The OAX Platform is a new type of decentralized platform for trading digital assets, now launched in prototype form.
One of the main features of decentralized platforms is that each user holds their own individual keys. To demonstrate this prototype we use MetaMask to access users’ wallets.
Now we will show you how to trade on the OAX Platform in this video https://www.youtube.com/watch?v=EIfhsTBzkaM.
Once you have successfully logged into the MetaMask account you are connected to the OAX Platform. Your wallet address now appears in the top right hand corner.
The OAX Platform contains several sections, including Order Book, Price Chart and History as well as Buy and Sell Forms. At the bottom of the screen are tabs to display Open Order, Filled Order and Order History.
Suppose you want to place a buy order for OAX tokens using WETH (wrapped ether). Enter “1” as the amount of OAX tokens to buy, and set “0.5” as the price you want to pay. Now click “Place Buy Order” to continue.
A MetaMask notification appears; click “Sign” and authorise your order. Your order is then displayed instantly in the shared Order Book and in the Open Order section at the bottom of the screen.
You place your sell order in just the same way.
Now, let’s use another account to fill that buy order. Switch to the Sell function and repeat the same steps as the buy order.
When our order engine matches the two orders, clicking “Submit” on the MetaMask pop-up confirms the transaction.
The order will then be settled on chain, with the filled order reflected in the “History” section. The trading data for all settled orders is displayed in the price chart.
We’re looking forward to the next stage of the project. Keep following us for updates!