ONAM: AN EXCHANGE TO MEET THE EVER CHANGING NEEDS OF THE CRYPTO MARKET

INTRODUCTION
When people use a service, they expect to be treated fairly, and also protected. This is something many exchanges fail to do.
Users have been victims of hacks, and also lost access to their funds. In some cases, all a user wants, is to have an idea of what is going on.

ONAM is an exchange that is looking to right all wrongs in this sector, and they have carefully studied the problem, and identified some solutions to these problems.

PROBLEMS FACED BY EXCHANGES
Exchanges have been victims of major hacks, and have lost considerable amounts to hackers. In the first half of 2018, $731m was lost by exchanges to nefarious characters.

A lot of exchanges are not primed to meet the throng of new users-professional traders and novices alike, that will be looking to enter the crypto space. Not being ready would mean that their matching system will be clogged, and this affects the users experience. This in itself, can ensure that users are turned away from venturing into trading activities.

Tricks, such as wash-trading, spoofing, pump and dump and momentum ignition are rampant in the crypto space, and this is due to the fact that there are no regulations to ensure that people adhere to a set guidelines.

When customers hit brick walls, they will naturally want to reach out to the support team for help. When they are unable to get through, they will be left frustrated. Sometimes, these users may not be able to gain access to their accounts, and who then can they turn to?

Exchanges have been known to use shady practices to profit from hikes in prices. Poor order books ensures that price fluctuations can occur in seconds, and manipulations are not helped by huge differences in ask and buy bids.

A lack of regulations is also a major concern for honest stakeholders in the industry. When projects do not deliver on their promises, there is no way for them to be held accountable.

HOW WILL ONAM ENSURE THAT THESE DO NOT OCCUR ON THEIR PLATFORM?
1. SECURITY
To improve on existing solutions, one has to do things differently. ONAM has come up with never before seen layers of security features that will ensure their platform remains safe for their users. Solutions such as Advanced Threat Prevention, Intrusion Detection, and Trade Surveillance systems are implemented for this reason. Measures to handle phishing, having 2FA and DDoS protection are also not forgone.

2. SCALABILITY
The platform was built with millions of traders in mind. This will ensure that they wont be running all over the place, when their user base shoots up unexpectedly. ONAM is able to handle more than 10 millions tps, while having very low latency rates of 40 nanoseconds.

3. MARKET MANIPULATION
ONAM always monitor trading activities, to ensure that no manipulations exist. By introducing solutions such as Supervision and Compliance system, Real-Time Market Surveillance, they are able to stay ahead of the competition.
Generation of Suspicious Activity Report for regulators will also be a regular feature.

4. CUSTOMER SUPPORT
ONAM goal is to ensure that users are attended to, within 15 minutes of opening up a query. Live chat support 24/7/365 will also be made available for their users, within the first six months of going live.

5. POOR MARKET LIQUIDITY
ONAM hopes to attract huge market makers, miners and volume traders via incentives. Traders will have access to order books from more than one exchange.

6. REGULATORY COMPLIANCE
The services of a top legal firm in the US that is very experienced in dealing with regulations has been acquired, to ensure that ONAM plays fair within the law, and does not get on the wrong side of the law. They also hope to be very open in their dealings, and believe that this will boost investors confidence.

ONAM’s FEATURES

• Ability to handle more than 10 million transactions per second along with low latency of 40 nanoseconds.
• State-of-the art security system, thanks to machine learning.
• Advanced order types such as Good Till Canceled, Take Profit, Trailing Stops, Iceberg Orders, Fill or kill, not foregoing technologies used industry wide.
• Margin Trading: Users are able to increase their trading power, by paying a little fee.
• Margin Lending: Users of the platform will earn interest on funds provided to traders.
• Composite Index Fund: Ensures users have improved ways of getting access to crypto assets.
• Paper Trading: Users interested in test running the process can do so, before they invest.
• Modular UI: Users will be able to modify their trading interface to meet their specific needs.
• Auto-Trading
• Trading Assistant: This generates Trading Alerts and Signals
• Social Media and Market Sentiment Analysis Tool: It analyses market conditions, gives users a better perspective and improves their trading decisions.
• Market Scanning: Users can fill in specific they want, and then they can pinpoint coins and tokens that meet their specific trading needs without all the hassles.
• Advanced Charting: Easy charting of assets, and handling everything on site.
• Trading experts will be facilitated to teach traders about best trading practices.
• News and announcement feed: Ensures traders have access to latest developments.
• Push Notifications to ensure it is seen on time.
• OTC Trading
• Multi-language UI
• Multi-language 24/7/365 live chat support for users.
• FIX Servers for institutional traders.
• Affiliate Program
• Advanced and custom API’s

** EXCHANGE FEES**

EXCHANGE UI PREVIEW

Exchange UI Preview

ICO AND TOKEN SALES

Token Allocation

• 65% is reserved for the ICO.
• 20% is reserved for the team and is released in a vested format.
• 10% is reserved for ONAM's emergency reserve.
• 5% will go towards bounty programs, advisors and strategic partners.
  Token Sales Fund Allocation
• 50% will be used for development purposes.
• 25% will be used for marketing/PR purposes.
• 15% will be used to take care of day to day operations.
• 10% will be reserved to cover legal expenses.

USE CASE
Dora has been a crypto investor and trader for the past five years. But within this time, she has been left unsatisfied with the level of professionalism displayed by exchanges she has used. High transaction fees has also ensured that the value she would have derived is watered down. Due to being locked out of her account and unable to access her funds, she vowed to look for another alternative, once she could get herself out of the mess.
By signing up via an affiliate link a friend sent to her, Dora is able to see an immediate impact on her trading activities. Her profit margin improves by as much as 30%, due to the fact that she has better tools to work with, hence she is able to make better trading decisions.
She also doesn’t have to forgo so much in transaction fees, as she is enjoying the lowest fees she has ever seen on any exchange. When she had some queries to clear up, Dora was attended to within an hour, and she was blown away. She has now signed up for the affiliate program and is getting some residual income by referring her friends and family.

CONCLUSION
By having the fastest transaction capability of any exchange, ONAM will be able to process more transactions than anyone, and their users will not have any reason to complain. Even though they are just getting started, and do not have any reason to be able to process 10 million transactions per second, they can focus on improving other areas, knowing fully well that whenever the need arises, users will not be left frustrated, but will be very well taken care of.

Having ample financial tools to work with will ensure that users will not make rookie mistakes, and will be less likely to lose funds, as compared to users of other exchanges.
When a traders is better informed, he/she will be able to profit more from the system.

Being regulation complaint will mean that ONAM is not in danger of being investigated by the SEC or any other regulatory body, and they are in no danger of being shut down.
Traders confidence is tied to this factor, and it is crucial that they adhere strictly to guidelines provided.

Everyone is happy when they spend less, and lower transaction fees will mean that traders benefit more. This remains the case for large volume traders, and small time traders.

Customer support is a grey area, when it comes to exchanges, and thankfully, ONAM is giving full attention to this program. If traders cannot have issues resolved, then they cannot bring in the profits. When queries are handled in a timely fashion, users will be pleased, and their faith in ONAM will only grow.

TEAM

ADVISORS

ROADMAP

MORE INFORMATION & RESOURCES:
ONAM Website
ONAM WhitePaper
ONAM Telegram
ONAM Reddit
ONAM Medium
ONAM LinkedIn
ONAM Instagram
ONAM Twitter

Entry to the @originalworks contest pasted below
https://steemit.com/crypto/@originalworks/1300-steem-sponsored-writing-contest-onam

Twitter:
https://mobile.twitter.com/OfficielCross/status/1062430581978550273
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