OAX is an ERC20 token developed to fuel an open-source decentralized exchange platform “openANX” which provides an aggregated order book to increase liquidity; holds collateral for asset gateways to reduce credit risk; and features an off-chain, predetermined dispute resolution system governed by the Decentralized Autonomous Organization(DAO) to maximize consumer protection.
'SingularDTV is laying the foundation for a decentralized entertainment industry. On September 2019, SingularDTV announced the first Censorship Resistant Media DAO: The SNGLS DAO. The SNGLS DAO will provide the non-profit governance layer for the SNGLS Media Distribution Protocol. Established by SingularDTV as an independent and objective organization to guide the development of the protocol, the prime directive of the SNGLS DAO is to uphold the tenets of decentralization and build a truly decentralized, community-owned, self-adaptive media distribution protocol.'