[Crypto projects](https://revain.org/projects/) › OAX

# OAX: how it works, supply and reviews

## In short

- **Type**: ERC-20 token on Ethereum (contract listed by Etherscan as OpenANX (OAX)).
- **Max total supply**: 100,000,000 OAX on the Ethereum contract.
- **Risks and caveats**: The foundation says any losses from OAX transactions are the holder's own responsibility.
- **Checked**: 1 November 2026

## Key facts

- **Ticker**: OAX
- **Official site**: [oax.org](https://www.oax.org/)

Key facts checked on 1 November 2026 against official sources.

## What is OAX

OAX is the ERC-20 token of the openANX project, run by the Hong Kong-based OAX Foundation. The foundation calls itself a project-driven blockchain foundation; it built a Layer 2 decentralized exchange protocol (L2X) and Polkadot parachain features, and now supports AI and Web3 apps.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | ERC-20 token on Ethereum (contract listed by Etherscan as OpenANX (OAX)). |
| BNB Smart Chain | Wrapped BEP-20 OAX launched in April 2021 via Binance Bridge, pegged to the ERC-20 token. |
| Layer 2 protocol | L2X: a trustless, non-custodial Layer 2 exchange protocol with on-chain dispute resolution, released in August 2019. |

## Supply and issuance

| Parameter | Details |
|---|---|
| Max total supply | 100,000,000 OAX on the Ethereum contract. |
| Holders | 7,512 addresses hold the ERC-20 token (Etherscan). |

## What OAX is used for

- In 2020 the foundation said its Polkadot parachain work aimed to increase utility for the OAX token.
- In 2021 OAX was wrapped as a BEP-20 token to open DeFi opportunities on BNB Smart Chain.

## Who develops and governs OAX

- **Issuer**: OAX Foundation Limited, Hong Kong.
- **Self-description**: A project-driven blockchain foundation that develops open-source software.
- **Development partner**: The L2X protocol was built with development partner Enuma Technologies.
- **Community**: Official Telegram group with about 10,481 members.

## History

| Date | Event |
|---|---|
| 2017 | The OAX Foundation is set up. |
| 12 August 2019 | The foundation releases the code of its Layer 2 Exchange (L2X) protocol. |
| 11 February 2020 | OAX announces a strategic initiative to build a parachain on the Polkadot network. |
| 8 April 2021 | OAX explains its new wrapped BEP-20 token on Binance Smart Chain. |
| 3 January 2023 | OAX launches Notifs, a portfolio tracking app. |
| August 2026 | GMAsia, an AI literacy initiative backed by the foundation, launches. |

## Security and audits

- L2X was designed so users do not have to trust the exchange to keep balances or execute orders and can lodge disputes on-chain.

## Security incidents

No security incident is recorded in the sources checked on 1 November 2026 (the company’s own channels and incident databases): [defillama.com/hacks](https://defillama.com/hacks), [hacked.slowmist.io](https://hacked.slowmist.io/), [rekt.news/leaderboard](https://rekt.news/leaderboard), [oax.org/blog](https://www.oax.org/blog/), [t.me/s/openanxteam](https://t.me/s/openanxteam)

## Official OAX contracts

| Network | Contract address |
|---|---|
| Ethereum | [0x701C244b988a513c945973dEFA05de933b23Fe1D](https://etherscan.io/token/0x701C244b988a513c945973dEFA05de933b23Fe1D) |

## Risks and caveats

- The foundation says any losses from OAX transactions are the holder's own responsibility.
- The official Telegram channel warns users about scams.

## Official links

- Website: [www.oax.org](https://www.oax.org/)
- About: [www.oax.org/about](https://www.oax.org/about/)
- Resources: [www.oax.org/resources](https://www.oax.org/resources/)
- Blog: [www.oax.org/blog](https://www.oax.org/blog/)
- Ethereum contract (Etherscan): [etherscan.io/token/0x701C244b988a513c945973dEFA05de933b23Fe1D](https://etherscan.io/token/0x701C244b988a513c945973dEFA05de933b23Fe1D)
- Telegram: [t.me/openanxteam](https://t.me/openanxteam)

## Questions and answers

**What is OAX coin?**

OAX is the ERC-20 token of the openANX project, issued by the Hong Kong-based OAX Foundation, with a maximum supply of 100 million on Ethereum.

**Is OAX still active?**

The OAX Foundation still publishes updates (latest 30 October 2026) and supports projects such as GMAsia and Notifs, but its current website no longer presents the OAX token.

**Is there a BEP-20 version of OAX?**

Yes. In April 2021 the foundation introduced a wrapped BEP-20 OAX on BNB Smart Chain, pegged to the ERC-20 token.

**What is openANX?**

openANX was the project's original name; the OAX Foundation built the L2X Layer 2 decentralized exchange protocol, released in August 2019.

## Sources

- [OAX Foundation - Home](https://www.oax.org/)
- [OAX Foundation - About](https://www.oax.org/about/)
- [OAX Foundation - Resources](https://www.oax.org/resources/)
- [OAX BEP-20 Token and Working on Binance Smart Chain (2021)](https://www.oax.org/2021/04/08/OAX-BEP-20-Token-and-Working-on-Binance-Smart-Chain.html)
- [OAX Foundation releases new exchange protocol (2019)](https://www.oax.org/2019/08/12/OAX-Foundation-releases-new-exchange-protocol.html)
- [OAX Foundation to Build on Polkadot Network (2020)](https://www.oax.org/2020/02/11/OAX-Foundation-to-Build-on-Polkadot-Network.html)
- [OAX Launches Notifs (2023)](https://www.oax.org/2023/01/03/OAX-Launches-Notifs.html)
- [October 2026 Community Updates](https://www.oax.org/2026/10/30/October-2026-Community-Updates.html)
- [Etherscan - OpenANX (OAX)](https://etherscan.io/token/0x701C244b988a513c945973dEFA05de933b23Fe1D)
- [OAX Telegram](https://t.me/s/openanxteam)

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Page updated: 2026-11-01

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Source: https://revain.org/projects/oax/