The 4th Generation Crypto Exchange -- OnTrade makes a debut on the Korean Market
| News provided by PRagent
OnTrade.com was officially launched on May 6, 2019, making a debut on Korean markets as its first step to go global. After operating for four months, the crypto exchange registered 125,227 users with an average daily transaction volume of 1.06 million contracts. OnTrade has a number of strategic partners such as well-known security audit firms and famous media groups. Additionally, OnTrade's SNS channels such as Linkedin, Facebook, Twitter, Medium, Reddit, and Instagram, has attracted thousands of followers and investors.
Stable currencies such as USDT and PAX; mainstream token such as BTC, ETH, LTC, NEO, ONT, XRP, TRX, ETC; and promising tokens such as ATOM, BNB, DOT, KSM, COCOS, CKB, ALGO are all listed on OnTrade. Spot exchange, inverse and stablecoin settled contracts are popular products of OnTrade and includes the platform token BNB index contract, the world's first daily settled futures contract, and the BTC Volatility Index contract.
According to Korean media, Seoul is planning to launch its own digital currency to develop as a blockchain smart city by November 2019, hoping to restore the local economy and ensure the leading position of blockchain development.
For a long time, the US dollar remains as the largest Bitcoin trading volume in fiat, with the Japanese yen (JPY) ranking second and the Korean Won (KRW) ranking third, accounting for almost 10% of the total transaction. Asian countries occupy the largest Bitcoin trading volume. South Korea is also one of the most popular "blockchain" countries with almost the whole nation involved in trading digital assets. 40% of Korean young people are very keen on owning digital currency, and its trading volume is even larger than that of the Korean stock market.
It is well-known that many Korean local exchanges have been attacked by hackers and large amounts of crypto currency were lost due to faulty systems, risk control, management, etc. Therefore, a more professional, safe and cutting-edge trading platform is urgently needed in the Korean market -- OnTrade emerges as a contender.
The World's First Daily Settlement System
OnTrade Global is the first daily non-debt settlement system, that is, daily transactions and positions of all accounts are settled separately according to different varieties and different periods of contracts. After settlement, the user's equity remains unchanged, and the unrealized profit becomes the available balance, so that users can withdraw in time. Other popular crypto exchanges adopt this system as well.
Global Original Daily Settlement Contracts
The global original daily settlement contracts are different from the market's weekly, monthly and quarterly delivered contracts, providing users with extremely short-term speculative products and more complete investment strategy baskets. The daily contract carries out debt-free delivery on the contract's profit and loss, trading margin and handling fee, etc., to avoid the situation where the user forgets to close the night position, which greatly reduces the risk of forced liquidation and triggering auto deleverage mechanism. This provides users with enough time to adjust margin or asset allocation, reduce investor transaction costs, and is more conducive to maintaining the normal operation of the contract market.
Full System Trading Platform
As a fourth-generation digital asset exchange, OnTrade is built on top-level financial derivatives system, with 9 systems and 34 modules. It has a complete trading, settlement and risk control systems, and is ranked highly by the financial derivatives industry. The team, which includes the senior team in the blockchain industry, and the senior team in the financial trading industry jointly built OnTrade. At the same time, the OnTrade system has a highly scalable, thin and cohesive engine, with a liquidation rate of up to 2.5million/minutes, a response time of <200μs, and a single-process single-thread of 30,000/second.
All-round Risk Control System
OnTrade operates on institutional-level financial exchanges for technical systems, transactions, wallets, internal business management, operational processes, personnel safety, etc., and has bank-level security protection capabilities. OnTrade adopts strict multiple random check hash encryption storage to securely protect user information from the source and monitor and the audit of the transmission of user information.
The Future is Coming
OnTrade plans to launch its own platform token in the future, including but not limited to various application scenarios such as airdrop, margin, voting, fee deduction, transaction mining, and community governance. At the same time, it supports mini BTC (mBTC) contracts, perpetual swaps, options, indice futures, certificates, turbos, exotic options and other more diversified innovative financial derivatives, leveraging, lending, custody and other full-service integrated services to meet the needs of various users. OnTrade is committed to bringing the technology and experience of traditional financial derivatives to the crypto economy, insisting on innovation and leading the development and improvement of the encrypted digital currency industry.