Welcome Bonus
Users receive a bonus in OmniCoins when they install OmniBazaar and register their user name. Limit: one bonus per computer. The maximum number of coins emitted as a result of this bonus will be 1.4 Billion coins.
OmniCoin is the Cryptocurrency of the OmniBazaar Marketplace
OmniBazaar is an OPERATING e-commerce marketplace developed using our PATENTED technology. OmniBazaar provides an “on-ramp” to both e-commerce and cryptocurrency adoption for billions of "un-banked" consumers, by allowing users to "barter for bitcoin". People without a bank account or credit card can now barter a product or service to immediately receive OmniCoins, Bitcoins or Ether.
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The OmniBazaar ecosystem includes its own built-in cryptocurrency (“OmniCoin”), reputation tracking, escrow agents, an influencer marketing system, social messaging, and user incentives for participation and growth.
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OmniBazaar can serve over two billion people who currently cannot use Amazon, eBay or Alibaba. We have a working software product with 10,000 registered users, a distributed marketplace with hundreds of product and service listings by users in more than 30 countries, and real sales in the marketplace. And, our OmniCoin tokens have an established value in that marketplace. The OmniBazaar/OmniCoin software is available in 17 languages.
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With OmniBazaar, online buyers benefit from lower prices, and escape from "big data" tracking and "push" marketing. Social influencers enjoy a simple referral system that allows them to monetize their social networks. Users can make money by publishing listings for other user or providing escrow services in the marketplace.
WHY OMNICOIN?
Fast Transactions
OmniCoin can process over 50,000 transactions per second – more than Visa and Mastercard combined. Confirmation of transactions occurs in less than 10 seconds. This gives OmniCoin the ability to serve the e-commerce market on a global scale.
Easy to Use
Transactions take seconds instead of minutes, so OmniCoin is business-friendly. Transaction processing uses relatively little computing power, so OmniCoin is eco-friendly. And, with OmniCoin, you can send and receive coins using an account name instead of a string of numbers. This makes OmniCoin user-friendly.
Advanced Consensus System
Proof of Participation (PoP) is a new cryptocurrency security protocol. One component of PoP is the Distributed Proof of Stake (DPoS) protocol of Bitshares. We have extended and expanded DPoS by including four other metrics. The software uses these metrics to determine which group of users may process transactions. PoP entrusts the processing of transaction only to the most active marketplace users. These users would have the most to lose by trying to hack or attack the blockchain.
Utility in the Marketplace
OmniCoin tokens allow users to buy and sell quickly and easily in the OmniBazaar marketplace. They also facilitate the escrow process, registration of listings, and the reputation system in the marketplace. You can earn OmniCoins by performing services in the OmniBazaar marketplace, but they do not confer any ownership, dividends or control of the system. OmniCoins are designed to be a utility, not a security.
Promotional Token Distribution
Giving coins to new users paves the way for immediate use of the marketplace, as well as long-term growth. We developed a simple, robust, transparent process for seeding our user base with OmniCoin tokens. This distribution of free tokens is an important part of our roll-out strategy. OmniBazaar will distribute approximately 26% of all tokens as incentives for user acquisition.
Distributed Escrow
OmniCoin has an escrow module to allow volunteer users to mediate between buyers and sellers who do not know or trust each other. We have implemented the OmniCoin escrow feature using 2-of-3 multi-signature transactions. It is easy to use and has a distributed network of escrow agents. Users pay a small fee to the chosen escrow agent when they choose to use the escrow feature.
Dynamic Account Permissions
This creates a hierarchical structure that reflects how permissions are organized in real life, and makes multi-user control over funds easier than ever. Multi-user control is the single biggest contributor to security, and, when used properly, it can virtually eliminate the risk of theft due to hacking.
Decentralized Cryptocurrency Exchange
Trade cryptocurrencies without the need to trust a central site. Buy and sell cryptocurrencies locally, without a middle-man.
DISTRIBUTION
TOTAL 25.0 Billion
USER BONUSES
Welcome Bonus
| USER NUMBER | COINS PER USER | TOTAL COINS |
|---|---|---|
| 1-1,000 | 10000 | 10 Million |
| 1,001-10,000 | 5000 | 45 Million |
| 10,001-100,000 | 2500 | 225 Million |
| 100,001-1,000,000 | 1250 | 1.125 Billion |
Referral Bonus
Users receive a bonus when someone they referred installs OmniBazaar and registers as a new user. The maximum number of coins emitted as a result of this bonus will be 3 Billion coins. Note: Some users may not refer other users. Therefore, this bonus will continue until bonus coins are depleted.
Referral Bonus
| USER NUMBER | COINS PER USER | TOTAL COINS |
|---|---|---|
| 1-10,000 | 2500 | 25 Million |
| 10,001-100,000 | 1250 | 112.5 Million |
| 100,001-1,000,000 | 625 | 562.5 Million |
| 1,000,001-Until Depleted | 312.5 | 2.3 Billion |
First Sale Bonus
Users are rewarded when they make their first sale in the marketplace. In order to earn this bonus, they need to create at least one listing in the marketplace, and sell a product or service to another user. This bonus is received only by sellers. Limit: One per buyer/seller pair. The maximum number of coins emitted as a result of this bonus will be 2 x 10 coins. Note: Not every user who joins will make a sale. Therefore, this bonus will continue until funds are depleted.
First Sale Bonus
| USER NUMBER | COINS PER USER | TOTAL COINS |
|---|---|---|
| 1-100,000 | 500 | 50 Million |
| 100,001-1,000,000 | 250 | 225 Million |
| 1,000,001-10,000,000 | 125 | 1.125 Billion |
| 10,000,001-Until Depleted | 62.5 | 0.600 Billion |
DEVELOPMENT ROADMAP
Marketplace proof of concept
Q4 2015 (Done)
Q4 2015 (Done)
Integrate OmniCoin with OmniBazaar marketplace
Q1 2016 (Done)
Q1 2016 (Done)
Distributed escrow system
Q2 2016 (Done)
Q2 2016 (Done)
Distributed reputation tracking
Q3 2016 (Done)
Q3 2016 (Done)
Distributed user communications
Q4 2016 (Done)
Q4 2016 (Done)
User bonuses and incentives
Q1 2017 (Done)
Q1 2017 (Done)
Alpha testing
Q2 2017 (Done)
Q2 2017 (Done)
Private beta test
Q3 2017 (Done)
Q3 2017 (Done)
Public beta test
Q4 2017 (Done)
Q4 2017 (Done)
Improve ability to scale & new UI
Q2 2018 (Done)
Q2 2018 (Done)
Launch OmniBazaar/OmniCoin
Q4 2018 (Done)
Q4 2018 (Done)
User Acquisition / Air-drop
Q1 2019 (Done)
Q1 2019 (Done)
OmniBazaar Private Placement Angel Funding Round (Pending)
2020 (Done)
2020 (Done)
OmniCoin Exchange listings
Q1 After funding
Q1 After funding
Add Hashed Time-Locked Contract Functionality (HTLC)
Q2 After funding
Q2 After funding
Mobile Apps (Android & IOS)
Q2 After funding
Q2 After funding
Browser Plug-ins
Q2 After funding
Q2 After funding
Develop Bridge to Polkadot
Q3 After funding
Q3 After funding
P2P Cryptocurrency Exchange
Q4 After funding
Q4 After funding
User-issued Assets
Q8 After funding
Q8 After funding
TEAM AND ADVISORS
PARTNERS
