A first look at their site will inform us that they are promoting compliance, security and usability. Let’s explore this a bit further. ONAM define themselves as a high performance, regulatory compliant with current and future regulations set forth by SEC and other regulatory bodies, trading platform with good risk management, trade surveillance, advanced tools and state of the art security system powered by machine learning (using proprietary Advanced Threat Prevention, Intrusion Detection and Trade Surveillance). Quite a mouthful, but it is all supported by an extended Whitelist. Shall we look at this then, and check the main points.
First, they point out the challenges met by any actual trading platform. We are talking here about unsafe exchanges (just check the news), security breaches, scalability, market manipulation, long waiting time for the customer support and poor market liquidity. Their solutions to every challenge are explained one by one. In terms of security, they will use proprietary Advanced Threat Prevention, Intrusion Detection and Trade Surveillance powered by Machine Learning, added to the standard DDOS Mitigation, Anti-Phishing and 2FA solutions. In term of scalability, they estimate a whooping 10+ millions transactions per second, with less than 40 nanoseconds latency (compare this with VISA actual speed -24.000 transactions per second). Market manipulation will be prevented monitoring for suspicious trading activity using real-time surveillance, supervision and compliance system (potentially generating Suspicious Activity Reports when it is the case). A dedicated 24/7/365 Customer Service will be created, aiming to answer within 15 minutes after a support ticket was submitted. The poor market liquidity will be solved being committed to attract large market makers, volume traders and miners. All happening this while being fully compliant with regulations.
Another brownie point is gained looking at their partnership with BIT GO, a market leader in institutional grade cryptocurrency investment services since 2013.
Let’s take a look at the platform features.
We already mentioned the speed (10 millions TRX/sec) and the latency (under 40 nanoseconds), and we can see all kind of order types (trailing stops, iceberg orders, fill or kill, good till cancelled, one cancels another and the regular limit order, market order or stop-limit). They promise a regulatory compliant Margin Trading, for a small fee on borrowed funds in exchange for a larger buying power. They plan to support this using Margin Lending, where you can earn interest of the funds provided for margin traders. The clients will get access to a monthly re-balanced ONAM composite fund, a smart and secure way to get diversified exposure to crypto assets. A Paper Training feature will be offered to train and improve your trading skills, and the platform will have a modular UI to customize your trading page according to your needs.
A Machine Learning powered Trade Assistant to provide trade alerts and signal is mentioned, and you can create or use ready made strategies through auto-trading bots. A social media and market sentiment analysis tool is also provided for a ultra-fast sentiment analysis of the market. Another interesting feature is the Institutional Grade Market Scanning Tool to find coins and tokens based on your specific criteria (this will be available only for ONAM token holders). We will also have advanced charting (technical analysis tool), trading experts to educate novice and intermediate traders and a news and announcement feed for the latest news, with or without push notifications.
A special mention for OTC Trading — facilitating buying and selling of assets for institutional investors and large traders, multilingual UI ( you can choose your preferred language, multilingual 24/7 live chat support, FIX server for institutional traders, advanced and custom API and an affiliate program.
Another important part that we need to talk about is the exchange fees. This is what can make an exchange attractive or not, and the announced exchange fees are 0.1% maker fee, 0.05% taker fee, free deposits and margin trading, withdrawal and listing fee are yet to be announced.
In the next paragraph we will discuss about token details and ICO. The token is called ONAM and it is ERC-20. It will be used for trade fees saving, to unlock extra tools and features and every quarter 25% of the company profits will be used to buy-back and destroy tokens up to 150 millions of them(50%). In the following table you have the important informations related to the token.
The token allocation is the following:
-65% Crowd sale;
-20% For the team;
-10% As an emergency reserve
-5% Bounty, advisers and strategic partners.
The token sale funds are allocated for Development (50%), Marketing (25%), Day to day operations (15%) and Legal expenses (10%).
The ICO most important dates are presented in the next table.
The main points of interest on the Road-map are:
*Quarter 4 of 2018
-Private sale, pre-sale and public crowd sale;
-Platform beta release and stress testing;
*Quarter 1 of 2019
-Trading pairs announcement;
-Full platform release;
-IOS and Android app;
-Trading pairs expansion;
*Quarter 2 of 2019
-ONAM token buy-back.
The Road-map is promising and doable, and they are showing great potential, if they can follow it and deliver what they promised, while keeping up with the similar market.
(Disclaimer: This article was created in exchange for a potential token reward through BountyOx. BountyOx username: Heruvim78)