OmniCoin is the token of OmniBazaar marketplace

OmniBazaar is a new type of e-commerce marketplace that removes the middlemen and bankers from e-commerce. OmniBazaar uses a patented “peer-to-peer-to-peer” architecture to remove the middlemen. It uses cryptocurrencies to eliminate the bankers. OmniBazaar fees are up to 100% lower than those of existing e-commerce sites like eBay and Amazon. OmniBazaar users deal directly with each other, rather than through a central site like Amazon or eBay.
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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.
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OmniBazaar uses OmniCoins, Bitcoin and Ether for payment (instead of credit cards or PayPal). So, OmniBazaar provides a “gateway” for new cryptocurrency users to acquire their first bitcoins or OmniCoins. These new users can get coins by selling goods and services in the OmniBazaar Marketplace. This reduces the “barriers to entry” when first acquiring cryptocurrencies.

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

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.

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)
Integrate OmniCoin with OmniBazaar marketplace
Q1 2016 (Done)
Distributed escrow system
Q2 2016 (Done)
Distributed reputation tracking
Q3 2016 (Done)
Distributed user communications
Q4 2016 (Done)
User bonuses and incentives
Q1 2017 (Done)
Alpha testing
Q2 2017 (Done)
Private beta test
Q3 2017 (Done)
Public beta test
Q4 2017 (Done)
Improve ability to scale & new UI
Q2 2018 (Done)
Launch OmniBazaar/OmniCoin
Q3 2018 (Done)
User Acquisition / Air-drop
(In Progress)
Q4 2018
Token sales (four phases)
Q4 2018
Exchange listings
Q1 2019
Browser Plug-ins
Q1 2019
Mobile Apps (Android & IOS)
Q1 2019
P2P Cryptocurrency Exchange
Q2 2019
User-issued Assets
Q2 2019

TEAM AND ADVISORS

OmniBazaar CEO, Co-Founder, Director -- OmniCoin Director

Rick has a master's degree in Engineering from Stanford University, 30+ years of entrepreneurial experience, 15 years as a securities broker dealer Branch Manager and Securities Principal, and 8 years managing software development.

https://www.linkedin.com/in/rickcrites

Richard Crites

OmniBazaar CEO, Co-Founder, Director -- OmniCoin Director

OmniBazaar Co-Founder, Director

Bill holds an MBA in Finance from the Stanford University Graduate School of Business, and is a Chartered Financial Analyst (CFA). He has over 30 years of experience in finance, including 14 years as CFO of Internet and high-tech companies.

https://www.linkedin.com/pub/bill-moon/7/652/748

Bill Moon

OmniBazaar Co-Founder, Director

OmniBazaar Co-Founder, Director

Dave has and MBA from Northwestern University’s Kellogg School of Management, Bachelor’s in Electrical Engineering, 15 years of experience in software, electronics, and semiconductor industries, and experience drafting and prosecuting patents.

https://www.linkedin.com/pub/dave-crites/1/91a/baa

David Crites

OmniBazaar Co-Founder, Director

OmniBazaar Co-Founder, Advisor

Chuck has a Bachelor’s degree in Electrical Engineering and 25 years of leadership in Business Development, Sales Management, and Marketing in telecommunications and Internet technology companies (Hewlett Packard, Agilent, and Digital Lightwave).

https://www.linkedin.com/in/loadstonetech/

Chuck Koch

OmniBazaar Co-Founder, Advisor

Director -- OmniCoin Foundation

Yusuf is a graduate of the Bilkent University School of Business Administration. He is a co-founder of TokenDrops.com and Head of Sales at TokenSuite.com. Yusuf provides marketing guidance for OmniCoin.

https://www.linkedin.com/in/yusuf-kaya-90b41110b/

Yusuf Kaya

Director -- OmniCoin Foundation

Advisor -- Marketing

Omer was instrumental to the establishment of TokenSuite, one of the most successful marketing agencies in the blockchain space where he holds the CEO position. He is one of the oldest active members of Bitcointalk.

https://www.linkedin.com/in/ali-%C3%B6mer-horzum/

Ali Omer Horzum

Advisor -- Marketing

Attorney -- U.S. Legal Advisor

Kaiser counsels OmniBazaar on corporate structuring, securities law, and investor agreements. He also drafted our technology, end-user licensing, and privacy agreements.

https://www.linkedin.com/in/kaiserwahab/

Kaiser Wahab

Attorney -- U.S. Legal Advisor

Desktop Wallet and Blockchain Developer

Alexey was responsible for the project's blockchain back-end work in C++. He is also experienced in C, C#, Python, OpenCL, OpenGL, QML, Qt, OpenCV, and .Net technologies.

http://linkedin.com/in/alexeymarkarov/

Alexey Markarov

Desktop Wallet and Blockchain Developer

C++ OmniCoin Developer

Nikita is a web/iOS client developer with blockchain experience. His core competence is BitShares/OmniCoin blockchain, Javascript (React.js) and iOS.

https://www.linkedin.com/in/nikitakunevich/

Nikita Kunevich

C++ OmniCoin Developer

Lead Developer

Alan is our Technical Lead. He supervised the development of both back-end (blockchain nodes and publisher servers) and front-end.

https://www.linkedin.com/in/alan-omarov-94657017/

Alan Omarov

Lead Developer

Java Lead Developer

Muhammad is a full stack web developer with knowledge and experience using Ruby, Javascript, Mysql, Access, and Oracle databases.

https://www.linkedin.com/in/ateq-rana-61960953/

Muhammad Ateeq Rana

Java Lead Developer

Back-end Developer

Denis is a lead developer on the OmniCoin wallet. His main areas of expertise are Electron, React.js, Python and Javascript.

https://www.linkedin.com/in/denis-samokhvalov-450691116/

Denis Samokhvalov

Back-end Developer

Database Developer

Andrei worked in C++ and CouchBase. He is also familiar with Java ,C, Lua, QML, Qt, MFC, Matlab, MySQL, SQLite, PostgreSQL, and 3D Graphics.

https://www.linkedin.com/in/andrei-pak-14272179

Andrei Pak

Database Developer

Web and UI Developer

Gor is familiar with both front-end and back-end technologies. He worked on the React-redux and Electron.js user interface.

https://www.linkedin.com/in/gor-shipaktsyan-528aa759/

Gor Shipaktsyan

Web and UI Developer

Web and UI Developer

Rafayel worked in React.js, Redux, Bitshares.js, and Node.js on the OmniBazaar UI. He also integrated the Telegram, Twitter, MailChimp, and KYC/AML verification modules.

https://www.linkedin.com/in/rafayel-alaverdyan/

Rafayel Alaverdyan

Web and UI Developer

Web and JavaScript Developer

Hai worked on the OmniBazaar UI using React.js and Ether.js. He is also proficient in C#, .Net, BlockC, AngularJS, and Jquery.

https://www.linkedin.com/in/haivm/

Hai Vuong

Web and JavaScript Developer

JavaScript and Ether Wallet Developer

Dardan used Javascript to work on the Ether wallet. His coding skills also include Ruby, Java, and C++ languages.

https://www.linkedin.com/in/dardan-lladrovci-803a93112

Dardan Lladrovci

JavaScript and Ether Wallet Developer

JavaScript Developer

Tu used React and Redux on the OmniBazaar front-end and NodeJS on the back-end. He is also experienced in Android and iOS systems.

https://www.linkedin.com/in/tutranphuoc/

Tu Tran

JavaScript Developer

Project Manager

Martha is the Project Manager overseeing multiple OmniBazaar and OmniCoin projects to ensure they are done according to specifications and within budget.

https://www.linkedin.com/in/marthaflorea/

Martha Florea

Project Manager

Graphic and UI Designer

Eugen was responsible for the visual design and UX improvements for the OmniCoin app.

https://www.linkedin.com/in/evgenyi-lapshin-a6a23bb4/

Eugene Lapshin

Graphic and UI Designer

Front-end Developer

Maria developed the OmniBazaar wallet UI. She is a specialist in React.js, Redux, Electron, and Flexbox.

https://www.linkedin.com/in/mayauribe/?locale=en_US

Maria Alejandra Uribe

Front-end Developer

Back-end Developer

Dejan worked on the C++ blockchain part of the wallet, and its connection to the React.js user interface.

https://rs.linkedin.com/in/dejanzivkovic90

Dejan Zivkovic

Back-end Developer

Website Design

Creative Web Designer. UI/UX specialist.

https://au.linkedin.com/in/martin-wright-b3744191/

Martin Wright

Website Design

PARTNERS

TokenSuite

TokenSuite


Marketing and Public Relations

Scopic Software

Scopic Software


Software Development

Sum & Substance

Sum & Substance


KYC/AML/CFT Verification

CryptoCompare

CryptoCompare


Cryptocurrency Price Feeds

TOKEN SALE

DETAILS
  • Soft cap = None. (OmniBazaar is operational and OmniCoins are exchangeable in the marketplace.)
  • Hard cap = $20,100,00.
  • Advisor, faucet and previous crowd-funding allocations are not included in hard cap.
  • Proceeds of token sales will be received and administered by OmniCoin Foundation Company (Cayman Islands).
  • Unsold tokens will be retained by OmniCoin Foundation Company, and may be used or sold in the future.

PRE-SALE

$0.0015

TOKEN PRICE

1.4 Billion OmniCoins

Q3 2018

STAGE 1

$0.002

TOKEN PRICE

2 Billion OmniCoins

Q3 2018

STAGE 2

$0.0025

TOKEN PRICE

2.0 Billion OmniCoins

Q4 2018

STAGE 3

$0.003

TOKEN PRICE

3 Billion OmniCoins

Q4 2018

PURCHASE RESTRICTIONS

  • Not available to citizens or residents of the United States, Canada and China.
  • Also restricted: Cayman Islands, Iran, Syria, Sudan, Cuba, Burma, Côte d’Ivoire.
  • White-listing and identity verification required (KYC/AML/CFT).
  • Token owners will not have rights of management, profits or dividends.

Omnicoin Foundation

The OmniCoin Foundation serves as the governance body for OmniCoin cryptocurrency. The foundation’s mandate is to foster a strong, open ecosystem for OmniCoin. It will provide governance, organization, legal and financial support for future development. Many cryptocurrencies and other open source projects have foundations that support them. Examples include IOTA Foundation, Ethereum Foundation, Mozilla Foundation and Linux Foundation. The OmniCoin Foundation will emulate these examples.