The digital currency market is fraught with wild swings in prices. OBITS is a different kind of token that is based on the value of an ecosystem that facilitates the creation and trading of digital assets. Holders of OBITS are thus holding a stake in not one project, but rather, the infrastructure that supports a wide variety of projects based on blockchain technology.
OBITS tokens are hosted on OpenLedger, one of the world’s first Decentralized Autonomous Exchanges. Open Ledger is not a registered “exchange” as traditionally defined by the U.S. Securities and Exchange Commission and other regulatory agencies worldwide. Instead, it is an open forum or marketplace that operates according to pre-set and generally accepted rules, permitting the free exchange of digital assets between buying and selling parties. Transactions on OpenLedger are always auditable, stable, and user’s balances are always available in full. Our business is based on blockchain technology offered by Bitshares, and our code is fully open source and available for review by any interested person.
Holding OBITS entitles you to become a part owner of the bright future that lies ahead of OpenLedger. OBITS owners have an access to share in the profits accumulated by the organization. OBITS holders are also entitled to cast votes on key decisions made by the organization.
Although we believe that the market value of OBITS is less volatile compared to single-project crypto assets or tokens, OBITS remains a highly speculative investment in an early-stage technology venture. Investors in OBITS should familiarize and fully inform themselves about the facts before making any investment decision.
Unlike Bitcoin, we believe OBITS is less vulnerable to extreme volatility or the vagaries of the market, because its value is more correlated with overall participation and trading, and not the success or failure of any particular project. We welcome you to learn more about our platform and to participate in its growth.
This means that no single entity or individual, including the CEO, makes binding decisions regarding the organization or has access to all the funds. Your funds are well protected by being distributed on computers across the world, so that no hacker will be able to break into or cause damage to the exchange.
OpenLedger’s decentralized exchange generates revenues by charging fees for providing services such as exchanging cryptocurrency with fiat, depositing or withdrawing funds, trading, registering on the exchange and taking referrals, to name a few. These profits are distributed among OBITS owners. This key functionality makes OBITS stand out against other well-known first-generation cryptocurrencies such as bitcoin.
Bitcoin’s price is determined on the basis of the market’s consensus of its value, decided by what people will pay on exchanges worldwide at any point in time. It is therefore extremely volatile and prone to sharp rises and falls, whereas OBITS’ value is determined by the businesses involved and the ongoing development of these decentralized digital platforms.
OpenLedger runs its business with decisions that are enforced by code. As humans we are all susceptible to greed and other emotions. However, when key decisions such as profit splits are pre-encoded into the system, it results in complete and reliable delivery on promises and increased trust in the system. This can be cross-checked by any individual with the technical know-how thanks to the open-source code on which the system runs.
The exchange empowers retail consumers from around the globe to swap their fiat or digital currencies for cryptocurrencies, and thereby profit by taking a small percentage of each transfer, deposit, withdrawal or exchange. The profit is then sent out to anyone that holds OBITS tokens. This is one of the key differences between bitcoin and OBITS. While holding bitcoin gives you access to a digital token, verifiable on the blockchain yet susceptible to market conditions, OBITS is a system that brings consistent wealth in the form of profit splits from the organization.
All transactions made on the platform are verifiable on the blockchain, which is publicly accessible and auditable. Any user can therefore audit the profits generated and distributed by Open Ledger in real time. Full transparency, unlike conventional corporate and banking systems, help to ensure that stakeholders are treated fairly and are provided full information.
Other than transaction costs relating to the transfer of currencies (which is at a fraction of what the traditional banks levy), there are no additional costs or hidden fees. Transacting over the blockchain allows organizations such as ours to interact and operate in the financial realm with any account holder around the world without susceptibility to unreasonably burdensome fees imposed by the traditional corporate and banking systems.
Your voting rights are directly proportional to the amount of OBITS you hold. The larger the amount, the more influence you can exercise upon company decisions. Just like a real listed company depends upon its board for decisions, OBITS holders will be permitted to vote upon company decisions wherever it is deemed necessary.
Yes. Your voting rights are directly proportional to the amount of OBITS that you hold. Larger stakeholders naturally will have greater influence on certain decisions of the organization. If you are a token holder you may access our operating rules upon written request to email@example.com."
Unable to render embedded object: File (03a3bf2e-cf75-46f8-9713-994fbee22194) not found. OBITS will be bought back by Open Ledger using fees that it has generated from the Open Ledger platform. Regarding how Open Ledger generates its fees, a list of applicable revenue streams is stated on the OBITS website.
On March 2, 2016, 50,770 OBITS was bought back at prevailing prices for a total of 1,188,000 BTS and 1.1946 BTC, resulting in an average premium to the holders of 40.92%. The total supply of OBITS was reduced to 18,228,000 OBITS. Please refer back to our “Statistics” page for current information.
Special arrangements must be made in order to execute a large block purchase or sale of OBITS under applicable rules. Contact firstname.lastname@example.org for more information.
For all technical support issues you should contact the exchange or marketplace on which you placed your order. For Open Ledger technical support, contact email@example.com.