Omega One (OMT) Review – Omega One ICO Ratings and Details

Ticker:
OMT

Token type:
ERC20

ICO Token Price:
1 OMT = 8.75 USD
(0.01000 ETH)

Fundraising Goal:
236,200,000 USD
(270,000 ETH)

Available for Token Sale:
45%

What is Omega One?

Omega One is an algorithm that seeks to develop a trading platform for cryptocurrency that provides more stabilization, security, and transparency to the market. In their view, since crypto markets are mostly in their infancy, there are issues with liquidity, potential for hacking, and fragmented trading platforms.

As an example, the platform website points to an occurrence in June of 2017 when the price of Ether fell 99.9% in less than a second then rebounded immediately. This happened because of a multi-million dollar sell order for which there weren’t enough buy orders to absorb such a large transaction, the price of Ether dropped significantly, which, in turn triggered hundreds more sell orders, which dropped the price even further.

In order to attract more money and begin to compete with more traditional forms of currency, cryptocurrency needs to eliminate the volatility within the market. Omega One trades on your behalf across all the world’s trading platforms to ensure that you trade at the best price. A timeline of the platform’s plans for a token sale and launch are not provided, however they do state that the token sale will come after the product launch which should take place sometime in 2018.

How Does Omega One Work?

The platform will offer a token, called the Omega One token, using the Ethereum ERC20 making it available for tokens on all blockchains. Value for the token will be generated through membership access and the payment of fees for trading. Those who have a large number of tokens will received a discount on their trading fees and preferential liquidity treatment.

Beyond that, there is not much explanation regarding how the platform will actually work, though there is an explanation regarding the areas that funding will focus on developing. A majority of the funds will go to developing the balance sheet as their ability to handle a large amount of trades at one time will be one of their primary strengths. They state that their ability to handle trading volume will be proportional to the size of their balance sheet.

Features and Benefits of Omega One

The platform is not created yet, so the features are unknown at this point, but the potential benefits of Omega One are made clear through the whitepaper. One such benefit is that the members’ funds will be decentralized and under control of smart contracts on the blockchain, improving transparency in trading. Furthermore, liquidity will increase under Omega One, as it will aggregate liquidity across multiple exchanges and utilizes trade execution logic. The lack of liquidity is often what scares away potential investors, so this has a chance to grow crypt markets as a whole.

Additionally, the platform will feature a secure non-custodial smart contract wallet system. This greatly reduces the risk money being stolen by hackers, by keeping the users’ money in their wallet until the moment their trade is executed. Finally, trades and transactions will become significantly cheaper as their smart execution and order routing system can reduce the liquidity costs required to complete the transactions.

The Omega One Token Sale

The token sale for Omega One has not yet been scheduled, and the whitelist is going to be announced later as well. Unfortunately, China, Canada, and Korea will not be allowed to participate in the token sale. The tokens will be referred to as OMT and will be distributed as ERC20. It is not clear how many tokens will be created in total, but Omega does clarify that 25% of the total tokens will be made available during the token sale.

The fundraising goal for the ICO is set at $230.2 million or 270,000 ETH, and as of yet they have not raised any money in presale. ETH is the only currency accepted during the sale, and no minimum or maximum contributions have been set. 1 OMT is equivalent to $8.52 or 0.01 ETH. Potential bonuses have not yet been announced either.

As a date for the public sale has not yet been announced – it is expected to be announced after the product launch in Q2 of 2018 – there is also no breakdown of the expected allocation of the tokens or the money raised during the sale period. We expect these to come later when the public sale draws nearer.

Who’s Behind Omega One?

There is significant information provided regarding the key team members of Omega One through their company website. The CEO is Alex Gordon-Brander and he is described as being one of the world’s leading trading platforms and holds a patent on the MarketAxess bond trading platform. At COO is Michael Guadrrama who is has worked at T.Rowe Price as Global Head of Investments Technology, as well as Head of Trading Technology with Bridgewater Associates.

Daniel Flax is the CTO and has worked to help several financial institutions make technology transitions, including Cowen and Company, The Street, and CAN Capital. He was also the Managing Director of Trading Systems at the New York Stock Exchange. The trading product manager is James Featherly who worked with Morgan Stanley for over 13 years as Executive Director of the Electronic Trading Product Team. There are six other team members names through the site with links to their LinkedIn accounts provided.

The advisory board for the company consists of ten people, including the co-founder of Ethereum, former CFTC Commissioner, Head of Trading at Bridgewater, and many more.

Conclusion

At this point Omega One represents a hypothetical buying option for most investors, as a public sale has not yet been announced and the technology is still in development. That said, what Omega One is proposing is appealing in that it is a necessary step for cryptocurrencies to begin to rival the traditional currency markets, potentially providing it with the liquidity it needs to become more stable.

There is significant competition in this area for Omega One as several other companies are attempting to solve the liquidity problem presented by the crypto markets. That said, the team behind Omega One is deep with experience and skill, and if they can produce the technology within the first half of 2018, they should have a leg-up on their competition. They have also partnered with CorenSys to help with the development of technology and have the personnel to attract the attention of big-time private investors.

There are still a lot of questions to be answered by the ICO, and there are significant risks such as taking on a large balance sheet and a lot of competition. That said, the experience of the team and potential for growth from Omega One should be appealing to many investors.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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