ONAM the compliant crypto exchange that the world needs

alz190 (55)in #crypto • 6 years ago (edited)

"Do not handover your money to someone you do not trust.
This is an age old saying that holds very true even for our crypto."

However the irony of the Crypto world is that we often have to exchange one Crypto for another and for this we have to use the services of an exchange that we may not completely trust.

Spare a thought~ how complaint is the exchange to which you are sending your money to?

Compliance is still a big word in the crypto world

The world of crypto is considered as the wild west by many which does not adhere to the regulations . The fact that quite a few exchanges that hold the users crypto funds get hacked and result in loss to the user.

ONAM the compliant exchange comes across as good news.

When it comes to trading one is better off being on a platform that is compliant. Here is where ONAM comes in as a fully compliant cryptocrrency exchange.

A deeper look a ONAM

Visiting the official site of ONAM https://onam.io
One is greeted with the pleasant sight.

Going through its whitepaper one finds the following features emerge as the salient points of ONAM. It has the following features built into their business model.

Compliance

As per the SEC directives all token assets are securities and their sale requires customers to follow the KYC norms. ONAM would ensure full KYC compliance.

Security

For any site or service of any value security is a matter of great concern. In recent times the security threats have only increased.
To secure the operations ONAM has a security first attitude as part of their development and operations facilities.
With this objective they have implemented

Industry standard DDoS mitigation
Anti-Phishing and 2FA solutions
ONAM has developed and implemented its own Advanced Threat Prevention, Intrusion Detection and Trade Surveillance system.
Powered by advanced machine learning and encrypted databases ensures the safety of the platform.
The system is designed to flag any potential issues and problems before it harms the system

Scalability

Almost all exchanges are limited by scalability issues that means that there are only so many transactions per second that an exchange can possible.
Usually these changes can handle a maximum of one or two million transactions per second.
So when there are a lot of transactions at a given exchange you may experience a lag and your transactions may remain pending resulting in lost opportunities.
All this is due to lack of scalability. Now let us check out ONAM.
ONAM has the capacity to carry out over 10 million transactions per second.

Transparency

ONAM uses Real Time Market Surveillance, Supervision and Compliance monitors to weed out any suspicious transactions.
Pre trade and post trade data is analyzed to identify suspicious activity like

Unusually large trades
Pass through trades
Wash trades
spoofing
Layering
Stuffing
Hammering
Front running
Momentum ignition

Custom Support

With most crypto exchanges getting any kind of customer support is a long drawn process however ONAM aims to offer a 24X7X365 support through live chat that too in multiple languages.
ONAM would aim to achieve an SLA of addressing the most common issues in the first 15 minutes of the support ticket being submitted.
Phone support would be offered within first 6 months of full launch so that no issue is unresoved.

Liquidity

Lack of liquidity is harmful for the efficient working of markets
ONAM plans to make it attractive for large market makers, miners and volume traders to be active on the ONAM exchange so that there is sufficient liquidity at all times.

ONAM is a new dawn in the world of crypto exchanges that promises so much more as compared to other exchanges

ONAM Token

The ONAM token and ICO
ONAM is a multifeature exchange and to make use of its various features one would need the ONAM tokens. Using the ONAM token a user can

Save upto 50% on trading fee
Access market sentiment and BI analytics data
Pay for trading bots etc

To help the growth of the ONAM token, ONAM plans to buy back tokens every quarter using 25% of company profits. These tokens would be destroyed till company has destroyed 50% or 150,000,000 of total supply whichever is greater.

ONAM ICO and token sale

At the time of writing this post the ONAM token sale is on
the details of which can be found here https://onam.io/#tokensale

token sale.jpg

Tokens exchange rate: 1 ETH = ~2,875 ONAM, 1 BTC = ~81,250 ONAM
Crowdsale participants must pass AML and KYC verification process to be able to claim their tokens. Tokens will not be released until this process is completed by the participant.

Unsold Tokens will be destroyed.

Use Case

Ryan is keen to invest into crypto and trade it to make a profit. He has been trading equities, FOREX and other financial instruments and feels he is ready to trade and profit from crypto.
However the lack of compliance of crypto puts him off.
Ryan comes across ONAM and finds the compliant crypto exchange he was looking for.
Besides he finds all the tools he could ever use to trade crypto, create strategies and test them.

Conclusion

ONAM is the crypto exchange that the world needs. It is compliant and meets all the requirements of the present and the future.
It is a crypto trading platform that offers