OAX Foundation signs MoU with IJS Technologies

30 June 2021, HONG KONG – OAX Foundation and IJS Technologies have announced today the signing of a Memorandum of Understanding (“MOU”) for the promotion and cooperation of DeFi adoption, community education, and technology advancement.

IJS received a grant from OAX in December 2020 for continual code development that the IJS team had been working on for a DeFi token swapping platform. The code that was developed with support from this grant is now the underlying technology that the decentralized trading hub OpenSwap operates on.

“Nearly a year ago, IJS approached us with their token swap proposal. Their belief that this platform needed to be adaptable and malleable to adjust to the ongoing changes and challenges in the industry, plus their perspective of how to address key issues within existing platforms resonated deeply with the OAX team. Our intention is to maintain this ongoing discourse and collaborative nature between the teams through the MoU, and we look forward to a productive and idea nurturing relationship,” said Amanda Liu, General Manager of OAX.

The MOU between OAX and IJS continues this relationship between the two organizations and is a signal of ongoing cooperation and the dedication of the teams to work together and promote the adoption and usability of digital assets in a growing DeFi landscape.

“As technical providers, the dynamic and open-source nature of the DeFi market offers unlimited opportunities for innovation and growth. The code that we initially shared with OAX has changed drastically from the code that currently exists as a platform for OpenSwap, and it will continue to evolve. In order to remain competitive, the direction and execution must continue to develop and adapt to the market changes.” said Tony Tam, CEO and Co-founder of IJS Technologies.

About IJS Technologies: Founded in 2017, IJS Technologies is an award-winning blockchain and fintech solutions provider based in Hong Kong. With a commitment to open source and decentralization, IJS strives to make the digital asset and blockchain ecosystem a safer place for everyone. Global organizations choose IJS Technologies to guide them into the age of crypto-commerce. For more information, visit their website here.

About OAX Foundation: OAX Foundation set out in 2017 with the conviction that decentralized finance and digital assets would be an integral part of the future of mainstream finance and commerce. The Foundation’s deep-seated beliefs for the collaborative nature of decentralized finance has served as a basis of engagement for working with key players in the space to explore and push the potential of technology. For more information, visit their website here.