Onam:Redefining Crypto asset Exchange and Mangement

in #contest6 years ago (edited)

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Overview of the Crypto Market

The cryptomarket has seen a pushing increase over the last few years,by the start of this year the total market cap of every cryptocurrency advanced to an estimated value of 1 trillion dollars.Many exchange platform were unable to perform transaction effectively and fast due to the absence of mass adoption.As it it now we are still at the early phase of mass adoption and many exchanges platform are already failing,yet there are also greater challenges to be seen in this sphere. Most exchange platform are not equipped with the demanding need of future exchange features crucial to an effective exchange by retail traders and institutional traders.Heavy traders and small scale traders will benefit largely from the exchange Onam platform.

Here are a few things we are going to be enlighten about in this article about Onam:

  • The problems plaguing the current exchange system?
  • What is Onam?
  • what are some core features of Onam?
  • why is Onams aim to compliant so important?
  • How will Onam low fees beneficial to crypto traders?
  • What is the impact of Onam colossal scalability?
  • How will the dedication to customer service increase customer experience?
  • What are some use cases of the Onam platform?

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Challenges of existing crypto exchange

The present crypto exchange system is not free of challenges here are some of the challenges of that these exchange platform experience:

Insecurity

The issue of security breach has grown at a very alarming rate.Over the years many exchange platform has been victimized by hackers who make away with millions of dollars worth of assets.In 2017 alone crypto exchanges lost an estimated amount of $266 million dollars to security breach on the exchanges,In the first half of 2018,major exchanges has already suffered a significant loss of $731 million dollars.The scale of these attacks has only increased in recent years.However experts also predict more security breach on exchange platforms making the need for an uncompromising,breach proof exchange that will assure investors of the safety of their assets.

Poor Scalability

Trading volume among exchanges has taken a sonic rise,exchanges that operating under the old mechanism are often overhauled due to the number of transactions carried out within these outdated matching engines.This issue is one of the major reason crypto currency hasn't moved forward into mass adoption due to its very low transaction speed.Most exchanges operate under the range of 2 million transaction per second,which is not fast for heavy transactions processing at the same time.Most major exchange have had to stop accepting new investors due to the overload of the transaction systems for weeks.truly the issue of scalability is a problem yet to be solved.

Market Manipulation

The amount of market manipulation that exist in the crypto market which is already volatile is one of the major reasons institutional investors close the door to the crypto market.The US DOJ opened a criminal investigation concerning crypto currency market manipulation is another undeniable reason that market manipulation is quite an issue in the crypto world.Techniques used by these manipulators include spoofing,wash trading and momentum ignition to pump and dump,experienced traders and amateurs are also deceived by these techniques,making it difficult to gain the trust of the masses.

Poor customer Care and Support

A recent survey on the major exchanges in the crypto market has shown that these exchanges customer support service are very poor.many traders both large scale and retail traders all complain the lack of a responsive customer care system,customers has had to wait for weeks for their complain to be addressed or issues with the exchange.This issue is very crucial when asset theft,account lockout and 2Fa resets.

Onam and its Solution

Onam is a new generation exchange platform that is built mainly on this compliant feature that will accommodate both the current and future market nature.Its very salable,safe and packed with every available exchange tool fitting for the current market needs.Onam is also fully compliant to the rules and regulations as set out by SEC and other regulatory bodies.

Onam has also taken a huge step in ensuring that the traders assets are protected and safe.The issue of insecurity in the exchanges has grown with each new beach,so Onam has integrated a breach proof system that will ensure the safety of traders fund.Onam guarantees this with its advanced threat prevention,intrusion detection and trade surveillance powered by machine learning system that will monitor and alert any trade manipulation or security threat.

Onam has an attractive modular user interface that will take away the guess wok of market prices and liquidity.Onam offers traders a fully packed market and transaction tools that will create a remarkable traders experience to all of its investors.

Solutions

Onam offers investors unparalleled user experience with its breakthrough in the challenges facing the crypto market,here are some of the solutions Onam is offering:

Unbreachable Security

As the market continues to grow we are face with a lot security breach by groups of hackers that make away with loads of assets.Onam developed its exchange to become an unbreachable wall to hackers,it has achieved this thorough the creation of anti-security breach barrier.It is powered by machine learning along with other encrypted codes.some of these systems include Advanced threat prevention,intrusion detection and trade surveillance to monitor and report any threat to traders security.

Scalability

Onams team has worked very hard to see that its exchange out perform the existing exchanges with scalability in mind.This platforms matching engine is programmed to handle comfortably 10 million transactions per second with latencies as low as 40 nanoseconds,this is a large improvement when compared to other exchange 2 million transaction per second .This was accomplished using the Golang programming language developed by google,built specifically for intense server applications.

Transparent Market

Onam makes use of its real time market surveillance system and supervision and compliance system that monitors suspicious trading activity and volume.These systems analyses pre market and post market trading in the exchange trying to identify market manipulation techniques such as pass through trade,unusual large trade,spoofing,layering,hammering,front running and momentum igination.The analysis are now reported to the market regulators for further investigation.

Effective Customer Service

Onam is very dedicated to customer satisfaction,unlike other exchanges Onam responds quickly and available 24/7/365 live chat in many languages,in cases of simple issues am agent is set to resolve any difficult you may have in not less than 10 minutes.There is also an arrangement for phone support within the first six months of full lunch.

Regulatory Compliance

Regulatory bodies such as SEC has proposed rules and regulations that will guide the issuance an use of tokens.Sadly many exchanges has chosen to overlook these rules which might affect their legal standing in the system denying traders access to their buyers.Onam compliance to these regulatory bodies rules is at 100%following the procedures set out by these bodies.Onam has also taken a further step to ensure that its exchange is free from any illegal dent,it has retained a legal firm in the united states to handle any issues that may be seen in the future.

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Onam Core Features

Onam is embedded with much features to oversee a smooth exchange transaction and great user experience :

  • A tight proof security system that will prevent any sort of security breach,market manipulation and money laundering powered bu machine learning.
  • A very high matching system that is capable of carrying out 10 million transactions per second with a very low latency of 40 nanoseconds,unparalleled with any matching engine in the exchange space.
  • Advanced order types:This will aid customers to become more successful in their trading activities.trailing stops,take profit,fill or kill,good till canceled and lot more all aid traders to have the best user experience.
  • Margin Trading:This feature is designed for traders who wish to buy bigger assets,a small percentage is paid by traders in order to obtain larger trading capabilities.
  • Margin lending:Colossal traders who wish do business with their idle funds can lend their funds to margin traders on Onam.However these large traders will earn interest from the loan they have extended to margin traders while having the sole decision on structuring the agreement concerning the rate and deadline of the loan.
  • Composite index fund:Onam gives a monthly review of diverse crypto assets.Enlightening traders on which coin or token to invest on.
  • paper Trading:Onam has designed this feature especially for amatures in the exchange.These novice traders will buy and receive transaction on the exchange without the deposition of funds into the exchange.This will help them to gather more experience and skills before they are ready for serious transactions.
  • Modular UI:Onam has designed a perfect users interface to accommodate the needs of traders leading to a successful transactions.Unlike major exchanges Onam offers simply the best in terms of user experience.
  • Trade Assistant:Onam is packed exceptional tools to help traders have a great experience.trade assistant is aimed at limiting the risks of traders based on account balance,current positions and unique risk tolerance.
  • Auto Trading:Traders in Onam can create their won bots to handle some activities i the exchange based on their own market strategy or the ones created by experts in the exchange.
  • Advanced Charting:In Onam exchange platform,there are alot of technical information that traders are fed.This way Onam chart any given assets,given traders no further to chart and spend their asset on other charting platforms.
  • Trading Experts:This exchange is equipped with qualified experts who have a broad knowledge about crypto and exchange market are available to educate novice and amateurs through videos and articles written to teach amateur traders.
    *OTC Trading:This platform is built for buying and selling of assets in the exchange without adding to the volatility of the market.Smart contracts are used in ensuring the smooth run of transactions in the Onam exchange.
  • Multi language UI:VOnam customer service will be translated into many languages so traders will be serviced in the language they understand best.
  • Live chat(24/7):In order to promote a great user experience a live support has been create to aid traders with issues in an organized manner,no matter what the problem may be Onam customer care is there for you.

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Low Exchange Rate

Onam has achieve quite a lot in the exchange sphere,providing traders with a very low exchange rate while offering the best the exchange has to offer.The exchange has its exchange rate as 0.05%below is a comparison of Onam and other major exchange:

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Onam ICO

As of the time of writing this post Onam has gone deep on their crowd sale,presenting its ERC-20 token based on etherum named ONAM.Crowd sale is available in both BTC and ETH.We are currently on the crowd sale which will end on December 21st or whenever the available tokens are sold out to its entirety.

Onam has a total of 300 million tokens available,with 195 million available for crowdsale .This platform has a softcap of two and half million us dollars and a hardcap of fifteen million six hundred thousand us dollars.any leftover token remaining after the December 21st will be destroyed.

Token sale Details based on September 19th 2018,ETH price

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Token Allocation

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  • 65% -of the total token represent the 195 million token available for crowdsale.
  • 20% -Goes to the team.50% of these tokens will be withdrawable after six months of lunch and the rest after a year of lunch.
  • 10%-This percentage is left in case of emergency,such as market liquidity and legal issues.
  • 5%-This part is left for bounty,advisors and strategic partners.

Token Sale Fund Allocation

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  • 50%-will be used for development on Onam platform.
  • 25%-will be used for marketing such as platform education and community outreach program.
  • 15%-will be used for the day to day operations of the company,including office management,salaries and maintenance.
  • 10%-will go to legal expenses concerning this platform and its compliance cost.

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Use Cases

Esther is an experienced crypto trader who has lost money on lots of fraudulent ICo's. She has almost lost faith in ICO's and blockchain technology as a whole. When she heard that there was a blochchain summit in her town, she decided to attend. On the summit, Esther heard about ONAM, a cryptocurrency trading platform with state-of-the-art security features. Esther came back after the summit and decided o investigate. After spending several hours pouring through ONAM website, Esther was convinced that ONAM is what she has been waiting for. She created a wallet and is happily enjoying trading on ONAM.

Robert wants a cryptocurrency exchange platform that will not delays his transactions. So when Sam, a friend told him about ONAM, he decided to research the technologies behind ONAM's speed. After spending several hours looking over the technologies explained on ONAM's website, Robert created a wallet is trading on ONAM. Enjoying the speedy transactions that only ONAM can afford.
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Coins that ONAM will feature

Team

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Advisory Board

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Onam Roadmap

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For more information visit the links below

Onam Webiste
Onam whitepaper
Onam Telegram
Onam Reddict
Onam meduium
Onam LInkedin
Onam Instagram
Onam Bitcointalk
Onam Twitter

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The images and pictures used in this contest was gotten from Onam whitepaper and website.

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This contest was organized by @originalworks,Here is a link to the contest

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Onam2018

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