OpenLedger is powered by an automatic referral system built into the platform. Just like every business, we have revenues and expenses. OBITS investors will benefit via a two-stage process:
Already taken place up to 30 November 2015, OBITS was possible to be purchased directly from the founder, receiving funds straight from the original OBITS ‘Genesis’ account. On 1 December public trading was officially declared open, and large amounts has been made available on different exchanges at market price.
Pre-sales prices were lower than the current market price, and significantly lower than the price offered to the general public.
OBITS was bought back first time February 2nd 2016 at market price on OBITS markets BTS and OPEN.BTC and then burned, which means bought back amount of OBITS 49 800 was removed permanently from total available supply.
Example #1. Alice places a sell order for 1 OBITS at 30 BTS. Her sell order is the cheapest on buy-back day, so OpenLedger ApS will buy Alice’s 1 OBITS for 30 BTS on the base of obtained profits. Furthermore, any OBITS tokens bought in this way using OpenLedger profits will be burned (destroyed), thereby increasing the price of remaining OBITS tokens.
Example #2. Bob has bought 100 OBITS for 15 BTS/OBITS (total 1,500 BTS). He decides to sell 10% of his holdings on buy-back day at the price of 150 BTS/OBITS (total 1,500 BTS). According to the given rules, all orders are bought back on the basis of generated profits. In this example, if Bob’s sell order is met, he stands to keep 90% of his initial OBITS holdings, fully paying for the original cost of the remaining tokens.
*All prices in USD are converted to the equivalent to BTS on a buyback day. In the above mentioned case, someone who had initially spent $100 on OBITS would receive more than $225 ($125 of profit) in just 3 months in case they decided to cash out taking part in the buyback.
It means, that 'Bob', having spent 100$ at the very beginning of introduction of OBITS, could have reached more than 225$ (125$ of clean profits) in just 3 months.
These are real statistics and the results of the FIRST buy-back.
A growing interest in OpenLedger will increase overall fees generated on the platform, indirectly supporting a healthy increase in OBITS’ valuation.
NB! If there are no sell orders at the time of the monthly buy-back, any unspent revenues will be held and included in the buy-back the following month, and so on.