well.. many many moons ago, Marcel and I used to actually make music 
Via various routes we came to play live acid, of the Hardfloor kind and beyond. Normally with a setup containing one or two TB-303 (obligatory), a MIDIfied SH-101 sequenced by a TR-909 (seems familiar? hint!)
Chemically speaking, acids are solved oxides, so the concept of "general oxidation" was born. And there was the name. The current spelling is a variation on the theme really.
As geeky and non-spectacular as it is, that’s how it all came about 