Welcome "ONAM": A platform ushering in a new era of standardization in digital asset trading by placing an emphasis on adhering to compliance, security and usability
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Your first step into the world of cryptocurrency will most likely occur through an exchange
Today, bartering has made a comeback making efficient use of strategies and techniques that are more sophisticated to aid in trading and exchange; for instance, the exchange and trading of cryptocurrencies powered by a new era technology called the blockchain technology. Through the blockchain technology, a lot of digital assets have been brought into existence for the primary function of buying and selling of goods and services and so on. The blockchain technology underlies Bitcoin and many other cryptocurrencies such as Etherium, Ripples and Steem follows.
The rise of Bitcoin since its inception in 2008 by Natoshi Nakamoto has it that many people are now getting very much interested in becoming a core member of the cryptocurrency world. In early 2018, the cryptocurrency market pushed toward a one trillion-dollar market cap. There is no doubt about it that we haven't gone far at all in terms of mass adoption and believe me, we still have a lot of challenges to overcome. However, the future of true mass adoption is at stake due to the rigid infrastructures that most exchanges uses, which can shun off interest from new customers or leads to abandoning projects all-together.
Since the entrants of new individuals and companies into the world of cryptocurrency will most likely occur through an exchange. The intelligent members of ONAM was very conscious of this fact and also sees the challenges the users of existing exchanges are facing and then decided to be a saving grace by building a platform that is compliant with current and future regulations set forth by the sec and other regulatory bodies.
What is ONAM ?
ONAM is a unique cryptocurrency exchange platform with compliance as one of its major priority. They offers the latest and best scalability, security, customer support, transparency, liquidity and most importantly compliance.
How does ONAM achieves all of this ?
Just as i said earlier, the platform of ONAM achieves this by being compliant with current and future regulations stated by the SEC and other regulatory bodies. Due to this, They have retained one of the top law firms that are very much knowledgeable in relation to corporate and security laws to act as a representative to them during their dealings with the SEC, FinCEN, FINRA and other organizations pertaining to regulations. The safety of their customer funds and fairness of the market within their unique platform is 100% guaranteed through the combinations of their privately owned Advanced Threat prevention, Intrusion Detection, and Trade Surveillance Tools, in addition to encrypted databases. There would be no problems detecting and flagging any market potential manipulation attempt on ONAM because their system is powered by a machine learning. Thus, ensuring the fair growth of digital assets with no much difference from the SMART trade surveillance system of Nasdaq. ONAM will make available unparalleled market sentiment tools into the industry which prevents the display of unconfirmed and unreliable market data to users via an attractive modular user interface, thereby, encouraging the preservation of profits and easy transition of users into a succesful trading experience. They also struck a partnership deal with BitGO so as to offer custodian services to big institutional investors
ONAM Vs Current Exchange Market
The goal of ONAM is to become the most effective, efficient and capable exchange on the market in relation to prices, security, liquidity and scalability and so on. They have readily available tools for individual and institutional investors to implement in achieving their set goals. The chart below shows the unique feature including the difference in fees of ONAM in comparism with some top exchanges.
Challenges of Cryptocurrency Exchanges
Unsafe exchanges and security breaches
It is quite hard to get an exchange that is safe and secure because beginning from 2011, cryptocurrency exchanges have been the target of various hackers which has posed a lot of security concerns in the market with each new breach. It was recorded in 2017 that crypto exchanges lost over $266 million dollars to security breaches and major exchanges have already suffered a massive loss of 731 million dollars to various security breaches in the first half of this year. There has been predictions of even larger scale theft, fraud and attacks as crytocurrency moves from local market to mainstream in the coming years.
Scalability limit other exchanges face
Current cryptocurrency exchanges are not flexible in design and they lack the capability to keep up with the upcoming growth of the market and will be hard for them to survive in the future. Due to the high increase in the number of cryptocurrency investors, quite a lot of exchanges have been running close to maximum capacity since no one expected a quick rise of the market. The influx of new traders and investors in the late 2017 and early 2018 exposed how rigid and outdated the current exchanges have become and the limitations in scaling were pointed out. During peak trading times, the exchange matching engines do not have the capacity to bear the massive changes, thereby, preventing the registration of users for weeks at a point in time by some of the largest cryptocurrency exchanges added to the booming but fragile market which is volatile in nature.
Market manipulation
There have been undeniable proofs of large-scale market manipulations occuring within the cryptocurrency industry such as the criminal investigation opened into cryptocurrency market manipulation by the United States DOJ. Market manipulation techniques such as wash-trading, spoofing and momentum ignition to pump and dump have caused a lot of damages to crytocurrency exchanges. Most of the victims of this practices are the novice and seasoned traders. The volatile, unpredictable and heavily manipulated crypto-market that lacks proper regulations makes it quite difficult for large individual or institutional investors to enter the cryptocurrency market or even gain the trust of the masses at large.
Unintelligent customer support
Customer support offered by other exchanges on their platform are not encouraging at all. The approach used by most of these exchanges are not worthy of special merit. A survey conducted by the ONAM team members for over six month on the top five exchanges shows that customer support was one of the challenges of the cryptocurrency exchange industry. There was a report by some users that it takes nothing less than two weeks for submitted support tickets to be addressed even in cases that needs urgent attention like account lockouts, 2FA resets and loss of customer's fund.
Poor market liquidity
The bedrock of any successful exchange is liquidity. Manipulation has been made easy through things like poor order books, large gaps between asks and bids which have brought about fluctuations in price (in mere seconds) in the market. Sometimes, some exchanges do not have any choice than to resort to unfair and illicit tactics by spoofing, front-running or wash-trading to simulate rich order books and profits from the fluctuations of price.
Lack of regulatory compliance
Just as i said earlier, a lack of regulation in the market makes it quite hard for individuals or institutional investors who are looking to enter the market to trust the various cryptocurrency exchanges. There has been a lot of scrutiny carried out by SEC on most cryptocurrency exchanges, ICOs (Initial Coin Offerings), and similar projects. They are as well trying to caution individual and institutional investors from participating in cryptocurrency market. With this, I am sure we should get a glimpse of what I mean when I said we need a new and unique exchange with a regulatory framework like ''ONAM'' to provide protection for the investors. Lack of regulations open the potential investors to failed projects which leads to losses on their side, and in turn give a bad impression to novice investors about the whole cryptocurrency exchange industry.
The Solutions of ONAM
Optimum Security
The challenge of cybersecurity is a continuous thing. This is because cybercriminals find new means of hacking through even as certain attack vectors is secured. For damages to be prevented, there is need for threat to be detected earlier, and this require continuous monitoring and real-time visibility. The entire team of ONAM identify how important security is in the market, and the negative impact a breached security will have on the system; and this is why they have made security their priority, and their developers have taken this as a major requirement in building their platform. ONAM have developed their own proprietary Advanced Threath Prevention, Intrusion Detection and Trade Surveillance systems alongside the implementation of industry standard DDoS mitigation, anti-phishing and 2FA solutions. All of these are powered by machine learning, along with encrypted databases to create optimum security in the platform of ONAM.
The machine learning technologies make it easier to detect any irregular activities, and their Advanced Threat Prevention system will put a stop to any potential problems in real-time, thereby, allowing earlier prevention of security breaches. With this, their customer's fund are 100% safe.
Scalability
The members of ONAM's team has an attitude of scaling, which was at the top of their mind while the ONAM's platform is being built. They are of the belief that "if scaling is not fast, then it is just too slow", and they had their platform engineered around this belief. The matching engines of many exchanges cannot handle more than one or two million transactions per second. The platform of ONAM outperforms them all without any difficulty. A platform capable of withstanding heavy load, and compliant with all current and future strict regulations of government to the market have been developed by ONAM.
They have developed an ultra-high performance and versatile matching engine that have the capability of processing in the excess of 10 million transactions per second with latencies as low as 40 nanoseconds (which is 0.00000004 seconds). You can imagine how massive and fast the transaction rate is and how minute the latency is. This was accomplished by making using of GoLang programming language designed by Google which was created mainly for computationally intense server applications.
Market Manipulation
Suspicious trading activity are monitored by ONAM Real-Time Market Surveillance, Supervision and Compliance System via machine learning. Pre-trade and post-trade data is analyzed by their system to identify suspicious activity such as pass-through trades, layering, unusually large trades, wash trades, spoofing, front-running, hammering, stuffing and momentum ignition. With this, they will be able to generate Suspicious Activity Reports for the regulators in compliance with both current and future regulations. The entire team of ONAM are very determined to put a stop to market manipulation techniques so as to ensure safety and fairness of market conditions.
Effective Customer Support
They are dedicated to giving the best support in the industry. They look forward to offering 24/7/365 Live Chats in multiple language of your choice and are committed to providing solutions to common issues within the first 15 minutes of submitting a support ticket.
Poor Market Liquidity
They have a lot of incentives in place to allure volume traders, large market-makers and miners. They make use of order books from multiple exchanges to put a solution to the issues of high slippage and market manipulation caused as a result of poor liquidity other exchanges are facing and offer rich and transparent order books.
Regulatory Compliance
There has been a statement issued by SEC that virtually all token assets are securities and has issued subpoenas to exchanges and ICOs (Initial Coin Offering) for the non-regulated sale of securities. There has been changes in the token market and legal experts are giving advice to their clients to obey regulations in issuing their tokens and in the operation of their business. ONAM believe that being compliant will help ensure transparency and build trust, which will then attract new individual and institutional investors into the system. This is why one of the top legal firms in the United States have been retained by ONAM to take care of all legal challenges in the system and to operate without the fear of being shut down by regulatory bodies.
The Features of ONAM Platform
Advanced Order Types: These options such Trailing Stops, Iceberg Orders, Good Till Cancelled, Fill or Kill, Take Profit and so on helps the customers in becoming more successful and preserving their profits and their day-to-day trading activities.
Margin Trading: Users can have access to higher buying power in exchange for a small interest fee on borrowed funds.
Margin Lending: With this, Users can earn interest on funds they lend to margin traders on their platform, and can pick their own rate and terms of duration while structuring their loans.
Composite Index Fund: Users can diversify their cryptocurrency assets in a smart and secure way.
Paper Trading: This will enable novice and intermediate traders to trade succesfully on their platform, test market conditions and order types alongside developing their skills in trading.
Modular User Interface: This brings in dynamism and creativity on the users side as it helps them customize their trading page as they desire. This helps take care of the shortcomings and design flaws of current exchanges and their apps.
**Trade Assistant: This is powered by machine learning and provide Trade Alerts and Signals, which helps to reduce risks based on current position, account balance and the risk tolerance of each trader to the bearest minimum, thereby making sure every traders have optimum profits on all of their transactions.
Auto Trading and trading strategy backtesting: With this, Customers can create trading bots based on their own strategic manner with preffered indicators or simply utilize ready-made strategies created by the professional traders on the platform.
Social media and market sentiment analysis tool: This is also powered by machine learning for super-fast sentiment analysis of the market conditions to facilitate and fast-track better decisio ns of trading and be on a safe side.
Institutional grade market scanning tool: This is powered by Machine Learning, and it allows traders to trade the most volatile assets in the market. This will also allow their customers to find coins and tokens to trade depending on their own set standard.
Adcanced Charting: This provide the users an assistance regarding the optimization of the historical analysis of commodity, currency, securities and others.
Trading Experts: This will help impart more knowledge to novice and intermediate investors on the basis of technical analysis their trading platform videos and articles. This will assist their customers to be succesful in the financial markets.
News and Announcement Feed: This provides their users with major and up-to date cryptocurrency related news.
Push Notification: This is an important part of any given app. This will help give quick alerts to their users when order fills or new coins/tokens are listed or when any important activities takes place.
OTCTrading: This will aid and fast-track the buying and selling of digital assets for large traders and institutional investors without adding to the volatiliy of the market. Their Platform will also ensure smooth swap of assets and funds via trustless smart contract.
Multi-language User Interface: This will provide the users with options to use the platform in their language of choice.
Multi-Language 24/7 LIVE Chat Support: This will help resolve customers issues without waste of time in a language of their choice.
FIX Server for Institutional Traders
Advanced and Custom APIs
Affiliate Program
ONAM State-of-the-Art Security and Compliance Systems and their Functions
Enterprise-Grade Security System
This is powered by machine learning and it comprises of Proprietary Advanced Threat Prevention and Intrusion Detection tools. It never stores any passwords, encrypts all user data that are sensitive before its submission into the database.
Anti-Market Manipulation (AMM)
This is ONAM's real-time market surveillance, supervision, and compliance system which is powered by machine learning, and all suspicious trading activity within their platforms will be perfectly monitored through this. With this, market manipulation attempts such as wash trades, pass through trades and unusually large trades will be easily flagged.
Anti-Money Laundering (AML)
This is also powered by machine learning technology, and will help cross check customer data accross various databases and watchlists. Their Anti-Money Laundering system will help them filter customer data, rank it, and potentially identify illicit behavior before it happens so as to keep the system safe and sound at all times.
Quarterly Third-Party Audits
The quarterly Third-Party Audit of their architecture, matching engine, security protocol, code and order books will help to facilitate full compliance, transparency and high-security standards.
BitGO Partnership
ONAM had struck a partnership deal with the market leader in institutional-grade cryptocurrency investment services called BitGO so as to offer custodian services (which include but not limited to institutional-grade policy controls, and 100% cold storage with multi-signature in bank grade vaults for more than 75 cryptocurrencies) to big investors.
Employee Background Checks and Compliance Training
All employees will go through strict background check to make sure that they meet a standard that matches the security and standing of ONAM and its vision.
Use-Case
Mr Jackson is a well known businessman that has grown so wide and popular in the cryptocurrency industry. He owns quite a number of assets on various top exchanges. But he found out anytime he had issues especially the ones that needs urgent attentions like loss of funds, account lockout and reset of 2FA; and he made a submission of his support tickets, it takes like forever for them to be addressed and this has cost him a lot both financially and in other aspects.
Fortunately for him, he read about ONAM on a platform and decided to give it a trial. ONAM is a platform that are dedicated to giving the best support in the industry. Anytime any issue arises, be it at night or during the day, Mr Jackson was able to get 24/7/365 Live Chats in a language of his choice and solutions were effectively and efficiently provided to common issues within the first 15 minutes of submitting a support ticket. With ONAM, Mr Jackson was able to carry out all transactions securely without any drawback whatsoever and he was able to get the highest profit out of every transactions. He was very glad about this and started using ONAM Exchange for all of his transactions and he also tell the goodnews of ONAM Exchange to all of his friends and families.
Token and ICO Information
Token Allocation
Token Sale Funds Allocation
Conclusion
There have been quite a lot of top cryptocurrency exchanges around that offered optimum security, full customer support, scalability and other great features to their customers but they failed in doing so in one way or the other. However, ONAM Exchange is a new exchange whose aim is to ensure that justice is brought into the cryptocurrency exchange market. They have readily available tools at hand powered by the latest technical and foundational technologies to avoid breaching of security and maximize the performance of platform for its users benefits. With great benefits and features such as 24/7/365 live customer support via chats in multiple languages; 10 million transactions per second with latencies as low as 40 nanoseconds; phone supports for first six months; encrypted database backup, and the latest knowledge in regulatory compliance that users are bound to enjoy on their platform all at a very low fees, there is no doubt about it that ONAM is set to take-off as the best cryptocurrency exchanges in the industry.
Roadmap
Meet the Team
Team Members
Advisors
Helpful Links
Onam2018
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