INTRODUCTION
The coming of cryptocurrency was heralded as a new world market economy for all potential investors in the digital currency marketplace. This was made even more evident by the influx of revenue into the blockchain economy which tallied from billions of dollars in late 2017 to reach the one trillion dollars mark by 2018.
Unfortunately even the emerging growth of the decentralized network came as a growth to the word's economies. Long gone were the skepticisms which were replaced by a new form of enthusiasm about the future of a completely digital economy.
Cryptocurrency Usability Challenges
It is therefore appalling to think that even with all the huge statistics in terms of revenues generated from the blockchain network, it is yet to reach the heights it's supposed to reach in terms to global recognition even in local regions. For instance, majority of the individuals that utilizes cryptocurrency in my country Nigeria are mostly youths between the ages of 40 years and below. The older generation find it too hard and archaic to understand the working principles of a decentralized network economy, despite the fact that some of them are seasoned successful entrepreneurs.
This can all be termed down to the actions of distributed trading services from the Decentralized Exchanges (DEX) whose many but unorganized services have left a bad taste in the mouth of willing investors in the DEX trading ecosystem. Some of their challenges are includes but are not limited to :
Inefficient Security
The downside of DEX's error on security have seen investors lose millions in digital assets to fraudsters and hackers in a trend that has crippled exchange operations down the years. A survey statistics conducted lately has shown that several crypto users employs the use of more than one DEX in the search for the ultimate one that will give them the security that they crave.
Lack of Real Time Transactions
Scalability has always been an issue for modern day blockchain users in a way that the majority of the DEX have reached a capacity where they cannot entertain more users of cryptocurrency on their platforms. The numbers are about to get worst as more users are willing to invest more as 2018 draws to an end. The implication of this unbalanced package is that DEX investors will continue to experience slow down trading process in an already overcrowded ecosystem leading to an ineffective trading experience.
Lack of the Human Touch Factor
Most DEX have been found guilty of not reaching out to their users as it should be when undergoing trading operations. Most of these users find to their dismay that it takes some exchanges days or even weeks to respond to their complaints in a trading economy that requires instant action. This is not a characteristic of a good and thorough trading platform.
Manipulation Caused by Lack of Regulatory Compliance
The wide aggregation of cryptocurrency have made it quite impossible for most DEXs to comply with trading regulations. Most of them felt like that due to the fact that their different networks solves varying issues, that they do not owe it to anyone to comply with the rules and regulations of trading as listed out by the Sec and other compliance agencies. This apparent lack of compliance have led to cases of unhealthy manipulation by some of the exchanges in such a way that it's hard to get correct trading figures that have not been cooked to deceive investors. This dishonest attempt by some DEX to beat the system through illegal means will eventually lead to distrust from investors.
The issues above are part of the problem that cryptocurrency is experiencing in terms of wider usability on a global scale and it's evident that a much better secure and efficient exchange network that is user interest oriented is needed to bring a better trading ecosystem to an already volatile crypto economy.
The ONAM platform is a new innovative platform that will alleviate the trading limitations experienced by crypto investors. Let's take a look at what ONAM has to offer.
THE ONAM EXCHANGE SOLUTION
The ONAM platform is a new platform that is henaralky compliant with trading operations of the SEC and other regulatory bodies giving it a secure, trusted, scalable and efficient exchange platform but for crypto novice and experts alike. The vision of the ONAM project is to build a trading platform that is user oriented and widely trusted by doing things by the book.
An instance to this method is the trust placed by central banking system by individuals to safeguard their fiat currencies and also place full trust in them. This relationship was established because users bear in mind that banks all follow the rules and guidelines as stipulated by the Central Bank of their region as deviations from it will bear grave consequences for them. The ONAM operations will bear the same outlook but much better as it's a decentralized platform that promotes financial independence. They plan to introduce guidelines and instructional packages for traders on their platform to ensure that they get a fair and transparent trading experience that will maximize profit and litigate loss.
The ONAM Components
The innovative package of the ONAMDEX comes with lots of mouthwatering services for their users with high concentration on security and efficiency of operations.
High Frequency Matching Engine
Top of their good chain is a system to ensure that users can be able trade properly in real time using their large scale matching engine that will skyrocket their scalability through the roof and ensure that their transactions are verified at the rate of 10 million transactions per second with an insignificant amount of latency that will rival and better any payment system in the world.
Advanced Order types.
With the right tools to instruct investors when to trade higher or lower through their technical options like trailing stops, limit order, maximum profit and minimum loss options, the ONAM exchanges can be the best guidelines for a profitable trading that the crypto world have never seen before. The options offered will help them to gain extensive profit and at the same time, limit the kind of loss they might have when crypto prices experiences spiral volatility.
Margin Trading and Lending
Margin Trading is a feature that has been absent in most Decentralized Exchanges. The option allows users to get more stakes on trading revenues by borrowing from an external body to increase their stakes. The ONAM platform offers the users the chance to get such funds at a lower percentage than is obtained on other networks. The process is a risky one and the guidance of the ONAM team will be an added advantage to investors.
The Margin lending option on the other hand wo allow the users to the ONAM platform to gain interests when offering margin trading operations to margin traders while in return making profit in interest from the proceeds of the transaction. The margin lending venture puts the borrower and the lender at a high loss risk but through the ONAM options, this can be litigated by the monitoring of the market flow.
Composite Index Fund
Aggregation has always been a big problem for DEX when it comes to crypto trading. The fact that so many coins are developed everyday that are rarely interoperable means that users have to undertake the heavy task of employing so many DEX to reach a required cryptocurrency that they desire.
To bridge this gap, the ONAM network is employing the Composite index fund mechanism to give users a diversified view into other secure available cryptos without having to break banks.
Trading Training Method
The ONAMplatform also employs the means of paper trading where new investors to the exchange economy can learn the features of a good trading experience and test features that will help them horn their skills in the future.
A Relatable User Interface
This feature allows the users of the platform to be able to model their trading page according to their preferences using their unique Modular UI mechanism. The design is done in such a way to improve trading experience that will break ground from existing ones from other DEX.
ONAM Trade Assistant
This is the feature that the platform uses to limit the significant risks experienced by investors while undertaking trading operations. The loss stop limit are activated using Trade Alerts that informs the investors or any impending prize crash, therefore litigating losses and ensuring maximum profit. The mechanism monitors and studied the market through a unique Machine learning feature for future trading reference.
Auto Trading
This allows crypto investors to set up their own automated trading process through the careful set up of their trade steps into the trading option bars. They can also get their auto trade values from experts who knows the process very well and input into theirs.
Social media and Market analysis
This is an innovative feature of the
ONAM platform powered by machine learning that enables their users to get a full detailed analysis about the occurrences and economic situations in the exchange market allowing users to get the best trading options for a good trading experience through profit oriented decisions.
Market Scanning Option
Due to the volatility of crypto prices which can either rise in value or crash down at any point in time users are at a dilemma at which particular coin will favour their trading options at some point. The ONAM way involves Market scanning technology which is also a part of their machine learning software that scans the entire crypto market at any period in the exchange market for a crypto that is most suitable for trade if one is to make maximum profit.
Advanced Charting
This is feature of the platform that provides their users with the best charting information about a particular crypto they are going to trade on. This Emin oates the need to involve third party sources to chart their process for them.
On hands Expert
The ONAM platform being user oriented always have the best interest of their user's at hand. This feature of the platform employs ready made experts with enough acumen in the world of decentralized exchange process to guide their users through their exchange operations. The experts are a good helping hand and guidance to novices who are just being introduced to the DEX economy. This is a feature that is lacking in so many DEX.
News and Announcement with Push Notification for Updates
This features allows the ONAM network to update their users on the latest information concerning digital cryptocurrencies on trade. With this way, users do not need to spend extra time and cash sourcing for these information through brokers. The process is structured in a timely manner that will allow to get them when it's most relevant.
The Push notifications feature allow users to get an immediate update on any incoming news about the trading market as they enter the network. This ensures that they are all duly notified on any occurrence withing the crypto world.
A multi Language User Interface
To promote global usability of the ONAM network, the platform is equipped with a multi language option that will allow the users to choose the specific language that suits their region or locale.
24 Hours Customer Care Support
Unlike what's obtainable on so many decentralized exchanges, the ONAM motto is centered around the satisfaction and profit of their users. The network is engaging their users with a 24 hours customer live support that will guide them in times of challenges and ensure that an efficient solution reaches them as soon as possible. This is what gives ONAM the human touch that other networks lacks.
What Makes ONAM Unique Among all other DEX
State of the Art Security
The security of any platform is a deciding feature on whether it will be sustainable or not. This security need is what has plagued most DEX from the time of its inception. The ONAM security setup is one that studies the threats that are usually experienced through exchange processes. With their Advanced threat prevention, Intrusion detection and Trade surveillance systems, the ONAM security identifies any irregularities in trading operations and flags them down as a possible threat. Just as the saying that goes "Better safe than sorry", their security encryption is suited like that with hope that security threats are detected ahead of time before they even try to occur. This gives their users confidence that their digital assets are secured all the time. Apart from the secure layer of 2FA security process that is characterized by most platforms, the ONAM platform also engages the services of KYC and AML services to get to know their users personally and ensure that they are also in synch with their compliance regulations.
High Frequency Scalability
Scalability has always been a prevalent blockchain problem that goes as far as the moment cryptocurrency started entertaining a large user base. In order to ensure that their trading operations are done in real time, the ONAM matching engine provides a high frequency scalability of 10 million transactions per second in a manner that has never been seen before in exchange operations. Their Goland technology mechanism powered by Google is at the head of this fluid process.
With Compliance Manipulation is Eliminated
The ONAM platform starts all its operations by complying with all SEC regulations for their trading tokens which will attract external and professional auditors to advice them on how best to issue their tokens the legal way.
This compliance process gives them a trusted reputation among the Decentralized exchange economy and thus, eliminates all forms of attempt by their investors to manipulate trading protocol. This is made possible through the Machine learning powered Real Time market Surveillance, Supervision and Compliance Systems which monitors every trade activity for unusual movements in trade activity. This will be in line with ensuring that ONAM becomes a network with good reputation for crypto investors.
Customer Support
Being able to reach out to their users to hear their complaints will always give any platform an edge over its peers. This is what makes exchange operations the ONAM way, the most with good human touch factor.
Use Cases of ONAM
Case 1
Stanley has been an ardent liver of cryptocurrency and has always wanted to engage in its trading activity through decentralized exchanges. Unfortunately, Stanley's two previous attempts at trading with his Bitcoin have always attracted huge losses from lack of good customer support from the 2 Decentralized exchanges that he has traded with. Stanley was distraught and was about quitting when he met a friend who gave him a testimony of how he made huge profits from trading with a trading platform known as ONAM. With his friend's reference, Stanley started trading cryptos through ONAM and within a short time period, he was surprised at the positive changes in his trading fortunes which was possible only through ONAM's wonderful expert training option. Stanley remains grateful that he signed up with ONAM.
Case2
HedgeFund International are a digital currency financial firm who undergoes all sorts of financial operations for their customers ranging from exchange and storage operations. The HedgeFund group has heard about cryptocurrency but are dissuaded from doing so as they are still new to the entire decentralized economy. A new account manager with the from introduced them to ONAM and they kicked off DEX trading through their guidiance. Today, HedgeFund is one of the top dogs in the world of decentralized trading with lots of customers across the globe through their healthy patnership with ONAM.
The ONAM Token
The ONAM Token is the access tool for users to get hold of the full characteristics of the platform. Users will get added features focused on reduced trading fees as well other extra technical tools for a good trading experience. The ONAM token is only distributed amongst users trading with their Exchange and cannot be transferred to other exchanges or made trading property of any individual or companies not affiliated to them.
Token Allocation
The allocation of the ONAM tokens will see about 195,000,000 in stock for their crowdsale which is about 65% of the entire stock. The remaining 35% will be distributed in the following order ;
20% goes to the team. 50% of it can only be withdrawn after six months of its inception while the remaining 50%csn be withdrawn after 1 year to prove their willingness to sustain and develop the network further.
10% is left in the reserve for emergency situations to ensure market liquidity and to pay for any cases of legal fees that might arise in their consolidation process.
The remaining 5% is for the bounty hunters, the advisors and partners of the platform.
Meet The Team
Advisors
ONAM Roadmap
CONCLUSION
The world of cryptocurrency may have taken hold, but it was not quite prepared for the boom in the number of users that have adopted to use them in recent times. The huge gap between them and their final destination of efficient and secure utilization remains to be bridged in a growing digitalized economy. The ONAM platform is bringing a new trend in how cryptocurrency is being exchanged and traded safely and fairly while obeying the necessary trading regulations which will eventually lead to its usability on a deserved global scale. I don't know about you, but I'm definitely trading with a platform that cares about my financial welfare any day, anytime and ONAM ticks all the dots. Thanks for reading.
For more Information on the platform, please visit
ONAM Website
ONAM Whitepaper
ONAM Telegram
ONAM Reddit
ONAM Medium
ONAM LinkedIn
ONAM Instagram
ONAM Twitter
ONAM Bitcointalk
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Dear @davonicera
I didnt see you posting anything in very long time. Are you okey there? Hope you didn't give up on Steemit completely?
Hope to see you here again one day.
Yours,
Piotr
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