OmiseGO is an online payment gateway service provider
operating in Southeast Asia. OmiseGO was created to achieve two goals:
Create the OMG Money Gateway as a scaling solution for Ethereum
Develop the OMG open-source, white label digital wallet Software Development Kit
As proposed in their whitepaper, through the OMG network, anyone will be able to conduct real-time, peer-to-peer financial transactions, including but not limited to payments, remittances, payroll deposit, B2B
commerce, supply-chain finance, loyalty program activity, asset management, and other on-demand services in a completely decentralized and inexpensive way, and including highly
performant and fully decentralized trading.
OMG network consists of several layers:
- White-label Wallet Software Development Kit (SDK)
- Decentralized Exchange (DEX)
- Scalability Network Mechanism
- Decentralized Cash In/Out Layer
The OMG token is a staking token. By holding OMG tokens, users gain the right to take an active role by running validator nodes on OMG’s Proof of Stake network, using their tokens as a security deposit. Returns may be paid out in any currency, including but not limited to OMG. Read more on staking OMG here and here.