Hong Kong-based openANX announced its success in the token sale
Raises 15m USD in 3 hours -- Asia's biggest token sale
HONG KONG, June 29, 2017 /PRNewswire/ -- Open ANX Foundation Limited, the not-for-profit entity behind the openANX project announced that their token sale has been an amazing success.
The openANX project launched its token sale at 9 PM local time last Thursday on the 22nd of June; since then the sale has surpassed all previous records for an Asia based token sale, raising $15 million USD in the first 3 hours, at a rate of over $750,000 USD every 10 minutes.
Dave Chapman, one of the Directors of the Foundation said, "A key part of the launch was to raise awareness and interest in the platform, which aims to address key challenges in the crypto-community. The lack of consumer protection has been a huge hurdle to the mass adoption of digital assets. The openANX platform is aimed at reducing the difficulty of new market entrants becoming involved in cryptocurrency and allowing them some measure of protection from the hacks and thefts that have hindered adoption up to this point. We have over 3,400 contributors from around the globe so far, a significant number, and compared to other projects similar to ours that is something we are very proud of."
The openANX token sale is the first of its kind in Hong Kong, with participants spanning multiple countries and regions such as Hong Kong, Mainland China, Australia, the U.S., Europe and Russia. A significant number of the participants supported the project with small to medium contributions, in line with the Foundation's desire to build a diversified, informed, and engaged community.
To better ensure the long-term viability of the project, the Foundation enlisted the services of a wide array of legal opinions and expertise, advising on issues relating to the token sale and other related matters. King & Wood Mallesons advised regarding Hong Kong and PRC law, L&Y Law Office advised regarding Hong Kong law, while Cooley provided advice regarding U.S. law.
Notes to Editors
ABOUT Open ANX Foundation Limited
Open ANX Foundation Limited (the "Foundation") is a non-profit-making entity established under the laws of the Hong Kong Special Administrative Region as a company limited by guarantee. The objective of the Foundation is to promote the real-world application of the openANX Platform ("openANX Platform" or "openANX"), an open source, decentralized digital assets exchange along with the development of a bespoke token called OAX ("OAX Token" or "OAX").
ABOUT openANX
openANX is built on the Ethereum blockchain and will utilize decentralized exchange protocols to allow cost-effective trading with reduced credit risk. By combining an open-source, decentralized matching engine alongside collateral-backed asset gateways, the openANX platform greatly improves consumer protection and transparency while significantly reducing risk. For more information, please visit: https://www.openanx.org/en/.
ABOUT the Project Team
The launch and groundwork of openANX is currently being coordinated by ANX International and veteran advisors from the industry. Founded in 2013, ANX International is a Hong Kong-based, market leading FinTech company specializing in blockchain technology. Its development team is among the world's largest with proven ability of operating ANXPRO, one of the longest running bitcoin trading platform in Asia. Highly experienced in cryptocurrency with passion to match, the openANX team consists of the industry's brightest technology, business and legal minds.
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