Community Update: September 2019

After the excitement of our L2X protocol launch in August, it’s been straight back to business this month for the team at OAX Foundation. We hosted a marathon 24 hour AMA Session on Reddit to speak directly with our community and it’s fair to say we were overwhelmed by the response. We received – and answered – a total of 110 different questions over the period about everything from what we’ve learned during the project so far to how developers can get involved. It’s great to see such interest in OAX, and this kind of engagement really drives us forwards. Congratulations again to the winners of our best question competition!

One topic that came up in the AMA, and which we regularly receive questions about, centers around our plans for partnerships. Finding the perfect partner is not easy in any aspect of life – and business is no exception! We explored this subject in some detail this month in order to explain our own approach to partnerships. In short, we know success in taking digital assets mainstream can’t be achieved by one party alone. That’s why we’re looking for partners to help develop and match the regulatory and consumer needs that will smooth our path to success. Cross-promoting each other’s’ work enables us to join forces and accelerate this process.

During the month, we also shone a spotlight on the issue of hacking to highlight how critical we believe our work at OAX Foundation is. Billions of dollars worth of digital assets have been stolen in hacks just this year alone, and it’s an issue that the industry needs to get to grips with if it’s ever to have any hope of going mainstream. Going trustless through the use of our L2X protocol removes a fundamental vulnerability in the system, and so can make digital asset trading inherently safer. This is something we’re going to keep on highlighting, along with the other benefits of speed and scalability which our protocol brings.

And of course while all this has been going on the team have been hard at work as usual behind the scenes promoting, discussing and reviewing the feedback that we’ve received on our project so far. If you missed the chance of taking part in the AMA, or have just thought of another question you’d like to ask, please don’t hesitate to get in touch!