OAMANPURI (AML) ICO Review
AMANPURI is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.
|Ico Time||Unknown – Unknown|
|Price||1 AML = 0.08 USD|
|Hard Cap||10,000,000 USD|
More about OAMANPURI (AML) ICO:
The AMANPURI Exchange ecosystem is a system that offers spot transactions and up to 100x leverage transaction system and complete security with a focus on the 100% protection of customer assets through collaborations with major custodians and the use of blockchain transparency consisting of direct financial assistance.
Multi-sig : AMANPURI is based on a multi-sig digital signature scheme. Two or more passwords (secret keys) are required for the remittance of VFA from a Wallet Address. One of the effects of this security feature is that, for DLT exchanges, just by using multi-sig, hackers tend to avoid hacking the exchanges. Furthermore, through management with a cold wallet, customer assets are protected from the threat of hackers.
Cold Wallet Management : Basically, customer assets are kept in a cold wallet which curtails the risks associated with hacking. Furthermore, in regard to withdrawal procedures, we restrict withdrawals to one per day, and randomly decide the time period during which procedures are carried out each time through our own algorithm. Through compliance and this algorithm’s special irregular changing of timings, we offer complete protection. As an asset holding operation, protecting customer assets is our first priority. In regard to each withdrawal application, it will not be dealt with individually, for example, if there were to requests of withdrawals from 100 accounts, they will be processed together. This can act as a countermeasure against hacking.
Partnerships with Custodians : Currently, we are undergoing negotiations with a major custodian that is a licensing company of the British FCA in order to manage customer assets separately. We plan to start a trust agreement with our custodian around 2023. When custodians are attacked through things like hacking, the Bank of England compensates them for the damages, so we can indirectly protect customer assets 100% with respect to the separately managed funds.AMANPURI entrusts the management of assets to a custodian that clearly separates and manages the investment assets of AMANPURI and the investment assets of customers. In the unlikely event that the AMANURI Exchange collapses, AMANPURI Exchange investors will be repaid their investment minus any associated costs.
Pool : Strict management of the multi-sig signature and cold wallet, and security measures such as partnerships with custodians will be carried out, and in addition, we plan to pool 5% of the monthly operating profits as funds solely for the purpose of covering customer assets in the event of damage caused by attacks. Until we have reached a joint agreement with our custodian, we will pool funds set at 7% of the operating profits to protect customer assets from all risks.
Regulatory Authorities Solutions
The AMANPURI Exchange is licensed in the Republic of Malta to minimize the impact of regulations on customers. Since March 2018, the Republic of Malta has taken a very positive stance towards blockchain technology and is adopting it as a national strategy. It is also attracting major DLT exchanges like BINANCE and OKEx. Malta is currently trying to establish a reputation as a “blockchain island” by building a regulatory environment that can effectively utilize VFA. As the government has a positive attitude, the banks are supportive of the business.
Poor Customer Support Solutions
Currently there are more than 190 countries and 6900 different languages on the planet. Many DLT exchanges support only a very limited number of languages such as English and Chinese, which does not help to attract prospective users. Furthermore inferior email-only support is cited a major problem as issues cannot be resolved in real time. The AMANPURI Exchange will introduce a customer support phone service by May of 2020 and will correspond in English, Chinese, Korean, Hindi, Spanish, French, Arabic, Russian and Portuguese (for the first release, correspondence will be in English only). Other languages will be added over time.
The AMANPURI Project is managed by AMANPURI Co., Ltd. (C 88856) which was founded in the Republic of Malta. The information in the following AMANPURI Exchange white paper (hereinafter referred to as “this document”) is not comprehensive and does not cover all aspects of AMANPURI Token sales. This document is not legally bound to AMANPURI Co., Ltd. and or any third parties nor does it impose contractual obligations between such parties. The contents are not considered legal opinions or advice on the subject matter covered in this document.Before entering a legally binding contractual relationship or making any related transactions, it is advised that future AMANPURI token owners receive independent opinions and professional consultation. This document is provided for informational purposes only.AMANPURI tokens, regardless of jurisdiction, should not be regarded as stocks, bonds or any kind of financial security. This document does not constitute any kind of public offer regardless of jurisdiction, including but not limited to providing financial securities.AMANPURI Co., Ltd. will not consult, provide advice, or provide information on acquisitions, sales, purchases or other transactions made with AMANPURI tokens. This document is not a basis for binding agreements or investment decisions related to AMANPURI Exchange. There is no attached obligation of any kind concerning the purchase or sale of AMANPURI tokens that may arise from this document.The AMANPURI Exchange website, this document, and other informational materials are available in multiple languages. In such cases, the English versions of the documents are the binding documents and should there be any inconsistencies, the English version overrides any other versions. AMANPURI Co., Ltd. assumes no responsibility for incorrect, inappropriate or misleading translations.In addition, in this document we follow the Virtual Financial Assets Bill of the Maltese government,crypto-currencies are classified as a Virtual Financial Asset (VFA) and the crypto-currency exchange is classified as DLT (Distributed Ledger Technology).
The AMANPURI Exchange is a licensed DLT exchange based in the Republic of Malta that offers first-class VFA and VFA / FIAT exchange and payment solutions. The AMANPURI Exchange ecosystem is a system that offers spot transactions and up to 100x leverage transaction system and complete security with a focus on the 100% protection of customer assets through collaborations with major custodians and the use of blockchain transparency consisting of direct financial assistance. The intuitive, simple navigation system has an effective interface even with new users and offers a satisfying platform for experienced investors. In addition, in order to pursue complete customer support, we will provide multilingual customer service via a telephone service which is said to be a rare feature in the industry. Our own issued AMALtoken is available as a transaction fee and in addition to guaranteeing security and usability, we improve operability and transaction speeds through simple programming and architecture. The predecessor of the AMANPURI Exchange is an organization that performed asset management on high leverage systems in the field of FX for 8 years in Belize and the AMANPURI project has been promoted by a team of successful, experienced financial experts. AMANPURI, with its eight years of achievements has gained the trust of its customers in an industry where many disruptive traders have disappeared from the market. AMANPURI provides the highest security, reliability and accountability based on the 100% protection of customer assets with an original security system, a pool of supplementary funds and discrete management in collaboration with major custodians, and strives to overcome the shortcomings of other exchanges that have repeatedly caused serious losses for token issuers and owners. To accomplish this, t he team is based on having a high level of knowledge of DLT technology, a deep understanding of the operation of VFA, and has built a strong corporate culture that is thorough when it comes to security and compliance.
VFA tends to be treated like a trend that came about from temporary popularity. Actually, the Bitcoin blockchain block was first created in January of 2009, and we are currently almost 10 years past its first creation. Though VFA has experienced repeated declines, on the whole it continues to grow rapidly and slowly at times, and currently the market capitalization of VFA as a whole has exceeded 600 billion USD, and is steadily maintaining its position.With the development of IT technology, the development speed and precision of products are improving but the development of the technology and the speed of growth concerning VFA surpass the rest. Marc Andreessen, a global capitalist, has spoken around the world about Bitcoin (blockchain technology), and in his inspirational speeches he states that this technology is one of the three major revolutions in the IT industry along with personal computers and the Internet. However, let’s think about comparisons between this 10 year period and the dawn of the Internet.The first ARPANET link, which was the world’s first packet communication computer network, also known as the origin of the Internet, was achieved ten years after the start of its development. Hundreds of links have since been established over the course of more than 10 years and the internet has grown rapidly and established permanent status. By paying attention to this point, not only does growth and establishment of the outstanding speed of VFA become clear, but at the same time, one can be convinced of further developments.Although VFA can easily transfer money between individuals, it is undoubtedly the existence of exchanges that support the market that is expected to become vast in the future. According to coinmarketcap.com which compiles and announces VFA statistical information, there are currently 220 active registered exchanges. Also, the project is registered in the world’s largest ICO database, ICObench, with 4623 projects as of October 1st, 2018 and some 830 projects among them respond to the keyword of “exchange”. It would be unwise to enter this market trend without a clear USP(Unique Selling Proposition). Even if one succeeded in raising the funds, it would be difficult to achieve the same transaction volume as a large scale or major exchange no matter how much effort has been committed to marketing. DLT exchanges can be distinguished by several factors depending on the platform type (centralized, decentralized or hybrid), market volume and transaction type, but the top ten exchanges exceed over 300 million USD a day. For example, as of October 1st, 2018, BitMEX, which boasted the highest volume, recorded an arbitrary 24-hour market volume of 1.39 billion USD. Binance, which was second place, recorded 840 million USD on the same day, which was far behind the volume of BitMEX.BitMEX is introducing the first up to 100x leverage transaction service in the industry. In the case of leveraged transactions, transaction fees are calculated using the leverage values, so it can be assumed that their ranking was due to the procurement of huge transaction fees. The important thing here is the fact that this 1.39 billion USD amount is not particularly large for the 24 hour volume of BitMEX. BitMEX maintains continuous high volumes and announced that it officially had recorded a volume of 8.5 billion USD on July 25th, 2018. Many of the 220 exchanges that are registered as active exchanges only offer spot transactions, or 3x leverage.Therefore AMANPURI is confident that the competition is small (currently BitMEX only), and that it can clearly differentiate itself from its competitor BitMEX, AMANPURI has established itself as an exchange that can engage in high leverage transactions.As high-leverage trading systems are very risky when compared to spot transaction trading systems, high-level technical skills and experience are needed. This is also the reason why there are fewer 5entries into the field. For FX in foreign exchanges where high leveraged trading is common, it is common that brokers operate as bucket shops. In the highly volatile VFA market, orders at exchanges prevent bucketing. Basically, like spot transactions, one can sell and buy on an “order book”, but it is not only that, orders must be dealt with by various settings and tools including loss-cut setting. The speed and the number of orders to be covered become important elements for high leverage.Of course, if a major company such as Binance has high technical capabilities and capital strength, it is assumed to be possible for them to provide a similar trading system. Considering Binance’s current status in the industry, it seems unnecessary to take the high risk associated with entering the market.As for AMANPURI, while there are not many competitors, AMANPURI will proceed to solidify its position in the field of high leverage exchanges.AMANPURI has accumulated experience in the high leverage FX field for many years, but there were many non-licensed FX brokers engaged in bucketing during the creation period of FX. Currently, most of them have been weeded out, but it appears that this same situation will occur in the VFA industry from now on. It is the users and the investors who suffer these kinds of damages such as opaque transactions, contract denials, unexpected server down time, withdrawal refusals, communication breakdown with a customer support team and sudden closings. AMANPURI will inject funds into both leverage and spot transaction and order matching systems and marketing to raise the transaction volume and protect customer assets. In addition, AMANPURI will strive to achieve the world’s largest transaction volume with help from experienced marketing strategy professionals. From here on out, users are demanding a more sincerely and honestly managed exchange.
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OAMANPURI (AML) ICO Scam or Not?
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