“Get Set, GO!!!”

OAX Project Q4 Roadmap Update — Technology Stream

By Hugh Madden and Liam Bussell

Things are moving fast over here, with the charter now ready. We have a firm outline of the deliverables and work has commenced. Below is the first of 3 blog posts that outline the “3 pillars” of the OAX roadmap — Technology, Regulatory and Community. We will cover these 3 concepts in a series of 3 blog posts this week.

The charter for the OAX project is to deliver the technology, legal framework, and ecosystem to ultimately replicate the functionality of the current centralised model for trading of Ethereum assets. The objective is to introduce decentralised digital assets with bridging and accessibility to traditional payment systems and fiat currencies.

The three pillars of the project include product and technology development, a legal and regulatory framework, and ecosystem.

The long term deliverables of the technology stream include:

Delivery of a decentralised, Ethereum based platform for:

  1. The support of FIAT and off-chain asset gateway, with support for locked collateral (Posted as Ether)
  2. A registry of supported gateways and digital asset trading pairs
  3. A system of membership which can be redeemed with OAX tokens
  4. Integrated compliance code allowing the platform participants to utilise the system in a legal and compliant manner (which will differ per the domeciled and serviced jurisdictions of each participant)
  5. Integrated dispute resolution system
  • Integration to major decentralised exchange protocols
  • (optional) development of a custom decentralised exchange protocol if other industry offerings do not meet the requirements of the OAX platform, specifically:
  1. Trading and support for the platform’s compliance enabled fiat tokens
  2. Liquidity aggregation through multi dimension asset matching

• Development of a reference API & UI that allows:

  1. Display and metrics of asset gateways
  2. Display and transfer of memberships
  3. Display and metrics of enabled compliance gateways
  4. Community incentivised support
  5. Display of market data, chartings, and navigation of supported trading platforms
  6. Integrated trading through supported exchange protocols
Technology Stream

Technology and Product Delivery

An initial engineering delivery team has been engaged and further announcements will be made in the next two weeks regarding the specifics of this. The immediate focus of the team is as follows:

  • Delivery of a working off-chain, collateralised token framework
  • Governance framework and upgrades procedure for the platform
  • Development of an integrated system for KYC/AML/compliance related to these tokens
  • Adoption of proposals of an industry standard approach for each of the above by means of an Ethereum Request for Comment (ERC)
  • Delivery of an integrated platform through which the OAX tokens can be redeemed for memberships
  • Delivery of a dispute resolution framework system
  • A reference API and UI to interact with the platform

The project team believes the rapid scaling of the engineering team will slow project velocity overall; the staffing strategy is to initially gain momentum with a small experienced team to lay the underlying data and architectural building blocks. After this the engineering team can be scaled to allow additional delivery velocity.

Tomorrow we will cover the legal and regulatory pillar in “OAX Project Roadmap — Legal and Regulatory Stream”