is that the tokens are locked in the smart contract until the time period of the second sale anyway (Q2 2018)
We won’t be keeping them. There’s 3 options basically:
burn, airdrop or push second sale until 2019 when the platform is live"
https://medium.com/@OAX_Foundation/oax-development-ama-1-transcript-a02a173ccd8b

My personal opinion is that burn and airdrop are not the best options, I'd leave these tokens locked until 2019 or possibly even longer.
And then act according to the situation. A lot of things can change, a lot depends on the memberships prices and other prices on future platform.
There is a deflational system should be itself - pages 22-23 in Project Deck:
https://www.openanx.org/en/assets/documents/openANX_Project Deck_ENU.pdf

Possibly these tokens will be needed for something else in the future. So, my opinion is that there is no need in hurry. Let's wait and see.
The team is adequate and I think nobody will do something for the deterioration of the situation and unregulated emissions and inflation.

I agree with you here.
Just leave these tokens locked until 2019 or possibly even longer.

[ealarry]

November was the most painful time for me because only one third of my OAX / btc had fallen, and then I took a timely stop-loss to buy the ether, so far, I only got 1 times the profit

[carlosvaldes]

November was the most painful time for me because only one third of my OAX / btc had fallen, and then I took a timely stop-loss to buy the ether, so far, I only got 1 times the profit

that is bad.i also think oax is disappointing.but the token up 30% today.

[IhateICOs]

Hello, if you see OAX and are thinking of buying it because its green DO NOT BUY IT! The devs are only here to scam you, they took the 25 million and ran and then went to another project with Hugh. There has been no progress on this project and it has been on a disgusting downward spiral since the ICO (still below ICO price). The team refuses to answer tough questions like

"Why don't you care about the price of your token?"
"Why don't you care about getting this token on a real exchange?"
"Why are you still trying to have another ICO when the first one was a failure?"
"Where are the updates or code? It has been 6 months since ico and and all you've done is update the site!"

Additionally, the devs were colluding to pump the price up before the Binance listing (as you can see in the comments earlier in this thread) and they coordinated a dump right before it hit the exchange (they sold millions of dollars of their own tokens). This is illegal but what can you expect from greedy ex-bankers.

OAX Team, if you want people to get faith in your token start pumping up the price and get it on a real exchange like Bittrex or Poloniex. Otherwise people will still distrust you and not buy your tokens or use them (even if the exchange turns out to be a good working product).

[bitvoyager]

Hello, Well-wisher! It's nice to see your FUD here again.

"if you see OAX and are thinking of buying it because its green DO NOT BUY IT!"
- Everyone decides for him/herself when and what to buy.
  The OAX Foundation doesn't comment on the secondary markets and doesn't force anyone to buy its tokens.

"The devs are only here to scam you, they took the 25 million and ran and then went to another project with Hugh"
- False. Nothing to comment. Anyway you may check conversation with Hugh on the Slack couple days ago.
  Just for you to better understand the project:
  https://bitcointalk.org/index.php?topic=1943946.msg26265876#msg26265876

"There has been no progress on this project and it has been on a disgusting downward spiral since the ICO (still below ICO price)."
- There is a progress. Just check Medium with last announcements, gitlab, devs journal etc. Yes, below. "disgusting downward spiral" - sounds poetic, but doesn't corresponds the reality. Anyway nobody from the Foundation promised the "moon in the nearest days". It was said many times all over all channels that this is a long-term project, the first prototype will be released in Q2 2018 etc. In fact anyone could/can read this in the WP and check in the project road map.  

"Why don't you care about the price of your token?"
- The market determines the price. Demand and proposition. The Foundation can't influence on the token price directly. Only by ideas, plans and actions. The OAX team is growing, learning and working hard on the project. As soon as the OAX perspectives and activity results will impress the market participants, investors and traders the demand will change and the OAX price will change.

"Why don't you care about getting this token on a real exchange?"
OAX is already trading on 6 Exchanges (Binance, Liqui, AnxPRO, Etherdelta, HitBTC, Qryptos)
Bitrex - "Launching is free and at our discretion"
https://support.bittrex.com/hc/en-us/articles/202583854-Submitting-a-Coin-to-Bittrex
Poloniex - "We do not accept payment for listing. We don't have a definitive set of criteria as each project is unique."
https://poloniex.freshdesk.com/support/solutions/articles/1000229325-how-can-i-get-a-coin-listed-on-poloniex-
Both exchanges decide themselves which token and when to add. You can't influence this.
Quite possibly OAX will be listed there and on many other exchanges someday. But let's don't speculate on this now.
OAX Foundation was possibly one from only some token sales organizers in the summer which didn't speculate on the question of exchanges and will never do this.  

"Why are you still trying to have another ICO when the first one was a failure?"
Absolutely false. Just read my post above:
https://bitcointalk.org/index.php?topic=1943946.msg26486025#msg26486025

"Where are the updates or code? It has been 6 months since ico and and all you've done is update the site!"
You can monitor the progress here:
1. Gitlab - https://gitlab.com/oax
2. Mockups - https://modao.cc/flows/InUGhKMaeHp7XgJDYv1yweIAKLJ8u0N
3. Developers journal - https://www.notion.so/Journals-a1c1a14d8aa84fceb648a33ad8211791

"Additionally, the devs were colluding to pump the price up before the Binance listing (as you can see in the comments earlier in this thread) and they coordinated a dump right before it hit the exchange (they sold millions of dollars of their own tokens). This is illegal but what can you expect from greedy ex-bankers."
Liam Bussell, Head of Marketing, answered you already a couple days ago:

Hey IhateICO's welcome back. A class action lawsuit? Can I ask what proof you have? I may work on the project but I'm also a token holder and I have no evidence of that whatsoever. I have not sold a single token. The teams tokens are all locked, second sale tokens are locked, you can inspect the smart contract. You can also check etherscan for token holders and many of our larger token holders have yet to move their tokens. The price is down, totally agree and empathize, but there's no reason to be spreading FUD please.

"OAX Team, if you want people to get faith in your token start pumping up the price and get it on a real exchange like Bittrex or Poloniex."
- Do you propose to manipulate the price? Read the answers above one more time and try to understand the position of the OAX Foundation regarding this matter.

"Otherwise people will still distrust you and not buy your tokens or use them"
- Let's people decide for themselves what to buy and how and when to use it.

"(even if the exchange turns out to be a good working product)"
- AGREE. It should be a good huge platform for integration of the whole cryptomarket with a real world.
You can find more information about the future "working product" here:
https://www.openanx.org/en/assets/documents/openANX_Project%20Deck_ENU.pdf


OAX ON EXCHANGES - NEW BOUNTY PROGRAM - WEBSITE - PROJECT DECK - WHITE PAPER - TECH WHITE PAPER - TEAM  
SLACK - TELEGRAM - FACEBOOK - TWITTER - REDDIT - LINKEDIN - GOOGLE+ - MEDIUM - YOUTUBE - STEEMIT - GOLOS