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Not sure if it has been mentioned here but Damian, an admin in the official ONAM Telegram, just confirmed that the MVP will be released on Sunday!
Thats absolutely true. And that is just few hours from now. I am looking forward for it. I heard that they are testing many coins at this moment. That is big news. So on Sunday we will be looking at a working version fo the product right? will we be able to trade? Today is Sunday. MVP already released? I am waiting for the official news. Hopefully it is released today and I would like to part of testing.. Message from our CEO. "We are officially in the final stages of security audit of the MVP/BETA of ONAM Exchange. If everything goes well we should be live in just a few hours." "MVP was originally meant to be released at the end of November and only showcase UI and Matching engine, but we decided to step it up and technically will be releasing the Beta version of the Crypto to Crypto trading of the platform." "I am humbled by the support of our community and investors. Over $1.25M raised in the last 45 days and countless partnerships secured. Thank you." Keep an eye on onam.io Big things are coming. |
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Do I need to go through KYC for participation?
Hey there. Yes, we require all crowdsale participants to go through KYC. Don’t worry though, we have made the process very simple. If you have any questions about KYC join us on telegram and we will walk you through it. |
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Is there any bounty programs going on for Onam? And do we need KYC for bounty tokens as well?
a bounty would be great. Actually, I did not want to participate in any bounty campaigns anymore, but I'd like to have tokens from Onam Exchange :-) So here I would attend Of course bounty would be a great promotion and I would take part too. But for the time being, it seems to me the team doesn’t really understand very well if they need such an option for promotion or not. Although it seems to me without a bounty today, only a few can do. And the point is not only in attracting investments but in increasing the community after the product which is much more important. Hey there, we actually already have a running bounty. Please follow this link https://onam.io/bounty |
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I just checked the Whitepaper and i saw the costs for trading fees (0.05%) this is very low costs your exchange need a good marketing plan..
Up till now I haven't gotten reply on the class of sec regulations they filled and gotten approved I will like to know if there will be a possible review of trading fee in the future oops, sorry I guess I missed a question or two but nevertheless. We have filed for Reg D and Reg S exemptions for our tokensale. They are called "Safe Harbor" exemptions. We have to notify the SEC that we will be conducting an offering that falls under SEC regulation but are exempt from registering our offering with them. Our legal team are also working on obtaining broker-dealer license, money transmitter license and working on registering ONAM trading platform as ATS (Alternative Trading System). We are hoping to share some good news with you guys by end of November regarding fiat as well.  We are working hard on exceeding the expectations of our investors and are far ahead of schedule. |
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Onam private sale ending in approx two days, but I don't know if they reached softcap or not. I need to check what is the softcap, but it will be good if team confirm the same.
it didn't reach softcap yet but its halfway through softcap and may be it'll hit softcap with remaining private sale! because a exchange with this many feature will do a lot of good stuff in future as they don't get much affected in market conditions! Did you get your information about its soft cap from the official team? Because I can't find it on the website. Besides, it's only private sale, talking about soft cap might be a bit too early. There is no need to hurry-up and end up making false statements. If they reach softcap, team would have already informed in the social channels. Just wait for the confirmation from the team. Agree. wait for Onam team to make official announcement about softcap or total number of tokens sold. Onam team is transparent and will provide proper info. Hey there, we have raised around 5000 ETH and have sold 13,750,000 Million tokens (plus, little more pending investments, waiting for their paperwork to finalize) since we launched 14 days ago. We are expecting to sell out of all Private Sale allocated coins by end of business day on Monday as long as all paperwork from private investors go through on time (which they will). We will not hit softcap during our Private sale since we allocated fixed amount of tokens for each round of our Crowdsale. If we sell out of Private Sale allocated Tokens early, then our system starts the Pre-Sale round of our Crowdsale immediately. We are at about 40% of our softcap goal. |
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There are now many new exchanges and when ico live they always offer something promising rather than the most popular exchanges today. But the facts speak differently and after the exchange is launched, everything is not as expected, the trading volume is low and far from comparison with other exchanges.
What will you do later, so you can compete with popular exchanges such as the comparison you show on the first page?
To be honest, this is a very nice question and answer should be known to all ONAM fans here. I hope team will see this and answer here. Thats why I am also quoting it here. We are committed to attracting large market-makers, volume traders, and miners. By incentivizing them and utilizing order books from multiple exchanges, we will solve the high slippage and market manipulation issues brought on by poor liquidity other exchanges are facing and offer truly rich and transparent order books. I think our main differentiator is the fact that we are building a platform that will include almost all trading options, combined with low trading fees, region specific Fiat trading, Anti market manipulation tools, enterprise grade security and full compliance we will be a force not to be reckoned with. Our aim is to become one of the top 10 exchanges by 2020. I think our MVP will speak volumes of our commitment to our project. |
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You claim to be able to achieve 10+ million TPS which is very fast if you ask me, my only question about this is, have this been tested? How did you achieve that figure?
Yes, we have done extensive testing on this. We will be publishing the benchmarks along with our Alpha/MVP release, in just a few weeks. We were able to achieve these speeds utilizing GoLang programming language designed by Google which was specifically created for computationally intense server applications and auto scaling by AWS infrastructure, along with whole host of other frameworks like aurora, redshift, docker, etc. Software architecture of the engine brings “language simplicity”, better tooling, faster compile times, concurrency model and garbage collections system, which automatically frees up memory within the software. Nice. I just wanted to check the same. many claiming that their infrastructure support millions of transaction and all. But hardly anyone tested it in reality. We will be conducting Quarterly Mandatory 3rd Party Audits of our Matching engine, security, Order book to stay compliant and most importantly... offer FULL transparency to our userbase. |
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from your Whitepaper, I see you're gonna use lots of Automated Features and Bots to keep it ahead of others!
but do you think those coding can be secure enough to keep your exchange safe and secure?
we all know how Hackers finds Vulnerability in automated process!
Nice. Very important question. Most of the hack or breach that occurred in exchanges where as a result from exploits or vulnerabilities in the trading bots. How will this be covered. This is most important question. I hope team have plans for the same. they need to use lot of security features to keep exchange safe On top of standard DDoS mitigation, anti-phishing, 2FA solutions, and encrypted databases we have developed our own proprietary Advanced Threat Prevention, Intrusion Detection, and Trade Surveillance systems powered by machine learning. With the help of machine learning technologies, we will be able to detect any irregular activities and our Advanced Threat Prevention system will flag any potential problems in real-time, preventing breaches before it is too late. This makes ONAM the most secure trading platform in the foreseeable future. Utilizing our relationship with BitGo we will be storing 99% of funds in bank-grade Class III vaults to ensure the safety of the funds ONAM customers have entrusted us with. |
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You claim to be able to achieve 10+ million TPS which is very fast if you ask me, my only question about this is, have this been tested? How did you achieve that figure?
Yes, we have done extensive testing on this. We will be publishing the benchmarks along with our Alpha/MVP release, in just a few weeks. We were able to achieve these speeds utilizing GoLang programming language designed by Google which was specifically created for computationally intense server applications and auto scaling by AWS infrastructure, along with whole host of other frameworks like aurora, redshift, docker, etc. Software architecture of the engine brings “language simplicity”, better tooling, faster compile times, concurrency model and garbage collections system, which automatically frees up memory within the software. |
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from your Whitepaper, I see you're gonna use lots of Automated Features and Bots to keep it ahead of others!
but do you think those coding can be secure enough to keep your exchange safe and secure?
we all know how Hackers finds Vulnerability in automated process!
Nice. Very important question. Most of the hack or breach that occurred in exchanges where as a result from exploits or vulnerabilities in the trading bots. How will this be covered. Since we offer bot/automated trading within our platform, you don't need to connect APIs of various bots. It would eliminate the vulnerability other exchanges exposed to. Also, with the help of machine learning technologies, we will be able to detect any irregular activities and our Advanced Threat Prevention system will flag any potential problems in real-time, preventing breaches before it is too late. This makes ONAM the most secure trading platform in the foreseeable future. What does "irregular actions" mean in a trading environment where the whole principle of trading is to perform actions that may seem illogical but result in maximum profit?) If on your trading platform all bots will do the same thing, then no one will make a profit, it is obvious. You cannot meet both of these conditions at the same time. Or delays in confirming the action will minimize the benefits of automation. You should focus your efforts on ensuring the security of cryptocurrency or money deposits/withdrawals, in this direction there is hope to become better than others. That's actually a valid point. ONAM Trade Assistant compiles unique user data including balance, portfolio and current open positions to create individualized comparisons to market data and signaling data. This unique information limits and even prevents the assistant from competing with other traders on our exchange who are simultaneously running the ONAM Trade Assistant |
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so many project are being released this days with similar features with nothing new in them!
so i would like to know how you're different from others and how you're gonna attract traders?
do you plan on bringing fiat in your exchange?
Yes, we are working with Regulatory bodies in multiple jurisdictions around the world. Not only will we have Fiat Trading, but we will have fiat trading in multiple major currencies. Euro, USD, AUD, Dirham, etc. |
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from your Whitepaper, I see you're gonna use lots of Automated Features and Bots to keep it ahead of others!
but do you think those coding can be secure enough to keep your exchange safe and secure?
we all know how Hackers finds Vulnerability in automated process!
Nice. Very important question. Most of the hack or breach that occurred in exchanges where as a result from exploits or vulnerabilities in the trading bots. How will this be covered. Since we offer bot/automated trading within our platform, you don't need to connect APIs of various bots. It would eliminate the vulnerability other exchanges exposed to. Also, with the help of machine learning technologies, we will be able to detect any irregular activities and our Advanced Threat Prevention system will flag any potential problems in real-time, preventing breaches before it is too late. This makes ONAM the most secure trading platform in the foreseeable future. |
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How secure are you gonna be?
i mean can you build your infrastructure so that it can prevent security threats?
and what if some security breaks and your funds gets stolen?
On top of standard DDoS mitigation, anti-phishing, 2FA solutions, and encrypted databases we have developed our own proprietary Advanced Threat Prevention, Intrusion Detection, and Trade Surveillance systems powered by machine learning. With the help of machine learning technologies, we will be able to detect any irregular activities and our Advanced Threat Prevention system will flag any potential problems in real-time, preventing breaches before it is too late. This makes ONAM the most secure trading platform in the foreseeable future. Utilizing our relationship with BitGo we will be storing 99% of funds in bank-grade Class III vaults to ensure the safety of the funds ONAM customers have entrusted us with. |
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What does the private sales bonus mean by TBD? Does that mean their negotiating it on a per investment case? I mean its a pretty substantial investment but was just wondering what kind of bonus those bigger investors are getting during this period? Just wondering
Hey phantam, yes most of the Private sale deals are being negotiated on case by case basis with longer lockup periods for bonus tokens received. But the average has been around 30% bonus for most investments. We are actually almost sold out of our Private sale currently. We are finalizing the paperwork with most of the investors this week. |
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Hello team. I like your features of enterprise grade security, risk management, and advanced trading tools.
But with the growing, crypto market and tokenization of almost all firms, coupled with lots of persons using crypto currencies for transactions, how does onam team plan to keep platform running without crashing?
Hey there, we are proud of our ultra-high performance matching engine capable of processing in the excess of 10 million transactions per second with latencies as low as 40 nanoseconds. We accomplished this by utilizing GoLang programming language designed by Google which was specifically created for computationally intense server applications. The best part, our matching engine auto scales thanks to the AWS infrastructure that we will be utilizing. That will allow us to eliminate any sudden crashes or any other issues related to overloading of the servers. |
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ONAM is a high-performance trading platform which features robust risk management, trade surveillance, advanced trading tools and state-of-the-art security system powered by Machine Learning. ONAM's platform was created to be truly scalable and will satisfy any security, anti-money laundering, and market manipulation requirements that regulatory bodies may have set forth.
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