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Number of messages : 186
Points : 1020
Date of Entry : 2016-03-03
Year : 37

OmiseGo (OMG) New Token!

on Thu Nov 16, 2017 10:15 pm

Omise is a Thailand based firm and was founded in 2013. It provides Stripe-like payment features in Japan and Southeast Asia. In short, Omise GO wants to be the Venmo and Stripe of Asia. It is also based on public Etherreum-based financial technology and can be used in mainstream digital wallets that enables real-time, peer-to-peer value exchange and payment services across jurisdictions and organizational silos, and across both fiat money and decentralized currencies.

By enabling decentralized exchange at high volume and low cost, they are providing a value transfer service operating across currencies and asset types, and across national borders and corporate ledgers.

Key Highlights:

  • OMG raised $25 million via token sale
  • It’s not performing well in the exchange and is currently trading at $7.8

ICO Results

Omise has raised $25 million (it capped its ICO there) via token sale which ended in July. It has become one of the established tech firms to raise money from the ICO pool. They have also raised $20 million from traditional VC investors.

The company has sold an initial 65.1 percent of the total float of OMG via this ICO, with a further five percent of the tokens automatically given to anyone who owns Ethereum in what is known as an ‘airdrop.’ What’s left is split between funds that will be used to finance OMG/Omise, and an allocation for the team and Omise’s investors.

How traders are taking OMG?

If we look at the exchange performance of OMG, it had a lot of ebb and flow. The initial high demand of the token took its value above $13 from $6 in a month. But it could not hold that ground, and a downward movement followed that with a lot of zig-zag.

A quick look at the weekly chart shows that the token is having a dull week with no significant movement either way. Though an early week downward trend is prominent, the token is currently trading at $7.8, which is 17% less than the early week value. Both the Alligator and MACD curves are moving flat, and the RSI is around 45%.

OMG is very successful ICO!

OmiseGO focusses on three core features across both its blockchain and wallet technologies.

Key Features:

  • Access:  Users can access the OmiseGo exchange without a bank account.
  • Scalability: Instant settlements and low costs are top priority for OmiseGo.
  • Security:  A decentralized currency system where a third party does not dictate authority – the goal is to promote financial inclusion through a secure and accessible system.

How is it different from other Cryptocurrencies?

OmiseGO is attempting to create a system that offers cheaper rates for processing payment transactions as well as for carrying out currency exchange transactions.  OmiseGo claims to offer a more efficient system that can effectively disrupt existing financial institutions and successfully transact on digital and fiat currencies alike.

A key benefit is that the OmiseGo Blockchain enables decentralized exchange on a public blockchain at high volume and low cost. Anyone connected to the Ethereum main network will be able to use the OmiseGO network. The platform will create easy access for millions of users to participate in cryptocurrency transactions.

OmiseGo has been designed specifically to fulfil a number of transaction use cases – specific examples include remittances, payroll, company loyalty schemes, asset management and trading, and B2B commerce – to name only a few.

Trade NEW!

Risk Warning: The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

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