We are pleased to announce that OmiseGO (OMG) and PAX Gold (PAXG) will be listed on Kraken starting October 29.
What is OmiseGO (OMG)?
OmiseGO is a decentralized banking and exchange platform that enables instant, peer-to-peer transactions across multiple blockchains, asset classes (including fiat), and applications. Additionally, it seeks to leverage its parent company’s gateways to traditional and established payment service providers to drive network growth.
- OmiseGO is a Proof-of-Stake blockchain linked to Ethereum. It is powered by the OMG token, which is based on Ethereum’s ERC-20 standard
- The network utilizes a scaling solution called Plasma child-chain technology, which enables speeds of up to 4,000 transactions per second. As a result, users can pay up to 90% lower fees than on Ethereum
- OmiseGO provides an open-source and white label eWallet suite that can be used to digitize and store multiple types of assets. Additionally, the wallet’s device will act as a node on the network and verify transactions
- OmiseGO is an entity under Omise Holdings, created in 2013, which also includes Omise Payments. Omise Payments is an online payment gateway offering a wide range of processing solutions across Asia
- Project website: https://omisego.co/
What is PAX Gold (PAXG)?
PAX Gold (PAXG) gives customers the benefits of actual physical ownership of specific gold bars with the speed and mobility of a digital asset. Physical gold on the blockchain has the advantages of legal ownership of physically allocated gold, without the drawbacks of limited transportability or high storage costs.
- PAXG’s value is tied directly to the real-time market value of physical gold, and it serves as a hedge against crypto volatility
- One token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, held in custody by the Paxos Trust Company
- PAXG is an Ethereum ERC-20 token
- PAXG is operated by Paxos, a trust company and custodian, regulated by the New York State Department of Financial Services. Paxos was founded in 2012
- Project website: https://www.paxos.com/
What time will funding and trading for OMG and PAXG start?
- Funding: Kraken will enable deposits and withdrawals for OMG and PAXG at approximately 13:30 UTC on October 29
- Trading: The first trades will start shortly after funding is enabled, because sell orders cannot be placed until deposits clear (see the required confirmation times for deposits below)
- Updates will be posted on the status page near launch time
- OMG: OMG/USD, OMG/EUR, OMG/XBT, OMG/ETH
- PAXG: PAXG/USD, PAXG/EUR, PAXG/XBT, PAXG/ETH
How to deposit
- OMG: Navigate to Funding > Tick “Show all assets” or Search for OMG > Click “Deposit” next to OmiseGO (OMG), then generate a deposit address and send OMG to this address
- PAXG: Navigate to Funding > Tick “Show all assets” or Search for PAXG > Click “Deposit” next to PAX Gold (PAXG), then generate a deposit address and send PAXG to this address
- For a visual guide, see our support article on generating new deposit addresses
Confirmations required before deposits credit
- OMG: 30 (approximately 6 minutes)
- PAXG: 30 (approximately 6 minutes)
- ICO: $0.35 USD (Sep 2017 – raised $25,000,000)
- All-Time High: $28.35 (Jan 8, 2018)
- All-Time Low: $0.32 (July 16, 2017)
- Current: $0.81 (Oct 21, 2019)
- Market Cap: $113,014,723 (Oct 21, 2019)
- Circulating: 102,042,552 OMG
- Total: 140,245,398 OMG
- All-Time High: $1,559.06 (Oct 6, 2019)
- All-Time Low: $1,453.33 (Oct 2, 2019)
- Current: $1,517.94 (Oct 21, 2019)
- Market Cap: $5,679,167 (Oct 21, 2019)
- Circulating: 2,410 PAXG (total supply fluctuates based on demand)
Which services will OMG and PAXG be available for?
Not (yet) available
Will Kraken list more assets?
Yes! But our policy is to never reveal any details until shortly before launch – not even about which assets we are considering. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future.
Trade with caution
Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).
Invest with caution
Listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network. Do your own research and invest at your own risk.