OneLedger

OpenLedger Advantages

Decentralized exchange – trading on such a platform is safer than dealing with most centralized exchange. This is due to the fact you have control of your actual coins, instead of sending them to a company (which may or may not be that trustworthy). Instead, accessing OpenLedger happens via MetaMask – an extension for your web browser, which serves as a wallet.

Lifetime Membership available – much like RuDEX, this exchange offers membership for the price of 694.70219 BTS (approximately $175, at the time of writing). This will allow you to refer other users to the platform and get an 80% cashback on the trading fees (which aren’t precisely described).

OpenLedger Disadvantages

Isn’t that simple – OpenLedger isn’t a beginner friendly exchange. We realized how it works, in general, but we may still be missing some details. Prior experience with cryptocurrencies, decentralized projects and MetaMask will be needed.

A lot of details aren’t specified – even considering this isn’t a typical exchange, we feel the team at OpenLedger could have done a better job at presenting their service. We didn’t find any information on the costs of trading. It is common for such projects to have a more complicated trading fee structure, but we didn’t find any info provided by this one. A “margin” section is present within the platform, but the conditions involved with it aren’t specified.

Withdrawal fees present – these are the only fees which we found clear information on. Most of them aren’t that high. Here is a preview on some, including BTC (click to zoom-in):

Approximately $15 withdrawal fee for USDT – the only shocking rate which we saw when scrolling down this table was the one for USD Tether. Here is a preview (we didn’t include the whole table, as it is simply too long):

Team
5/5 All-Star

The team behind One Ledger is quite solid, based out of Canada with very strong engineering and development talent.

This is a very technical project, so it’s good to see that the core team consists of 3 people with the word “engineer” in their title, as well as a CTA (Chief Technical Architect). Even the managing director went to University of Waterloo(top engineering school in Canada) and has worked as a blockchain engineer before, while the lead engineer has worked at Morgan Stanley and as a consultant for Deutsche Bank.

The CEO has worked in enterprise software, which is the target customer for this product.

The Advisors are pretty strong as well, including the CEO of Polymath and an advisor to Factom.

Token
3/5 Decent

The OLT token is used for transaction fees on the network.

35% of tokens will be sold, with a hard cap of $15 million. There is a vesting period of 24 months for the team and 12 months for the advisors. This is definitely not a scam.

These token metrics are ok, though not stellar. In particular we would have liked to see a fund distribution chart.

Verdict:

Pluses:

Great idea and solution for key blockchain problems
Low hard cap
Positive sentiment in the crypto world despite it’s a new project
Minuses:

The project is still at a very early development stage. First version of OneLedger comes out in 2019
Lack of MVP(coming soon) and just 3 developers given how ambitious the project is
Lack of a onepager/lightpaper. The project is very technical and hard to digest at first
Overall, I am very excited about OneLedger. I see a well-thought and anticipated solution for key blockchain problems. The main disadvantages to me are the lack of MVP and the low number of devs involved. However I still believe the low cap, great idea and good team will bring a lot of attention to this project in the near future. I will be closely following the project with the idea to make a medium to big-sized investment.

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