Meet ONAM; The Best Compliant Cryptocurrency Exchange for Fast, Secure, Convenient and Reliable Transactions and Trading

ayobaba (44)in #exchange • 6 years ago (edited)

1.0 Introduction

2.0 What is ONAM?

3.0 Existing Problems of Crypto Exchange

4.0 How ONAM solves these problems

5.0 Unique Features of ONAM

6.0 ONAM exchange fees

7.0 ONAM User Interface

8.0 ONAM's Token and ICO

9.0 ONAM's Regulatory Compliance

10.0 ONAM's Technological basis

11.0 Use Case

12.0 Conclussion

1.0 INTRODUCTION

The world of cryptocurrency has now expanded to the extent that the crypto market is jamparked with traders. In order to satisfy these traders, many crypto exchange has been created which serve as online platform whereby a digital asset can be exchanged for another or fiat currency. The increase in crypto market led to the mass adoption of these crypto exchanges but unfortunately, the users/traders are increasing everyday, meanwhile, there is stagnancy in the basic facilities, services and installations needed for the functioning and proper running of these exchanges in order to meet the needs of individual users and organisations. This imbalance between users and exchanges is causing a lot of issues in the crypto market (Problem of security, market liquidity, scalability etc.). In order to address these afformentioned problems, ONAM has created a new platform that will remidiate all the common issues affecting the crypto market even in the years to come.

2.0 WHAT IS ONAM?

ONAM is a platform created for cryptocurrency exchange. ONAM is unique and different from other exchanges because it surely comply with the rules and regulations proposed by SEC and other regulating bodies both now and in the future. In addition to this, ONAM's platform provides maximum security, scalability, full customer support and other additional features for both individuals and organisations making use of the exchange.

3.0 EXISTING PROBLEMS OF CRYPTO EXCHANGES

The increase in the number of people (traders) making use of existing crypto exchanges wi stagnancy and rigidity in crypto exchanges has caused a lot of problem in the crypto market.

3.1 Problem of Security
Security of digital asset is one of the concerns of traders (both individual and organisation). Over the years, crypto exchanges have experienced a lot of security breaches and hacking which made them suffer great losses. In the coming years, the number of crypto exchange users (traders) will surely increase which will in turn increase the number of security attacks, hacking, theft and fraud.

3.2 Problem of Scalability
Many cryptocurrency exchanges have reached their optimum capacity, meanwhile, traders and investors are increasing everyday. Due to the large amount of traders and investors in the crypto market, many exchanges are no more able to handle large amount of transaction at the same time. Registeration of new users is now taking a very long time before getting successful. Matching machines of exchanges get overloaded easily during peak trading times.

3.3 Lack of Special Customer Support
Customer care and support is one of the important factors of any business organisation. Based on recent customer (users/traders) survey of existing exchanges, it was discovered that there is no exceptional treatment, care or support for customers. Custumers are waiting for weeks before receiving response to crucial issues that are suppose to be attended to on time(issues like loss of fund and account lockout).

3.4 Problem of Market liquidity
In order for any crypto exchange to be successful, then there must be good market liquidity. Due to poor order books and large gaps between ask and bids, there has been constant price fluctuation within the crypto market. These makes manipulation very easy to the extent that many of the existing exchanges are taking advantage of the fluctuation and using illegal method to profit.

3.5 Problem of Regulatory Compliance
In the already unstable market, gainning the trust of new users/traders (both individual and institutional investors) has became verry difficult. This results from their former experience which caused bad impression and wrong perception of the crypto industry and exchanges. Due to lack of regulation, during their ICO (Initial Coin Offering), most of the existing exchanges promise new users with multifold of their investment. At the end of the day, customers are dissapointed because exchanges fail to keep their promises.

3.7 Problem of Market Manipulation
In the existing crypto exchanges, market manipulation is now happening on a verry large scale. Due to the increase in the number of new investors, manipulators are taking advantage of new customers through illegal actions like, spoofing, wash - trading, momentum ignition, pump and dump etc. These illicit actions will continue in the coming years if exchanges refuse to comply to regulations.

4.0 HOW ONAM SOLVES THESE PROBLEMS

4.1 ONAM provides maximum security
ONAM is taking maximum security as their first priority in the design of their exchange platform. In addition to the existing industry standard DDoS mitigation, anti-phishing solutions and 2FA solutions, ONAM will use a self developed "Advanced Threat Prevention, Intrusion Detection, and Trade Surveillance systems" which will be controlled by machine learning and encrypted database so as to provide the best security on the platform.

4.2 ONAM Solves the problem of Scalability
In addition to the maximum security provided on ONAM's Platform, another factor on which ONAM's platform was built is scalability. In their mind, ONAM's developers built their Platform with the saying "If the scaling is not fast, then it is just too slow". ONAM solves the problem of lower transaction
and higher latency within a second which is common to existing exchanges. The good news is that, ONAM's platform will be able to handle successfully 10 million transactions within a second with latency as low as 40nanoseconds.

4.3 ONAM solves the problem of Market Manipulation
All questionable trading activity (activities like ; pass through trades, unusually large trade, wash trades, spoofing, front running, layering, hammering, momentum ignition etc.) both before and after trade will be strictly monitored using ONAM's Real-Time Market Surveillance and Compliance system surveys which is powered by the learning machine. This gives ONAM the chance to eradicate market manipulation by submitting reports of irregular trading activities to the regulators in compliance with both current and future regulations.

4.4 ONAM Provides effective customer care and support
One of the objectives of ONAM is to provide full care, support and attention to users/customers making use of the exchange. In order to achieve this, ONAM will be operating a Live chat in multiple language which will be working 24/7/360 i.e everytime. Common issues will be attended to exactly 15minutes after which support ticket is submitted. In addition to this, to make sure no stone is left unturned, ONAM wilk provide phone support within the first six months of full launch.

4.5 ONAM provides Rich Market Liquidity
Since the cornerstone of every successful exchange is liquidity, ONAM provides the richest market liquidity by alluring miners, volume traders and large market traders. ONAM also solves the common issues of market manipulation caused by poor liquidity by making use of order books from multiple exchanges.

4.6 ONAM's Regulatory Compliance
ONAM believes that the only way to attract and keep new investors is to make sure they are fully trusted by these investors. To build this trust, ONAM totally complies with all necessary regulations so as to ensure transparency. In order for ONAM to be operating without the fear of being shut down and also to handle any legal issue that might surface in the company, ONAM has employed SEC, one of the top legal firm in the united states.

5.0 UNIQUE FEATURES OF ONAM

The below listed features are the the things that made ONAM so unique and different from other common exchanges.

1 Advanced Order Types
These options assist the customers in being more successful in their day-to-day trading

2 Margin Trading
Users can leverage higher buying power in exchange for a small interest fee

3 Margin Lending
Users earn interest by lending, and can pick their own rate and duration terms

4 Composite Index Fund
Users can diversify their portfolio

5 Paper Trading
Trading simulations for novice users

6 Modular User Interface
User can customize his/her trading page

7 Trade Assistant with Trade Alerts and Signals Powered by machine learning
Limits risk by assessing current position, account balance, and user’s personal tolerance

8 Auto-Trading
Backtesting helps customers use trading bots based on their personal strategies
Users can employee premade strategies as well

9 Social Media and Sentiment Analysis Tool
Powered by machine learning
Market condition forecasting

10 Market Scanning
Powered by machine learning
Sets criteria for users to identify the kind of volatility they are seeking

11 Advanced Charting
Helps users optimize historical analysis of commodity, currency, security, etc.

12 Trading Expert Coaching
Novice users can be taught best practices by a community of experts on the platform

13 News and Announcement Feed/
Major cryptocurrency-related news and updates

14 Push Notifications
All activities will be pushed to the user

15 OTC Trading
Smart contract escrow services to create smooth swaps of assets and funds

16 Multi-Language User Interface
Prefered language as an option

17 Multi-Language 24/7 LIVE Chat Support
Users always have access to help

18 FIX Server for Institutional Traders
19 Advanced and Custom APIs
20 Affiliate Program

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6.0 ONAM's EXCHANGE FEES

7.0 ONAM's USER INTERFACE

8.0 ONAM's TOKEN AND ICO

9.0 ONAM 's REGULATORY COMPLIANCE

ONAM ensure that they comply with all necessary regulations in order to promote the legitimacy of the platform by working with regulating bodies in the united states and other juridictions.

9.1 To keep the promise of complying with all regulations, ONAM's ICO will be in full accordance with crowdsale standards for SEC, Reg S Category 1 and Reg D Exemptions which is facilitated by SEC in the United state. In addition to this, there will be access to accreditation status. Towards Multiple Global AML Watchlist, potential investors will also be checked.

9.2 In order to avoid freezing of trade and/or total shutdown of network, ONAM will fully abide by all the rules, regulations and laws which are laid down by AML (Anti-Money Laundering). ONAM has employed a top legal firm to obtain all the document required for necessary registerations and licenses needed by the SEC to operate an exchange successfully. Some of these documents are [Register as Money Transmitter in all 50 U.S states, Obtain a Broker/Dealer License, Register as an Alternative Trading System, Become a member of self Regulatory Organisation.]

9.3 KYC/AML (Anti-Money Laundering)

9.4 ONAM do not allow the involvement of restricted person, they have all the rights and power to cancel or refuse any ONAM's token purchase request if insufficient, inaccurate or misleading information is provided by the purchaser within the KYC procedure. In order to fast track the KYC/AML requirement during ICO, third party KYC/AML will be adopted. In addition to these, the ONAM crowsale and Exchange commission is limited to international participant and US Accredited Investors Only.

9.5 Potential Risks involved
In acquiring ONAM's token, purchasers should take note of potential risks as well as cost and benefits. Some of the possible risks are (non refundable token, Risk of compliance and regulatory, Lack of interest in project etc.)

10.0 ONAM's TECHNOLOGICAL BASIS

ONAM's Enterprise Grade Security is powered by Machine learning and it is made up of self developed Advanced threat prevention and intrusion detection tools. ONAM system will never store user's password, all data will be encrypted before entering ONAM's Database.

ONAM's Anti-Market Manipulation (AMM) is another system which is also powered by machine learning. This system is a real-time market surveillance, supervision, and compliance system which is always intact. The main use of this system is to monitor market activities and also identify illegal and irregular trading activities which might lead to market manipulation.

ONAM's Institutional grade Anti-Money laundering (AML) system which is also powered by Machine learning tecnology will help to scrutinize users data against various international watchlist and Database. This will help identify any Money Laundering and privide solution before it gets too late.

There will be quarterly third party audits of ONAM's security protocols, architecture, matching engines, codes and order books so as to ensure full regulatory compliance, maximum security standards and full transparency to users.

For custodian services to be provided to big institutional investors, ONAM has allied with the market leader in institutional grade cryptocurrency investment service provider (BitGo). Institutional-grade policy controls, 100% cold storage and multi-signature in bank grade vaults for more than 75 cryptocurrency will all be included in the custodian services.

In order for ONAM's platform to be secured, all employees will be taken through strict background check and pre training in the aspect of regulatory compliance.

11.0 ONAM's USE CASE

A brother of mine wanted to start investing in digital asset using cryptocurrency, he made enquiry concerning the existing crypto exchanges but he found out that many of these exchanges have no plan for safe transaction. Moreover, they can not be hold responsible for any loss or inproper customer relation just because they do not comply with any regulatory bodies. My brother got discouraged but fortunately for him when he was surfing the internet, he got to know about ONAM. Now he is fully into crypto world with the assurance that ONAM will povide safe and quick exchange medium.

12.0 CONLUSSION

ONAM has proved to be verry different and unique from all other cryptocurrency exchanges. Taking security as first priority, ONAM operates a safe and trusted platform for traders. With their high commitment in complying to rules, laws and regulations laid down by regulating bodies, ONAM will gain the trust of new users and potential investors. In addition to this, the unique features of ONAM will surely lift them above all other existing exchanges now and in the future. Their high transaction speed and low latency must not be left unmentioned. Now, with ONAM, you can handle and deal crypto asset safely, easily, confiniently and quickly.