OAX AMA Session Highlights


AMA Session Recap, Summary and Highlights

Hope everyone had a wonderful Easter weekend and has been staying safe and well!

As most of you know, we hosted our first AMA of the year last week. Many of you have asked for a summary of the AMA, and even more are waiting with bated breath to find out the lucky winners! Well fret not, we’re here to deliver the news, but not before thanking everyone that took the time to join us and sending in some really great insightful questions!

While we mentioned that the AMA was centered around our announcement we made about our plans to build a parachain on the Polkadot Network, we received a variety of questions - from our BD plans, to our general direction moving forward. We had a great time going through all the questions, and it was definitely tough to pick out the winners!

Without further ado, here are our picks for the winners - and our replies, too. ;)

Q: What are the reasons of OAX entering into a technical cooperation with Polkadot by building of the OAX Parachain & how Polkadot can help improves OAX Parachain interoperability with a scalable network and shared security? - u/blaze_23

Our reply: As we began exploring opportunities to increase sustainable utility for our token, we studied many different platforms. We ultimately decided on Polkadot, which has a vision very much aligned with our own.

Polkadot is a protocol which is scalable, interoperable and enable shared security, and parachains are the parallelizable blockchains (“para-chains”) that comprise the Polkadot network. We recently released an OAX Parachain Summary that highlights four of our key features for the parachain: ERC20 Functionality, Atomic Swap, MultiTransfer, and Fee Delegation that will take advantage of Polkadots scalable network and shared security. Let us know what you think about these features and also if you think there are more ways for us to strengthen our parachain!

Chinese version: Q:有什么原因驱动OAX与波卡网络(Polkadot Network)进行技术合作构筑平行链?另外,波卡网络的可扩展及安全共享如何改善OAX平行链的互操作性?- u/blaze_23

A: 当我们刚开始探索增强OAX代币的可持续功能时,我们研究了许多平台。最终我们选择了波卡网络,是因为其项目与我们都有着一样的目标和愿景。波卡的协议具备可扩展、互操作、共享安全的特性,而平行链就是平行于波卡网络的区块链,是波卡网络的重要组件。在我们最近发布的 OAX平行链择要中,重点摘写了OAX平行链如何利用波卡网络的可扩展及共享式保安特性来创作的主要功能:ERC20标准、原子交换、多重转换,以及费用委托。我们期待您对以上功能的意见,也期待与您深入探讨其他具备潜力,可以改良OAX平行链的方法!

Q: You talked about DeFi a lot these few months and didn’t DeFi get hacked a lot recently, there still seems a long way to go for DeFi, so what makes you confident that your collab with Polkadot will work out from a defi angle? - u/Numerous-Success

Our Reply: In case you haven’t had a chance yet, you should read our take on the DeFi hack that happened recently. You’re right that there’s still some ways to go with DeFi, but that’s the case with any industry that is starting out. We’ve cited a strong developer community as one of the reasons we wanted to work with Polkadot. It’s through this community that allows us to work together to move things forward. We’re learning and adapting from these situations, closing the loopholes and improving the overall DeFi infrastructure. We’d love to hear from you on what you think might be some of the ways that DeFi might be able to make it to the next level too!

Chinese version: Q: 团队于近月来曾多次提及去中心化金融(DeFi),然而近来DeFi程式却多次遭到骇客入侵。由此可见,去中心化金融技术距离成熟还远,OAX凭什么认为与波卡网络的合作,可以有助于去中心化金融的领域取得成功呢?- u/Numerous-Success A: 如果您未曾有机会,您可于以下连结阅读我们早前发布的文章 - 团队对于去中心化金融的骇客入侵的看法。 我们也同意您对于去中心化金融还有遥遥长路的看法,但这是所有新兴行业都会面对的挑战。正如我们提及,强大的开发者社群是其中一个驱使我们与波卡合作的原因。透过这个社群我们可以携手协力一起向前推动。于发展过程中,我们亦会不断从各式各样的事件中学习、应用、修补漏洞,以及改善去中心化金融整体的基础设施。 如果您有让去中心化金融更上一层楼的建议,我们欣然与您讨论!

Q: What is the biggest impact that drove your decision to work with Polkadot? a lot of projects seem to be working with Polkadot now as well. What makes OAX different? - u/jakepaulrocks Our Reply: We decided to work with Polkadot because we felt it had a vision very much aligned with our own. Between strong shared security, to a vibrant and supportive developer community that is essential for the success of such projects, it offers the opportunity for integration. That’s why we’re thrilled to hear more and more projects coming and joining as well.

There’s a few things that OAX has been working on for our parachain, namely focusing on four key features that was highlighted in our summary. While we’re well on our way with the development of these features, we’re always on the look out for more things we should do that will really push it forward. What do you think– have any ideas based on what you’ve seen?

Chinese version: Q:这个计划背后有什么最为重要的因素驱动OAX于波卡网络(Polkadot Network)建立平行链?在众多波卡网络的合作项目当中,OAX如何能突围而出? - u/jakepaulrocks A:团队决定与波卡网络合作的原因是我们认为其项目与OAX有着共目的目标和愿景。从坚固的共享安全到充满生气的开发者社群 - 这皆是项目成功的重要元素,波卡网络提供了整合的机会。因此我们亦对于更多的项目加入感到兴奋。对于OAX平行链发展项目中,我们早前摘要介绍了我么的四几个主要功能 - 在我们发展上述的主要功能期间,团队亦继续探索其他有潜力的功能。您有什么想法?

Congratulations to all the winners! A member of our team will also contact you privately on Reddit for the next steps. If you didn’t win this round, fret not - there will be many more opportunities to come in the future. :)

Apart from the winning questions, here are some other questions that we really liked and would like to highlight:

Q: One of the competitive advantages of OAX is the Dev team who assures speedy developments of different functionalities on OAX ecosystem. I’d like to know more about your team. Were there any significant challenges that your team encountered in the past? OAX has some great tech and more on the way. But the days are passé in crypto when you could take an ‘If you build it they will come’ approach. Does OAX have interested partners and businesses that are actively looking at integrating the tech? If so, what can you tell us about them? If not, what’s the plan there? - u/khyopa1212

Our Reply: There’s always going to be challenges that any company or industry will face, and we’re no different. Even what happens in the news sometimes will have us going back to the drawing board to relook the work we’ve done to evaluate whether our approach is still solid. While our team consists of developers with a passion for technology and the possibilities that blockchain technology bring, one of the biggest challenge for us has been finding qualified people with the combination of talent, passion and knowledge of this industry.

We agree that a “sit and wait” approach isn’t what drives the business forward, and so our team is also engaging in conversations with potential partners. As always, it’s a chicken and egg scenario, and not every conversation will come to fruition, but at least we hope these ongoing conversations lead us in the right direction and allow us to make progress so that we do have opportunities to integrate the technology when ready.

Chinese version: Q:OAX其中一个竞争优势是其开发团队可以迅速开发OAX生态系统所需的各项功能。我希望能多认识你们团队。在过去的开发过程中,团队是否遇到任何特别的挑战?

OAX拥有并会继续开发出色的科技。然而,加密货币已经不再是「栽下梧桐树,自有凤凰来」的神话,为此,OAX找到有兴趣整合你们技术的伙伴与业务了吗? 有的话可以跟我们透露详情吗?没有的话你们有什么计划?</i></b>

A:您提及的挑战其实适用于任何企业和行业,大家都需要面对。我们时刻反思自省,借以确定我们的方向无误。我们的团队包括对区块链的未来充满热情期盼的开发人员,对团队而言,其中一个最大的挑战正是吸纳具备对区块链行业有同样的天赋、热情及知识的人才。

我们同意「守株待兔」的态度不会让业务前进,所以团队经常与潜在伙伴商讨。这也是一个典型的「先有鸡还是先有蛋」的问题,我们并不能确保每一次对话能有成果。尽管如此,我们希望持续的对话能带领我们前往正确的方向,让团队更好准备去迎接整合的机遇。

Q: Hi team, I wonder if the team believes the blockchain technology could have prevented or improved the coronavirus pandemic? If so, how could it help? - u/MHWI-Master

Our Reply: Such a timely question, and something we’ve been considering as well. It’s true that so much of our focus has been tied to the financial industry, but one of blockchain’s top advantages is data security and traceability, which can help with supply chain management and resource allocation.

We saw examples like using unique digital identity through blockchain-based systems for digital authentication of workers to practice sheltering in place while working from home, managing supply chain of medical goods in an effort to prevent price gouging, allowing doctors to track symptoms and include any notes related to the patient’s care, etc.

The potential is huge, and the pandemic is a cry for an imminent upgrade of our health surveillance system and medical supply chain, borderless data and analytics sharing/management, to name a few, most of which blockchain clearly can help. But we need to enable these systems before the crisis hits, which is why development during peaceful times is absolutely essential.

Chinese version:

Q:团队大家好,对于这次新冠肺炎大流行,OAX团队认为区块链这项技术会否能提早预防或者改善疫情蔓延?如果可以,区块链会怎样带起作用?

A:这是一个非常适时的问题,虽然我们的项目都是集中于金融行业,我们也曾思考类似的问题,因为区块链其中的优势是数据安全和可追溯性,绝对有助供应链管理和资源分配。 我们见识过以区块链系统利用独一无二的数码身分来进行身份认证,让员工可以安心在家中工作,管理医疗物资供应链以防止恶意抬价,容许医生可以追溯症状及病人护理相关事项等等。 区块链的潜力极为具大,而这次的新冠肺炎大流行正显示健康监察系统与医疗物资供应链升级已迫在眉睫,无国界数据与大数据分析的共享与管理,以上种种,区块链绝对可以大派用场。但我们需要未雨绸缪,于危机发生前做好准备。正因如此,必要在闲时开展工作以防患未然。

If you’re curious about how the full AMA session went, all questions and our replies can be viewed here.

All in all, we hope to continue these open discussions with our community members throughout the year and not just during our AMAs! We’re always open to new ideas and suggestions from you. We understand the world is going through an uncertain time, and we hope everyone is staying positive and well. We’ll continue to working hard on our project (while staying safe too, of course!) and we look forward to bringing you more updates in the coming months.

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