Following last week’s successful launch of the OAX decentralized exchange platform prototype, the OAX Foundation announced they will be airdropping 5,000,000 OAX tokens to reward token holders for their commitment to the project. Secondly, the Foundation informed that there will be no token sale this year as OAX has sufficient financial resources to fund its current development program.
The airdrop will take place between July 16th, 2018, and Jan 15th, 2019. The airdrop will be allocated based on the level of token holdings utilizing a specific formula that will be announced soon and which encourages commitment to the project.
Over the next few months, the OAX Foundation plans to announce some more strategic partnerships and new projects to position themselves for the platform going fully live in 2019.
Prior to the prototype launch, back in May, OAX announced the strengthening of its relationship with Ethereum Foundation grant winning Enuma Technologies, who is leading the development of the OAX platform.
For the project’s second phase, the development team will be busy deploying SPRITES, a new blockchain technology that will create a decentralized solution combining speed, high transaction volume, and lower cost.
The OAX Foundation team said:
“We are confident that this new technology, together with our decentralized, shared order books, will help to elevate the OAX Platform to the next level, realizing the full potential and value of the project thereby maximizing the liquidity of the ecosystem.”