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# 1st Gen Model OmiseGo

$7.81 Last close price
at 19-nov-2017

OMGUSD

Model's trade recommendations No return for period yet

140.25M Total coins mined

OMGUSD

Model (following trade recommendations)

OMGUSD

Underlying stock

S&P 500

Index
Return for period
14.18%
1.78%
52wk return
1313.32%
16.82%
52wk Range
0.38—12.79
2000.54—2399.63
  • PoS Proof type

OmiseGO is building a decentralized exchange, liquidity provider mechanism, clearinghouse messaging network, and asset-backed blockchain gateway. OmiseGO is not owned by any single one party. Instead, it is an open distributed network of validators which enforce behavior of all participants. It uses the mechanism of a protocol token to create a proof-of-stake blockchain to enable enforcement of market activity amongst participants.

Owning OMG tokens buys the right to validate this blockchain, within its consensus rules. Transaction fees on the network including payment, interchange, trading, and clearinghouse use, are given to non-faulty validators who enforce bonded contract states. The token will have value derived from the fees derived from this network, with the obligation/cost of providing validation to its users.