THE BRIDGE TOWARDS THE FUTURE IS HERE, THE FIRST FULLY COMPLIAN EXCHANGE PLATFORM NAME IS ONAM!

joelsegovia (65)in #crypto • 5 years ago (edited)

^Source

The crypto ecosystem is giving its first baby steps towards mass adoption, Blockchain Technology has changed the paradigms of value transfer, value storage, and value creation on the Internet. A new world where the value will be created and transferred with immediacy is upon us. We need a smooth transition that can welcome the new age without anarchically disturbing the already established system. Therefore, we need a platform that can handle all the needs of this new world while at the same time guaranteeing the complainant with well-proven security procedures.

Finally, such a platform is starting its operations, a talented team led by Alex Jumanev and Otto Inagamov have created ONAM! The platform that will create a new era of standardization in digital assets trading.

To better understand the audacious solution that ONAM will provide, let's describe the current challenges that current exchanges have.

Current Challenges on Digital Assets Trading & ONAM Proposed Solutions

Security breaches

Security breach is a ubiquitous concern on the crypto ecosystem. Major exchanges have been the target for hacks and fund theft since 2011, on 2017 crypto exchanges lost over $266 million and in the first half of 2018 major exchanges have suffered losses over $731 million due to security breaches. This trend is expected to increase as crypto gain mass adoption. But for big investors, this security lacking scenario is a no go.

ONAM's proposed security mechanism

It's well known that Security is key to determine market sentiment, ONAM's platform was built wit the a security first attitude. Besides implementation of DDoS mitigation, anti-phishing and 2FA solutions, a Advanced Treat Prevention, Intrusion Detection, and Trade Survilliance systems powered by AI and encrypted databases will be implemented. Also, mandatory quartely 3rd party security audits will be held.

^Source

Limited scalability on major exchanges

On late 2017 and early 2018, major exchanges were not able to handle the sudden increase of traders that wished to invest in the crypto ecosystem. Current platforms were found too rigid, and their matching engines weren't able to provide a good service during peak trading times. This situation led major exchanges to halt new users registration for several weeks. This added more uncertainty to a market that is yet to cement his foundations and which already has high volatility.

ONAM's platform scale-centered design

ONAM engineer team philosophy is that "if scaling is not fast, then it is too slow", they also pride themselves to provide a most needed solution that can withstand the heaviest trading peaks. They have created a matching engine that can handle 10 million transactions per second with latencies of just 40 nanoseconds. This was accomplished by utilizing GoLang , a programming language designed for Google to handle computationally intensive server applications.

Market manipulation

Large-scale manipulations are occurring within the cryptocurrency trading industry on a daily basis, regretfully major exchanges are plagued with several market manipulation techniques such as spoofing, wash-trading, and momentum ignition to pump and dump. People realises that as long as crypto market's behavior resembles to that we had on the far west, the risk will be too high for them to jump in this promissing new ecosystem.

Market manipulation prevention

The Real-Time Market Surveillance, Supervision and Compliance System analyzes pre-trade and post-trade data to identify suspicious activity such as unusually large trades, pass-through trades, wash trades, spoofing, layering, stuffing, hammering, front-running, and momentum ignition. These systems will guarantee fairer market conditions and will lower the risk for new investors to enter the crypto trading ecosystem.

^Source

Poorly managed customer support

ONAM's surveys show that customer support is continually addressed as one of the main pain spots for users on the main exchanges. Some have reported that their support tickets response had weeks of delay even when the user has a pressing issue such as 2FA reset, fund loss, and account lockouts.

24/7/365 Customer support

ONAM has made a commitment to offer a ever-available live chat support to address all user possible requirements, they said that submitted support tickets for common issues will be addressed within 15 minutes. Also, ONAM's customer support will offer a phone support the first 6 month after full launch.

Insufficient market liquidity

The foundation on which a successful exchange is built is market liquidity. One of the reasons that crypto has huge price changes in a time range of a few seconds are poorly filled order books. The huge bid/ask gaps drive illicit tactics by front-running, wash-trading or spoofing to simulate well-populated order books and profit from honest traders.

ONAM market makers

ONAM team has comminted to provide proper incentives to attract large market-makers, volume traders, and miners. Also, by utilizing other exchanges orders book, the slippage and market manipulation issues that arouse due to low liquidity markets will be halted. ONAM's orders books will be truly rich and fully transparent.

^Source

Lack of regulatory compliance

The US SEC has been scrutinizing most cryptocurrency exchanges, ICOs, and similar ventures while cautioning retailers and institutional investors from participating in cryptocurrency markets. An ecosystem where investors are protected is of paramount importance if crypto will be adopted on every aspect of our society. Lack of such protection mechanism left investors on an uncertain ground, the promise for high and rapid returns on some ICOs drive their investment to some project that in due time fail to provide the expected results, thus giving a bad image of the whole industry and preventing new investors to come.

ONAM compliance boost its reliability

The US SEC has stated that almost all token assets are securities, therefore all ICOs should comply with securities sale regulations. This changes the whole horizon for the token market, therefore businesses have to adapt to the new situation. ONAM believe that in order to attrack new retail and institutional investors, a fully compliant and transparent platform is required. ONAM have the advice of one of the top legal firms in the US to handle all legal affairs that the exchange has to take on. Therefore, the ONAM guarantee that the company is fully protected against the thread of being shot down by regulatory institutions.

21 Reasons that Make ONAM's Platform the Most Promissing Crypto-Exchange

ONAM's unparalleled highly scalable platform: ONAM offers a matching engine capable of handling 10+ Million transactions per second, it is designed to readily scale. Also, its AI-powered security system, robust risk-management, trade surveillance, and advanced trading tools allows to offer a great user experience.

Advanced order types: Traders will encounter a platform where their daily trading activities could be readily done. On ONAM traders will be able to sort orders in Trailing Stops, Take Profit, Iceberg Orders, Fill or Kill, Good Till Cancelled, One Cancels Other, Limit Order, Marker Order, Stop-Limit options, among many others.

^Source

Regulatory compliant margin trading: Regulatory compliant margin trading will allow traders to cancel lower fees to leverage their buying power.

Margin Lending: Users on ONAM will be able to earn interest for the funds their loan to margin traders. Margin traders will be able to fully customize their rate and durations settings when managing their loans.

ONAM Composite Index Fund: A Composite Index Fund will be available for users to get a diversified exposure to crypto assets. The Fund will be rebalanced on a monthly basis.

Paper Trading: ONAM will provide the opportunity to novice traders to trade on the platform, test the market conditions, and hone their trading skills without risking actual capital.

A Modular User Interface: Users will be able to customize their trading page on the way that best fits their needs.

Trade Assistant (only available for ONAM token holders): The trade assistant will be powered by AI algorithms that will give useful trading alert to ONAM token holders. The trade assistant will allow lowering the risk on an account balance and open positions, thus aiding the traders to stay profitable.

Auto trading (only available for ONAM token holders): Traders will be able to readily create trading bots based on their trading strategy with fully customizable indicators. Furthermore, traders will be able to use previous-made strategies by ONAM's trade experts.

^Source

Social media & market sentiment analysis tool (only available for ONAM token holders): ONAM will allow traders to have instant market sentiment reports, those reports will allow traders on ONAM to be several steps ahead of traders on other trading platforms.

Market scanning tool (Only available for ONAM token holders): The market scanning tool will allow traders to find the coins and tokens that best fits traders criteria, thus saving a lot of valuable time from trading opportunities searching.

Advanced Charting: (Only available for ONAM token holders) ONAM will offer traders a top charting tools to prevent the need of investing time and funds on 3rd party charting tools.

Trading expert feedbacks: (Only available for ONAM token holders) ONAM will be onboarding trading experts that will help novice and intermediate traders to fully develop and perfect their trading skills via educational videos and articles.

^Source

ONAM's news and announcement feed: ONAM has created a news feed to keep traders updated with the more relevant events and announcements on the crypto ecosysmtem. From this, users will be able to properly handle news based spikes.

Push notifications: Despite being a ubiquitous feature on most Apps, push notifications are missed in many major exchange platforms, that will not be the case on ONAM.

OTC trading: ONAM Platform will provide institutional investors and big volume traders the conditions required for their activities. Smart Contracts will be used to provide escrow services to guarantee a frictionless swap between funds and assets.

Multi-language User Interface: ONAM goals is to serve traders world wide, thus its user interface will support the most demanded languages.

Multi-language 24/7 live chat support: Users will be able to enjoy a 24/7 live chat support in order to address any difficulty as soon as possible. Also, security questions will be place in order to verify the user's identity and protect their accounts from unauthorized changes and theft.

^Source

FIX server for Institutional traders: ONAM will employ Financial Information Exchange-based servers in order to provide the best service available for Institutional traders.

Advanced and Custom APIs: Traders will be able to readily request the required information from ONAM servers thanks to ONAM's user-friendly and fully customizable APIs

Affiliate Program: It is well known that if a business cares for its users, their users will care for that business. Thus ONAM will introduce an affiliate program to offer premium features to the users that have the highest commitment with the platform.

ONAM's Enterprise Grade Security System

ONAM is proud to offer one of the most secure and reliable systems. Among its many strengths we can find:

ONAM AI-powered Threat Prevention and Intrusion Detection tools will guarantee the integrity of the sensitive user's data stored in ONAM's servers. Also, user's personal information is encrypted before it being loaded to the database. No passwords are stored and the system is not vulnerable against SQL injections.

ONAM Anti-Market Manipulation (AMM) AI-powered tool is a real-time market supervision, surveillance, and compliance tool that will allow to prevent market manipulation schemes and flag abusers. This tool will guarantee that fair market conditions are always present in order to comply with any requirement from regulatory bodies.

^Source

ONAM Anti-Money Laundering (AML) system will be AI-powered to enable checking user background in international databases and watchlists. The AML system will enable to detect suspicious activity and flag potentially illicit money laundering attempts.
Quarterly audits by third parties will be carried out in order to have reliable security protocols, architecture, matching engine, platform code, and order books.

ONAM will be partnering with BitGo^TM to be able to provide the best custodian service as possible. Users will enjoy a platform where their funds could be safely stored.

ONAM will thoroughly research hired employees background in order to prevent back actors that may compromise the security integrity of the platform for being hired.

^Source

ONAM Regulatory Compliance

ONAM will follow all regulatory laws and will totally transparent in order to guarantee the legitimacy of the platform during and after the ICO. Thus the requirements standards for SEC Reg S Category 1 and Red D Exemptions will be completely fulfilled. Also, investors will be checked against global AML watchlists.

Also, ONAM will not allow users whose local legislation doesn't allow ICOs to particiapte on ONAM ICO. Furthermore, ONAM will check the KYC information provided from each customer and people listed on any AML watchlist will be banned from the ICO.

^Source

On ONAM kickstart these assets will be available

^Source

ONAM use cases

In some Latin American countries, major retailers firms are eager to accept cryptocurrencies on their stores in order to seize the opportunity to provide services for a new niche of customers that is traveling the continent expending some the profit they have made due to trading activities. But, the legislation on the region still holds cryptocurrency in a gray area. They have no means to properly register they sell and to calculate the taxes because the exchanges established on their country don't meet international digital asset standards.

One day, ONAM marketing team launch an internet campaign and the owner of one of the retailers firms get to know about ONAM Platform, he is delighted because he will be able to accept major cryptocurrencies in his business. Since he usually travels to the US negotiate the purchases for replenishing the stock for his business, he also is able to purchase some of his merchandize directly with cryptocurrency, thus enabling him to get better deals and to increase the profit for his business.

Other retailers starts to join ONAM platform and the adoption of cryptocurrencies in Latin America starts to increase exponentially due to retailers being able to comply with local and international regulations for their crypto investments.