OmiseGo(OMG) Decentralized Exchange and Payments Platform

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OmiseGo (OMG) founded in 2015, by Omise a venture-backed payments company operating in Thailand, Japan, Singapore, and Indonesia, with rapid expansion plans to neighboring countries across Asia-Pacific. In November 2016, Omise was featured on Forbes as a Fintech Rockstar.

OmiseGo is Aiming to build a decentralized exchange, liquidity provider mechanism, clearing house messaging network and asset-backed blockchain gateway. OmiseGo is open source distributed network of validators which enforce behavior of all participants. They do this by using a protocol token to create a proof-of-stake blockchain, to enable market activity amongst participants. Their main audience will be businesses to adopt them and start using their platform to conduct transactions.

OmisGo Team Commented on ethereum and the projects they have been involved in funding.

“OmiseGo has been a big believer in Ethereum and its family of technologies, contributing funding to the foundation’s Devgrants initiative in 2015, as well as funding the development of Raiden, the Ethereum version of Lightning Network. Our team also collaborated with many other exciting blockchain technologies including Hydrachain, Golem, Tendermint, and Cosmos. With OmiseGO, we look forward to continuing to give back in whatever way we can, so that we can all take best advantage of these new developments”

Currently at time or writing OMG is trading at $8.17 USD and has 98,312,024 million tokens in circulation with a total supply of 140,245,398 million. It is trading on over 19 different exchanges.

Airdrop update as of August 23 2017.

“The drop is expected to begin on Monday, September 4 and is expected to take about a week to complete (depending on Ethereum’s condition). 5% of the total supply of OMG tokens has been reserved for airdrops .A user holding more than or equal to 0.1ETH at block height 3988888 will receive an empty share share that is proportional to the share of ETH. There will be more than 450,000 addresses received OMG tokens. As the ETH community is very large, the vast majority of users receive the amount will be very small and no particular significance. But no matter how much we are, we are very pleased to have the opportunity to express our gratitude to many advocates and, at the same time, we will be able to introduce more to the ethereum community users in the fully open and semi-public OMG Plasma block Pos the possibility of verification. Towards the future, we are looking forward to the continuous development of OMG and Ethereum communities.
Thank you for your attention.
OmiseGO team”

What does this mean for eth holders? I believe it means if you hold ethereum in a private wallet you will receive OMG tokens. If I understand correctly you will not receive OMG tokens if you hold your ethereum on an exchange. If you want to claim your OMG tokens be sure to move your eth to a private wallet before the airdrop date of September 4th 2017.

With OmiseGo funding other startups and organizations in the crypto currency world, as well as being supported by Vitalik Buterin himself (founder of Ethereum) and the airdrop date coming upon us soon, I do think OMG could make some big moves. In the OmiseGo white paper it also states they will be launching their platform in Q4 2017, which is right around the corner very soon that may be launched. If the launch is successful and companies start using OmiseGo their token OMG should see the benefits of mainstream adoption in the near future possibly making it a great investment opportunity.

Taking a quick look at the chart of OMG courtesy of bittrex could it be ready for another breakout. It does appear that way with so many positive and important dates coming up along with the technicals of the chart. Take a look for yourself I do currently hold OMG as I see potential in their business model over the coming months. Each candle on the chart represents 1 Day, decide for yourself if this is a good range to buy OMG.

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