Ox has an altogether different concept compared to other decentralized protocols. Aside from acting as an eBay-style digital goods marketplace, an OTC or over-the-counter trading desk, and a DeFi protocol, the Ox network is an exchange platform for developers, especially those who want to create their own crypto exchanges.
MoreOperating over a shared infrastructure, Ox utilizes smart contracts and combines AMM or Automated Market Marker and State channels strategies to ensure issues-free trades and transactions. Additionally, Ox has makers and takers – the makers are the ones who create or make the orders while the takers are the ones who fill up these orders.
MoreThe Ox protocol’s Ethereum token is ZRX, which is used for voting on the blockchain’s improvement proposals (governance) and staking or paying Relayers their trading fees. ZRX is available on any crypto exchange network, specifically on Coinmerce.
MoreYou want to buy Ox? You can buy Ox using Creditcard or SEPA at Coinmerce. Once you are logged in, you will see "Coins" in the top menu where you click on. Now you come to a page with all crypto coins that Coinmerce offers. If you don't see Ox, use the search function to search for Ox and click on the name. You can indicate for how many euros you want to buy Ox in the right window. Below is shown how much Ox you get for this. Have you entered the correct amount? Then click on "Buy". You can also execute a "Stop limit order" at Coinmerce. Our system will automatically buy Ox when the price of Ox reaches your entered value. You can also execute a repeating order. Do you want to buy Ox with another crypto currency? Then you go to the cryptocurrency you want to pay with and click on "Swap" in the right window to indicate that you want to receive Ox.
Ox was established in 2016 by Amir Bandeali and Will Warren. Their goal was to create an Ethereum-based blockchain protocol where any Ethereum token can be traded and a platform where anybody can build their own DEX or decentralized exchange. One of them describes the protocol as the cryptocurrency world’s Craigslist, especially since developers can post their DEX online. The protocol combines AMM and State channels, two strategies that are essential in ensuring the smooth flow of transactions and trades over shared infrastructures. Automated Market Makers help two parties trade and facilitates such, specifically when a particular cryptoasset threshold is reached. Ox’s initial coin offering took place in July 2017. The platform had 12,000 backers and raised approximately $24 million ETH (or Ether), the Ethereum network cryptocurrency. Strong support came from respected venture capitalist companies like Pantera Capital and Blockchain Capital. The ICO also sold ZRX tokens totaling to 500 million.