openANX Token (OAX) API and Price Oracle

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openANX Token

OAX
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0x701C...Fe1D
Network
Blockchain network where the asset is deployed
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Ethereum
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is openANX Token (OAX)?

openANX Token (OAX) is a cryptocurrency that was created with the goal of improving the transparency and security of decentralized exchanges. It was founded in 2017 by OAX Foundation Limited. The token is used to facilitate transactions on the openANX platform, which aims to make trading digital assets safer, more accessible, and more efficient. OAX utilizes blockchain technology to enable peer-to-peer trading without the need for intermediaries. Its name, openANX, reflects its commitment to open-source development and decentralization.

How does openANX Token work?

The openANX Token works as a utility token within the openANX platform, which is built on the Ethereum blockchain. The platform is designed to enable the trading of both traditional and digital assets in a decentralized manner.

The openANX platform operates using a combination of smart contracts and blockchain oracles. Smart contracts are self-executing contracts with the terms of the agreement directly written into code. These contracts facilitate the automation and execution of transactions within the openANX ecosystem.

Blockchain oracles play a crucial role in the functioning of the openANX platform. They act as external information providers, supplying verified data from outside the blockchain to smart contracts. This data can include information about asset prices, market data, and other relevant information needed for trading.

By leveraging blockchain technology and oracles, openANX provides transparency and security in asset trading. Users can trade assets directly on the platform, and the openANX Token acts as a means of exchange within the ecosystem. It can be used to pay for transaction fees, access premium features, and participate in the platform's governance mechanisms.

Overall, the openANX Token works by utilizing smart contracts and blockchain oracles to facilitate decentralized asset trading on the Ethereum blockchain. It aims to provide a transparent and efficient trading experience for users within the openANX ecosystem.

What are the benefits of openANX Token?

The openANX Token offers several benefits that distinguish it from its direct competitors. Firstly, openANX Token is built on the Ethereum blockchain, which provides a secure and decentralized platform for the token's operations. This enhances the overall transparency and reliability of the openANX ecosystem.

Compared to its competitors, openANX Token also offers stronger liquidity and accessibility. The token is listed on multiple major exchanges, which ensures that users can easily buy, sell, and trade the token without any significant hurdles. This level of liquidity enables users to take advantage of market opportunities and ensures a smooth user experience.

Another standout feature of openANX Token is its focus on user protection and security. The platform incorporates advanced security measures, including multi-signature wallets, to safeguard user funds. This commitment to security sets openANX Token apart from its competitors and provides users with peace of mind when using the platform.

Furthermore, openANX Token offers voting rights and governance functionalities to token holders. This enables community-driven decision-making and ensures that users have a say in the platform's development and evolution. This democratic approach distinguishes openANX Token from its competitors and fosters a sense of ownership among its user base.

Overall, openANX Token stands out for its robust security measures, liquidity, accessibility, and community-driven governance. These features give it a competitive edge compared to its direct competitors in the blockchain token space.

What is openANX Token used for?

The openANX Token (OAX) is a cryptocurrency token that serves multiple purposes within the openANX platform. The primary function of the OAX token is to facilitate transactions and payments within the openANX decentralized exchange ecosystem.

One of the common use cases for the OAX token is to pay for transaction fees on the openANX platform. Users who wish to trade or transfer assets on the decentralized exchange will need to use OAX tokens to cover the associated transaction costs. This creates a demand for OAX tokens and incentivizes individuals to acquire and hold them.

Additionally, the OAX token can also be used for governance purposes within the openANX community. Token holders have the ability to participate in the platform's decision-making processes by voting on proposals and influencing the future direction of the project.

As for a specific case, let's consider the example of a user who wants to list a new token on the openANX exchange. In order to do so, the user must pay a listing fee, which can be done by using OAX tokens. By requiring the use of OAX tokens for listing fees, the platform ensures that the tokens have a practical utility and creates an economic system that aligns the interests of token holders and platform participants.

In conclusion, the openANX Token (OAX) is primarily used for transaction fees and governance within the openANX platform. Its usefulness extends to various aspects of the ecosystem, including listing fees for token listing on the decentralized exchange.

What is DIA's openANX Token API?

DIA's openANX Token API is part of their API endpoints that provide real-time price feeds of various crypto assets. These price feeds are built by sourcing raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in a comprehensive and accurate view of the market. DIA distinguishes itself by delivering data that other web3 data providers cannot.

Regarding the availability of DIA's API endpoints, they provide both free endpoints for developers to test and fully customizable custom feeds. While the free endpoints are readily accessible on the asset's detail page in the DIA App, custom feeds offer more flexibility and tailored options. Users can request a dedicated API price feed from DIA through Discord or Telegram, allowing customization in terms of sources, update mechanisms, methodologies, and more.

The use cases for DIA's API are vast within the blockchain ecosystem. In the DeFi space, the price information from DIA's API can be utilized for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. For NFTfi applications, DIA's API can enable peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other innovative possibilities.

DIA's API provides developers with the tools to leverage important price data from various crypto and NFT exchanges, allowing them to create innovative and value-added applications within the blockchain ecosystem. The availability of both free and custom feeds ensures that users can access the data in a way that best suits their individual needs and requirements.

What is DIA's openANX Token price oracle?

DIA's openANX Token price oracle is a smart contract that provides real-time price feeds for crypto assets. What sets DIA apart is its integration with over 35 layer 1 and layer 2 networks, allowing for the deployment of price oracles across multiple blockchains. This comprehensive approach enables DIA to source raw data from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in accurate and reliable price feeds.

While DIA offers demo oracles for developers to test, these are strictly for testing purposes and cannot be integrated into production applications. However, DIA also offers the option of requesting custom price feed oracles. These custom feeds can be tailored to specific requirements, including sources, methodologies, and update mechanisms. To request a custom feed, developers can get in touch with DIA via Discord or Telegram.

DIA's price oracles have diverse use cases within the blockchain ecosystem. In DeFi, they can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and money markets, among others. For NFTfi applications, DIA's oracles can facilitate peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

It's important to note that a blockchain oracle, such as DIA's, acts as an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles, like DIA's, play a crucial role in providing real-time and accurate data to decentralized applications, enabling them to function properly and securely.

Why use DIA's OAX API & price oracle?

DIA's OAX API and OAX Price Oracle offer significant advantages for users in the blockchain ecosystem. These technologies provide access to accurate and reliable price data for cryptocurrencies and NFTs. The main benefit of using DIA's API or Price Oracle is the high level of customization available. Each oracle and API endpoint can be tailored to meet the specific requirements of decentralized applications. Users have control over data sources, data cleaning filters, pricing methodologies, and update mechanisms, ensuring a robust and resilient data feed that suits their unique needs.

Customization ensures that the oracle and data remain strong even in volatile market conditions, providing both global market and specific individual or cross-chain market prices. This level of customization sets DIA's offerings apart and ensures that users can rely on accurate and tailored information.

Additionally, DIA's API and Oracle feeds provide a high level of transparency. Users can trace the entire data journey and gain insights into how the data is sourced, cleaned, and processed. DIA also provides tracking and monitoring tools for users to closely monitor the performance of their oracle and API feeds.

Overall, DIA's OAX API and OAX Price Oracle offer customizable and transparent solutions for accessing accurate price data in the blockchain ecosystem. Users can confidently rely on these technologies to meet their specific needs and make informed decisions in the market.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.