NEW YORK CITY — May 15, 2018 — OAX Foundation Limited and Enuma Technologies are pleased to announce they are further strengthening their cooperation in developing a new decentralized exchange platform for the trading of digital assets.
The current system of centralized exchanges and decentralized platforms has inherent weaknesses which limit its potential to service the rapidly developing digital asset market. These weaknesses are also a hindrance to widespread acceptance of tokens as an asset class. The OAX project is addressing these shortcomings by helping improve the liquidity of the market and increasing its efficiency, thereby making digital asset trading more transparent, orderly and secure.
Enuma Technologies is a leading blockchain engineering firm which has successfully designed and executed a variety of enterprise projects for companies across the USA and Asia. It has taken on the role of lead developer of the OAX project, where it will be responsible for all aspects of project development, including ensuring the integration of governance standards and KYC and AML controls.
Enuma was recently awarded a grant by the Ethereum Foundation to help further the implementation of Sprites technology applications. The OAX project is one of the first in the world to use Sprites, which addresses shortfalls in existing payments channels that limit transaction volumes. It will help increase the speed of transactions over the OAX platform whilst reducing collateral cost.
Enuma Technologies’ role will be partly funded by currently existing OAX token allocations available to the OAX Foundation for this purpose.
Amanda Liu, General Manager of OAX Foundation, said, “Enuma Technologies has been involved with OAX from the earliest days of the project. As one of the world’s foremost blockchain engineering firms, they are ideally placed to lead the development through its critical next phase as we prepare to launch the project prototype.”
Antoine Cote, CEO and Co-Founder of Enuma Technologies, said, “OAX Foundation is a pioneer and innovator in the decentralized exchange space with great vision and strong execution capabilities. Enuma is committed to helping build an evolutionary system which will benefit the blockchain community.”
About OAX Foundation
OAX Foundation Limited is a Hong Kong-based, not-for-profit entity set up to promote the real-world application of the OAX platform, an open, transparent and decentralized exchange for digital assets. It aims to build a sustainable digital asset industry based on principles of strong governance.
About Enuma Technologies
Enuma Technologies is a leading engineering firm with expertise covering the full blockchain spectrum. As an early entrant into the blockchain space, Enuma has enabled enterprises to explore and implement cutting edge technologies to gain competitive advantage. Enuma has successfully designed and executed a number of high profile projects including blockchain platforms, crypto-asset exchanges, payment, identity and security solutions.
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