"One coin per villa, one coin per young model" If you are in the currency circle, you must have heard this sentence. After all, it was the common pursuit and belief of many people in the currency circle (and it is still?). Among them, the source of "one coin, one young model" is the famous OMG.

OMG coin, full name OmiseGo, nickname Nenmo coin. Why does OMG have such a sexy name? It is said that OMG had this sentence when promoting it: What is our slogan? One coin one young model, the Chinese translation means "one coin one young model", and OMG also invited many beautiful models to promote, full of se qing CX flavor, so netizens called this coin a young model Coin, OMG also got its name from this.

When hearing this name that is quite copycat and seductive, the first reaction of most new leeks is: What kind of coquettish thing is this? People who are not familiar with this project may probably think: What kind of air project is this? When I first saw the name of this coin and the accompanying picture, I thought I was on a small porn website. But what is surprising is that OMG is contrary to many contemporary scumbags. OMG is not only a real and useful project, but it has also been favored by many big names in the currency circle and invested by many well-known brands. Even the famous founder of Ethereum, V God, favors it.

In the OMG advisory team, co-founders Dr Gavin Wood and Buterin volunteered to serve as technical advisors for the OmiseGo project. Its white paper was even written by Joseph Poon (founder of Lightning Network). In addition, the advisory team also includes well-known financial professors and lawyers in the industry. Team composition. Because Buterin is so famous, many projects pretended to be under his guise. Later, this guy directly publicly promised that he would not serve as a consultant for any future ICO projects in the future, with the exception of Omisego and Kyber. The favor of big names in the industry gives OmiseGO a strong advantage in Ethereum technology and operation and maintenance.

Unlike most projects that are always in the white paper stage, OMG was already quite famous before the ICO. OMG’s parent company, Omise, was founded in 2013. Omise is a financial technology company. In 2016, it received more than US$17 million in Series B financing led by SBI, becoming the FinTech company with the highest amount of Series B financing in Southeast Asia. In November of the same year , was named a “Fintech Star” by Forbes magazine. In May 2017, Omise announced that it would cooperate with Alipay to launch an e-wallet to help local merchants in Thailand accept online payment transactions from Chinese tourists.

In the influential Omise company, OmiseGo is one of its projects, and the abbreviation of the OmiseGo project is OMG, and the tokens issued through this project are also called OMG coins. OMG uses a public financial technology based on Ethereum for mainstream digital wallets, which can conduct real-time, peer-to-peer value transactions and payment services using fiat currencies or encrypted digital currencies across national jurisdictions and organizations; it has built a Decentralized exchanges, liquidity provision mechanisms, clearing information networks and asset-backed blockchain gateways.

OMG is an open distributed verification node network. The verification nodes in the network will constrain the behavior of all participants. It uses a protocol token mechanism to create a proof-of-stake blockchain to enable market activity among participants. Unlike almost all other decentralized exchanges, this distributed network allows direct decentralized transactions between different blockchains without the need for a trusted gateway token. Omise offers the sale of OMG, allowing token holders to earn fees when validating transactions on a particular proof-of-stake (POS) network.

Simply put, OMG is a decentralized trading and payment platform. Through the OMG network, anyone can flexibly complete payment, remittance, salary storage, B2B commerce, supply chain financing, credit system, asset management and trade, and various on-demand financial services at low cost. OmiseGO has said that its vision is to help users "get rid of the shackles of banks" and provide everyone with alternative financial and digital business tools.

All in all, in a word, what OMG wants to do is to be like China's Alipay.

Obviously, the OMG project has many advantages that cryptocurrencies do not have:

1. OMG merchants can directly accept digital currencies such as BTC and ETH without agreeing on payment methods in advance, which is very convenient;

2. OMG payment services do not require centralized review and are open and transparent;

3. OMG transfers are not limited to cryptocurrency, but also include fiat currencies, and are almost instant;

4. OMG holders can obtain certain POS consensus rewards, which is also a good additional income during the currency holding process;

Having said this, you may think of Ripple, which is also positioned in the field of cross-border payments. Compared with Ripple's centralized and non-open gateway structure, OMG is more open and supports more complex payment logic and smart contracts.

BTW, let me tell you the details of OMG’s currency distribution:

65.1%: ICO, distributed to investors participating in the ICO

5.0%: Ethereum holders will be airdropped and distributed in proportion to their holdings

20%: retained by the OmiseGO project as part of the cost of project development and execution, with a one-year lock-in period;

9.9%: reserved by the team, reserved by team members and early investors, with a one-year lock-in period.

It is said that OMG completed a $25 million ICO in one day, and also acquired Paysbuy of Thailand’s largest payment service provider, telecom operator Dtac. This move directly provided OMG with a large number of effective customers. At present, OMG's main markets are Japan, Singapore, Malaysia, Thailand, etc., and the team is also actively expanding into the Southeast Asian market.

Although OMG has received high praise from many insiders, it also faces many known and unknown challenges:

1. Competition in the payment field is fierce

The competition in the payment field in Southeast Asia is quite fierce. OMG faces competitors not only including local payment startup 2C2P, but also the global payment giant Stripe. China’s Alipay and WeChat Pay have also entered the Southeast Asian payment market. In addition, there are The numerous small payment companies cannot take it lightly.

2. Policy risks

Given that the payment field involves a large amount of funds and is also very important, it will naturally be subject to strict supervision (the country is also currently rectifying the third-party payment market), especially when it comes to cross-border payments. OMG faces greater legal and regulatory risks.

3. Project progress risks

OmiseGO is obviously a complex system that requires a lot of maintenance work from the team, such as PoS consensus algorithm, DEX implementation, Plasma, SDK electronic wallet and compliance functions. This means that there are many risk factors that can delay the release of the project at any time. The popularity of BTW products also requires good promotion to gain market recognition. Although OMG is already very well-known, the nickname Nenmocoin has made many people resist understanding it. In a sense, it is not a good publicity.