ONAM. High-performance, regulatory compliant, trading platform

jadams2k18 (64)in #crypto • 6 years ago (edited)

Introduction

We all know the massive increase that the world of the crypto sphere has had. Everyday born a new crypto. This has created a new financial structure that currently reaches billions of dollars. And with the diversification of cryptocurrencies, many companies dedicated to the trading of these are also born. However, the crypto market is very volatile and presents many drawbacks, such as theft and hacker attacks, fraud and also lends itself to illicit activities such as money laundering. All these disadvantages drive away the big investors and put many intermediate and novice investors hesitant.

However, the ONAM project is changing this paradigm, focusing on the security and legalization of trading activities of cryptocurrencies.

ONAM is an innovative, fully scalable exchange platform which has advanced security tools and risk management. ONAM imposes a new trend in cryptocurrency trading standardization to comply with international official regulations and statutes, in addition to committing to ensure the security of client funds and maintain a flexible and easy-to-use interface, supported by machine learning.

In this publication, we will see how ONAM offers a secure way to trade crypto assets and how it represents the best alternative both for new investors and for institutional investors who wish to start their trading activities in the world of the crypto sphere.

ONAM Platform

ONAM is a platform built by professionals committed to changing the trend of conventional exchanges, which have corrupted the cryptocurrency market and present a new alternative that overcomes the deficiencies and problems presented by the competition and offer a scalable, transparent exchange, focused on the safety and compliance with international regulations.

The platform makes use of innovative technologies, based on machine learning algorithms that not only facilitate the trading of cryptocurrencies but also maintain the security of users' funds, together with threat prevention systems, real-time monitoring and detection of intrusions to avoid hacker attacks. In addition, it has a collection of advanced tools that will take the trading experience to a new level never before seen, both for novice investors and experts and institutional investors.

Many of the problems that the exchanges present are the noncompliance with the official and pertinent regulations. ONAM works with regulatory bodies not only to comply with all requirements but also to obtain a broker's license and register as an alternative trading system with the SEC.

ONAM currently supports the trading of 25 different cryptocurrencies at the time of the initial launch. However, this list will begin to expand during the next weeks after the launch of the platform.

Challenges vs Solutions

Conventional exchanges face many challenges that usually end up closing or paralyzing the operation of them. Given this situation, the ONAM team has defined a series of solutions, which make the ONAM exchange platform a safe alternative for all those who wish to enter the world of trading crypto assets.

Unsafe exchanges and security breaches

The exchanges have always been the target of groups of hackers. In 2017, the losses caused by security breaches reach 266 million dollars and for the first half of 2018, they are over 731 million dollars. Experts predict that the attacks will increase in the following years.

Security

Given the attacks that the other exchange companies have suffered, ONAM team have made safety their priority when building the platform, implementing DDoS mitigation standards, 2FA solutions, anti-phishing; along with the development of their own systems of Intrusion Detection, Advanced Threat Prevention, which will detect any potential threat in real time, avoiding gaps; and Surveillance of trades. In addition to having machine learning and database encryption technologies. Thus, ONAM can constantly ensure the security of its users' funds.

Scalability limits other exchanges face

The exchanges will not be able to face the growth of the market in the future due to the problem of scalability of most cryptocurrencies. Many exchanges are already at their maximum capacity due to the increase of investment users and they never took into account the scalability limitations of many platforms, so they present an overload during peak trading hours.

ONAM Exchange Scalability

ONAM exchange is oriented towards scalability. Most exchanges cannot handle more than one or two million transactions per second. The ONAM engineering team is proud to achieve a performance of 10 million transactions per second with a latency of 40 nanoseconds. This is possible through the GoLang programming language, designed by Google, specially designed for intense server applications.

Market Manipulation

The US Department of Justice has opened criminal investigations into the manipulations of the cryptocurrency markets. Generally, these markets lack the necessary regulations resulting in manipulations from spoofing, wash-trading and other practices that make it impossible to win the trust of large institutional investors.

Real-time Trade Surveillance

ONAM uses artificial intelligence algorithms to perform surveillance and market monitoring in real time. ONAM makes use of the monitoring system for suspicious trading activities, which analyzes the pre-trade and post-trade data to identify activities such as wash trades, large trades, spoofing, stuffing and many others; with the purpose of generating reports for the authorities according to current and future regulations. In this way, market manipulation techniques are eliminated, ensuring better and safer marketing conditions.

Scarce customer service

Many of the cryptocurrency exchanges services have limited or scarce customer service. Surveys have shown a delay of up to weeks during the attention of user support tickets, even in cases of emergency.

Customer first

ONAM aims to provide the best support service in the industry. Oriented to offer a service 24/7/365, with live chat services, multiple languages and committed to solving common problems during the first 15 minutes of having been issued a support ticket. Even during the first 6 months, a telephone service will be provided to ensure that no problem is left unresolved.

Poor Market Liquidity

Liquidity is the main factor for the success of an exchange. The prices in the market suffer fluctuations in seconds due to bad order books, large gaps between purchase prices and sales of assets (ask and bids) which gives rise to illicit tactics of manipulations in the market, such as wash-trading or spoofing to simulate rich order books and benefit from price fluctuations.

Market Liquidity

The ONAM team is committed to attracting large market-makers or exchange members and miners willing to buy and sell securities at the price indicated in the exchange. ONAM will keep securing the volume traders (quantity of shares or contracts traded for a specific asset). In this way, keep a really rich and transparent order book of multiple exchanges to counter the manipulation of the market and the poor liquidity that many exchanges face on a daily basis.

Lack of Regulatory Compliance

Undoubtedly, in an unstable market, the lack of regulations makes it difficult to gain the confidence of both small investors and investment institutions. The fact is that as SEC (U.S. Securities and Exchange Commission) in its function of protecting investors, warns of the danger of investing in cryptocurrencies and ICOs that do not comply with the relevant regulations. Since many of these companies offer ambitious projects with high fictitious returns destroying the image of the entire crypto sphere industry.

Regulatory Compliance

SEC has established that all tokens or crypto are securities and has issued subpoenas to those ICOs and exchanges that do not comply with the relevant regulations. However, there are many companies that generate their tokens and execute operations without complying with regulations. ONAM, unlike other platforms, is committed to complying with regulations to ensure transparency and gain the trust of all its future investors. And to demonstrate this, ONAM has formed ties with legal firms in the United States to comply with any regulation necessary to operate legally and freely.

ONAM Platform Features

ONAM has a series of features, powered by artificial intelligence algorithms that make it a powerful, flexible and configurable tool for commercializing crypto assets. The platform has risk management techniques, surveillance of tradings, advanced tools for trading and a security system supported by machine learning algorithms. Among the most important features are:

Advanced order types. The platform offers a series of options to help the customer maintain their profits and assist them to reach successful levels in their daily trading activities. Among these are: Iceberg Orders, Fill or Kill, Good Till Canceled, Trailing Stops, Take Profit, Market Order and Stop-Limit and many others.
Margin trading. Margin trading refers to the practice of using funds borrowed from a broker to market a financial asset, which is the guarantee for the broker's loan. ONAM allows access to Margin trading that allows users to pay small commissions on borrowed funds in exchange for greater purchasing power.
Margin Lending. These margins allow users to earn interest on the funds they provide to the margins within the platform. The platform also allows establishing the percentage of interest and the duration of the loan.
Composite Index Fund. A composite index is a grouping of stocks, indices or other factors that are combined in a standardized way to provide a useful statistical measure of overall market performance over time. ONAM offer a rebalanced index fund monthly for its clients to have access to an intelligent and secure way to a diversified list of active crypto.
Paper trading. This feature helps users improve their trading activities. This feature is a kind of training for a novice or intermediate traders that will allow them to test market conditions and perform tradings without compromising their real capital. This way they will improve their marketing skills.
Modular UI. ONAM has a modular user interface that allows you to configure the trading page in such a way that it meets the needs of the clients and facilitates the trading activities and resolves the deficiencies and design flaws of the existing exchanges.
Trade Assistant. ONAM has an assistant based on artificial intelligence, which will help clients to remain profitable, limiting risks through alerts and signals, depending on the balance of the account and the risk tolerance of each individual trader. In this way, the client will increase their profitability and avoid falling into losses.
Auto-Trading. This feature allows users to create trading bots, programmed with their own trading strategies or can use the bots of the platform created by experts, to perform marketing activities automatically without the presence of the client and thus take advantage of the best offers of the market at all times.
Social media and market sentiment analysis tool. This tool allows users to analyze market conditions quickly in order to make better decisions when marketing assets. This tool is based on machine learning algorithms.
Market Scanning tool. This tool allows customers to find assets or tokens based on specific criteria so that they do not waste time performing searches manually. It is important to emphasize that the best tradings are those that involve the most volatile assets in the market. Like the previous tool, this tool is based on machine learning algorithms.
Advanced charting. Price charts are highly visual, showing where the price of an asset has been in the past, the current price trajectory and how volatile are the movements of asset prices. ONAM has technical analysis tools and an advanced graphing tool that allows users to graph any asset that they desire, without using a third-party tool or leaving the platform.
Trading Experts. ONAM will have marketing experts to educate novice or intermediate investors through videos and articles so they can learn the fundamental market analysis techniques and know the platform. In this way, achieving one of the goals of the platform: to give rise to a community of educated and robust traders
News and Announcement Feed. ONAM has a news and announcements section to keep clients informed with the latest news related to cryptocurrencies and ICOs. In this way, traders will be up to date with the latest information regarding the assets they manage.
Push Notifications. Most applications make use of this type of alerts to keep their users updated. However, trading platforms lack this feature. ONAM exchange will make sure to keep its users alerted immediately through push notifications, about the orders they make and the list of new tokens, as well as other activities in real time.
OTC Trading. OTC trading or over-the-counter trade is done directly between two parties, without the supervision of an exchange. Unlike exchanges that provide transparency and maintain the current market price, in OTC Trading, the price is not necessarily published for the public. ONAM allows this type of trading for both institutional investors and large traders through smart contracts. ONAM will function as a security deposit to guarantee a smooth exchange of funds and assets.
Multi-Ianguage UI. ONAM exchange platform has a user interface that allows changing the language to provide a better service to customers who wish to carry out their tradings in their preferred or native language.
24/7 Multi-Ianguage Live Chat Support. As mentioned above, ONAM is committed to offering an excellent customer support service, through a multi-language live chat, which can help solve any problem the user may have, regardless of language and in a fast way.
Security questions. ONAM implements a policy of security questions to identify customers and keep accounts secure and free from unauthorized access.
Others features. FIXServer for our Institutional traders; advanced and custom APls; affiliate program.

Regulatory Compliance

ONAM is dedicated to working with regulatory agencies in the United States and other jurisdictions to comply with all legal measures necessary to promote the sustainability and legitimacy of the platform.

To demonstrate transparency to all its clients and all regulations are complied with, ONAM's ICO complies with the Crowdsale standards imposed by SEC Reg S Category 1 and Reg D Exemptions.
In the coming years, any exchange that does not comply with the regulations established by US SEC, FINRA and FinCEN will be closed. ONAM complies with the strict anti-money laundering (AML) laws and is at the forefront to fully comply with all regulatory agencies to prevent unexpected closures. In addition to this, ONAM is doing all the paperwork required by SEC to register as Money Transmitter in all 50 US states; obtain a Broker license, register as ATS (Alternative Trading System) and become an SRO (Self Regulatory Organization) member.
it's imperative for all members of the platform must comply with the KYC/AML process.
In no way will the participation of restricted people be accepted and the platform reserves the right to refuse and cancel any token purchase if the information provided in the KYC is not correct or belongs to a restricted person.
As is well known, any project involves risks, such as the tokens are not reimbursable, there are regulatory risks of the client's own country, there may be hacker attacks on smart contracts, there may be little interest in the project. Therefore, it is recommended that clients consider the risks and take the necessary measures in this regard.

Enterprise Grade Security

The security system of the platform is reinforced by artificial intelligence algorithms that include intrusion detection tools and advanced threat prevention technology. Even when the platform is not vulnerable to SQL injections, all user information will be encrypted before being stored in the database and the keys will never be stored.
To maintain optimal market conditions, the platform has an anti-market manipulation system (AMM), which uses artificial intelligence algorithms in real time to supervise and monitor the market and detect any illegal suspicious activity within the platform. The system is capable of recognizing attempts at market manipulation, wash trades, large unusual trades, among others.
The exchange platform of ONAM has the AML (anti-money laundering) system to detect clients who are persons of interest to the authorities. This is done thanks to the use of machine learning algorithms along with the help of international databases and watchlists.
ONAM undertakes to perform quarterly third-party audits of our security protocols, architecture, match engine, code and order books; to guarantee transparency and high-security standards.
ONAM will establish a partnership with BitGo™ (market leader in institutional-level investment services provider for cryptocurrency) to offer institutional degree policies, 100% multi-signature cold storage in bank-grade class III vaults for more than 75 tokens. The partnership with BitGo will allow institutional customers to securely store their funds.
To further ensure the security of the platform, all employees must undergo a rigorous credentialing check and receive appropriate training before beginning work for ONAM.

Exchange Fees

ONAM offers, as we can see in the following comparative image, the lowest commissions in trading compared to the top exchanges. In addition, it presents a series of characteristics that make it a more robust platform before the others.

Source: White paper

Exchange UI Preview

Source: White paper

Use Case

Mike is an average guy (like me and many other people I know) who wants to invest in cryptocurrencies, however, he has never used an exchange and has no trading experience. Like everyone else, he feels intimidated by the things he has heard about the world of the crypto sphere. A world that only hackers, murderers, gangsters, and drug dealers circulate. A world where you can lose all your money overnight. Nevertheless, he has also heard of cases of people who become rich overnight by investing in Bitcoins.

Source

Mike decides to find out more about it and finds ONAM, a platform that is not an exchange like the others. ONAM has videos and didactic material where he learns what he needs to start making his first tradings using ONAM's Paper trading tool, which allows him to simulate trading and learn to know the crypto market. He begins to know all the advantages ONAM offers, like having the lowest fees and allowing the highest number of transactions per second. He learns about liquidity. Thanks to pushing notifications, he keeps up to date with the most profitable crypto assets and along with the help of bots and artificial intelligence algorithms, avoids wasting his funds on bad investments. Soon, Mike realizes that ONAM allows exchanges anywhere in the world, including the United States, which gives him the confidence that his assets are not only safe but also he is in a safe environment where all crypto assets listed are 100% legitimate and legal. Mike is happy to be part of a community of legal and trustworthy crypto investors.

Token Utility

ONAM has its own token, called ONAM, ERC-20 compliant. Which will be offered during the crowdsale. These token are important to use all the features of the platform. By using ONAM tokens, customers can save up to 50% in tradings fees, they can also unlock extra tools, such as trade assistant, maker scanning tool and trade alerts and signals.

These tokens will only serve within the platform, they will not be listed in any other exchange. ONAM holders will not be entitled to control of the company, voting rights or profits.

ICO Schedule

Source: White paper

Token Sale Details

Source: White paper

Conclusion

ONAM is a platform that will break the schemes we know about exchanges. Starting with being the exchange with the lowest fees in the market, also has a capacity of 10 million transactions per second, superior to all others; two features that will attract many customers. In addition to having a 24/7/365 customer support, multi-language has no comparison with any other, which increases the confidence of customers. A modular interface empowered with machine learning algorithms that are aware that users don’t lose their profits. ONAM offers a robust platform fully committed to the safety and comfort of its customers.