ONAM: A New Exchange that Solves all the Current Challenges in the Cryptocurrency Market
Actual Challenges in the crypto-exchange
Unsafe exchanges and security breaches
It is averaged that the volume circulating in the crypto-world is currently a little more than $ 9000 million dollars, no doubt any hacker is exalted with this figure, so they will go for those exchanges where the level of security can be easily breached. For example, in the first half of this year, it was reported that $ 731 million dollars were stolen in the crypto exchanges.
So one of the great challenges that exchanges have is to provide security against any type of attack that attempts to violate the system.
Scalability limits
After the great increase on the price of the cryptocurrencies at the end of 2017 and the beginning of 2018 thousands of users have wanted to join this ecosystem. However, due to the scalability problems that most exchanges have, many investors could not register and abandoned.
Some people expect the number of users in the crypto-world increase from 40 million people that currently there exist up to 1 billion users. Are the crypto-world and the exchanges ready to receive this wave of people?
Market manipulation and Lack of regulatory compliance
The high volatility of the cryptocurrency market has made new investors hesitate to enter this world. It is believed that there are people with false identities that move the market at their convenience. This is tolerated by some exchanges since they do not have any level of regulatory compliance.
Therefore, the lack of regulation and the instability of the market mean that exchanges are not a reliable place for people or institutions that wish to invest.
Poor market liquidity
The lack of liquidity within the cryptocurrency market produces volatility since there is a large gap between the purchase and sale orders. Allowing individuals who wish to manipulate the market to do so in an easier way.
Lackluster customers support
The support that customers currently have within the exchanges is very poor. Users loss time waiting for an answer about important problems such as fund loss, blocking of accounts, among others.
Thus, the current infrastructure of the exchange platforms has not been able to adapt to the changes that the crypto-space has experienced. These changes should begin by improving mainly the scalability of the system, security, and anti-market manipulation policies. Thousands and thousands of users join on a daily basis to this ecosystem, trusting and placing their money in this new world. To offer solutions to these problems is ONAM.
ONAM is an exchange with the best tools so that its users have an unparalleled experience when trading. ONAM has advanced systems for preventing threats, stopping intruders (hackers) and monitoring tools for traders. ONAM promotes a new system in the world of digital asset trading.
Challenge accepted by ONAM
Security
ty For ONAM, safety comes first, since being such a new world if you offer people reliability, users will know the wonders of your service. So, ONAM has worked on Advanced Threat Prevention, Intrusion Detection and Trade Surveillance.
Good hackers rarely are solitary people trying to attack big systems. They are really large groups of hackers that are dedicated to organized cybercrime. So platforms that handle large sums of money must be shielded on all sides to avoid being violated.
ONAM uses a single monitoring system in real time since it differs from other exchanges that are prepared to notify that were stolen and doing nothing. ONAM has developed a system based on machine learning (a method of data analysis that automates analytical models building based on Artificial Intelligent) along with encrypted databases that works second by second so that when there is a failure or an attempt to violate the system automatically and in real time, monitoring the system 100% of the day.
So even the most exceptional users can trust ONAM, since they will have their funds totally safe. So forget about keeping your money under the mattress, say goodbye to that annoying headache.
Scalability with Mass Adoption in Mind.
10 million transactions per second at a latency of 40 nanoseconds. This is the speed that ONAM has to attend all the transactions within its exchange. While other exchanges do not exceed 2 million transactions per second. ONAM seeks to be faster to meet the great demand of current users and the one that is approaching in the next few years.
Market Manipulation and Lack of regulatory compliance
These are recognized as suspicious activities within the exchanges: unusually large trades, pass-through trades, wash trades, spoofing, layering, stuffing, hammering, front-running and momentum ignition. ONAM uses machine learning technology to monitor in real time before, during and after the trade. Verifying second to second that there is no suspicious activity that promotes market volatility.
ONAM believes that by regulating its exchange with SEC (U.S. Securities and Exchange Commission) many investors and retailers will trust in the crypto-world. No more anonymous people playing as they please with the price in the market of cryptocurrencies.
Poor market liquidity
Attracting market-makers, volume traders and miners, ONAM will seek to overcome the low liquidity of the markets by incentivizing them and using orders books from different exchanges.
Customers support
ONAM has a Live Chat in several languages 24/7/365 days of the year. So if you have any questions or complaints, the ONAM team will take care of you quickly. And if that were not enough, the first 6 months of its full launch will offer support through the phone. ONAM offers a unique support, to address the concerns or problems presented by users and to repair system failures.
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ONAM and an endless number of novel and great features
- ONAM is powered by Machine Learning, offering a high performance against security problems, scalability, market manipulation, trade surveillance and unparalleled tools for trading.
- ONAM offers multiple types of orders: take profit, trailing stops, iceberg orders, fill or kill, good till canceled among others.
- Margin trading allows users to pay small rates of loan funds in exchange for a large purchasing power.
- Margin ending allows users to earn interest on the funds used in Margin trading.
- Composite index fund allows users access to a secure path for the diversification of their active crypto.
- Paper trading allows users less experienced in trading, perform market conditions and order types without compromising the current capital, while improving their skills.
- Modern UI (User Interface) allows users to customize their trading page, adjusting it to their requirements.
- Advanced charting allows users to chart any asset without the need to exit the exchange or spend more funds.
- Trading experts allows users (novice and intermediate investors) to educate themselves with videos and articles to learn the technical foundations for trading analysis.
- News and Announcement Feed allows users to be informed of the latest cryptocurrencies.
- Push Notifications allows users to be updated, as alerts (order fills) and alerts of the activities of your ONAM exchange account in real time.
- Over-the-counter (OTC) Trading allows institutional investors and large traders to buy and sell assets without the need to go through the volatile market. Trustless smart contracts are used to seamlessly exchange funds and assets.
- Multi-language UI breaks the language barriers, allowing any user regardless of their native language to join ONAM.
- Multi-language 24/7 LIVE Chat Support allows users to be assisted if they have a problem, it does not matter if it is a big fish or a skinny fish.
- ONAM has FIX Server for institutional traders. It also has advanced APIs and affiliation programs.
- Trade Assistant provides Trade Alerts and Signals, limits the risk based on the balances of the accounts and the risk tolerated by each trader, increasing the benefits for the users.
- Auto-Trading allows users to create their own bots with the trading strategy they want, but can use bots already programmed by professionals in trading.
- Social Media and Market Sentiment Analysis Tool allow ONAM users to make the best decisions at critical moments. This is possible thanks to the implementation of rapid machine learning analysis.
- Market Scanning allows users to evaluate cryptocurrencies based on a particular criterion of the trader, for example to evaluate the volatility of one or several currencies in specific.
The following features and services are only valid for ONAM Token Holders
Compliance & Security
To avoid any problem during and after the sale in the ICO, ONAM works with the regulatory bodies of the United States to ensure that they are in compliant and prevent a shutdown of the platform.
ONAM has a high level of security based on machine learning technology, being invulnerable to:
- SQL attacks (password stealing and identity), Advanced Threat Prevention and Instruction Detention Tools.
- Anti-Market Manipulation (AMM) is a system supported by the Machine Learning technology, where real-time market monitoring, to avoid suspicious activities, such as wash traders, pass through trades and so on.
- Anti-Money Laundering (AML) This system is also based on Machine Learning technology. It allows seeing the data of the clients in international databases and watchlists, to avoid money laundering attempts.
- ONAM performs Quarterly Third-party Audits of its architecture, security protocols, among others, to achieve great acceptance, transparency and a high security system.
- BitGo is presented as The leader in security, compliance, and custodial solutions for blockchain-based currencies. This company is associated with ONAM in order to offer custodian Services for investors Institutions. As well as: "Institutional-grade policy controls, multi-signature 100% cold storage in bank-grade Class III vaults for over 75 coins and tokens.
- To continue guaranteeing the safety of ONAM, new employees must be verified by their background and be instructed with the vision of ONAM.
ONAM: Token and ICO
The ONAM token is an ERC-20 based on the Ethereum platform. His name is ONAM. With the token, users can access unique features (named above) and pay less for trading commissions, BI analytics data, pay for trading bots and so on, exactly 50% less. However, it is not limiting for the Trade Assistant, Market Scanning Tools, and Trade Alerts and Signals.
The ONAM token is not active to speculate and its growth is not linked to the success of the platform. In addition the ONAM token will be only in its exchange, it will gain value by using it within its own ecosystem.
300 million tokens will be issued, of which 65% will be for the Crowdsale.
The ICO began on October 1 and will end on December 21 or until the 195 million tokens are sold. If all the Crowdsale tokens have not been sold on December 21, they will be destroyed. Those who wish to acquire the ONAM token must do so through BTC or ETH. "Tokens exchange rate: 1 ETH = ~2,875 ONAM, 1 BTC = ~81,250 ONAM".
ICO schedule and Token Sale Details
ONAM Support for 25 Coins and Tokens for Trading at it's initial launch
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Token Buyback
Token Allocation
Token Sale Funds Allocation
Do you want to buy tokens?
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USE-CASE
Marcos is an enterprising man of 34 years of age that lives in Uruguay. He has read about blockchain technology, and he is especially fascinated with the cryptocurrency market. Marcos speaks only Spanish, so he has had many problems accessing, registering and using the tools of current exchanges, such as Binnance. What little he knows he has learned with tutorials in dtube. He wants to learn and answer all his questions, but the language is an important barrier in the cryptocurrency markets, and he dares to take no risk since his money is at stake. Marcos wants to learn how to trade with real professionals.
In addition, he is a shareholder of an important Institution, so he wants to tell his partners to invest in this platform.
When meeting with their partners, they end up fascinated with Marcos proposal, but they know of several scams in the cryptocurrencies market and market manipulation, so they doubt and prefer not to invest their large funds in these platforms as it is a very insecure and very volatile market.
After several weeks Marcos walks down the street and hears people talking about a new exchange that went on the market where you can learn to trade without risking losing your money, his name is ONAM. When Marcos arrives at his house, he researches this new platform and is impressed with all the innovative features of this exchange.
With ONAM Marcos can perform market conditions and order types without compromising his capital; learn with videos and articles the technical foundations to make trading.
In addition, ONAM offers Marcos a unique interface with innovative options since he can customize his trading page adjusting it to his requirements or implement that of a professional. He also can be aware in real time of the actuality of the cryptos, he can be assisted 24/7 in LIVE Chat regardless of the language he speaks. And if Marcos wants a bit more, he will be able to program bots at the same level as professional traders and use tools like Market Sentiment Analysis Tool to take the best decisions in the most critical situations.
With this series of features Marcos was positively impacted by ONAM. In addition, ONAM is at the edge of technology with machine learning that offers security to its partners 24 hours a day, avoiding any type of scam, hacking and market manipulation.
Marcos gets everything he wants for trading in a single place with ONAM, it does not matter if he wants to use the exchange for his individual or collective benefit.
Conclusion
For ONAM to work with regulators to be complaints is very important, since it allows its platform to be a sustainable, transparent and legitimate structure. In contrast, other platforms that have not followed the regulations that dictate the jurisdiction of the United States regulatory bodies end up closed. Since they do not follow the rules and are not transparent, they end up cheating many people in the ICO or in some other blockchain projects. ONAM is currently working to obtain a Broker-Dealer license, register as an Alternative Trading System (with the U.S. Securities and Exchange Commission) and money transmitter license.
ONAM is very clear in solving the problems of MASS ADOPTION, making its exchange transparent and totally scalable (over ten million transactions per second), for the present and for the great future that is coming. It also allows novices or more experienced in trading to use endless tools, either to learn to trade or to become a professional in the market.
ONAM implements machine learning to become an unbreakable platform, since it has real-time surveillance of everything that is happening, avoiding hacking attacks and preventing distortions or manipulations in the market.
More information
Exchange Fees
Roadmap
Download their Whitepaper
Team
Advisors
Social Networks
Telegram | BitcoinTalk | Medium | |
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Here is the link to my tweet about ONAM
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