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OpenLedger – Your own DEX Sharing It’s Profit With You!
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Danish Bitcoin and cryptocurrency exchange CCEDK is launching Obits: a currency that offers holders a share in current and future revenue streams
Life moves fast in crypto world. New developments happen on a near-daily basis, markets move with supercharged volatility and coins, communities and businesses rise and fall in a relative heartbeat. There’s too much to track, no way of assimilating all of the information and no straightforward means of profiting from the promising initiatives that are often buried alongside the scams, clones and dross that still clutter the ecosystem.
That’s an issue that Danish exchange CCEDK wants to address with the launch of a new currency called Obits
Buybacks and burning of purchased tokens means the remainder will be worth more over time
OpenLedger – host, wallet, exchange & vault
Obits has been created as a token on OpenLedger, which is a decentralized financial platform - in fact, the de facto BitShares 2.0 platform, run in cooperation with CCEDK, blockchain experts Cryptonomex and their developers of the Graphene toolkit, upon which the platform is powered.
OpenLedger has been described as a revolutionary fintech platform, with high capacity and low latency suitable for the demands of modern-day trading. The idea is that OpenLedger gives users the complete control over their balances that blockchain technology allows, but also the super-fast experience necessary for closing a profitable trade.
As a key strand of what exchange owner Ronny Boesing hopes will prove a catalyst for a new kind of sharing economy, Obits will allow holders to benefit from the fees garnered from trading and referrals on the OpenLedger platform.
More than this, though, it represents a share of revenues generated by future initiatives that will be added by CCEDK, including fiat gateways, Ripple, PayPal and NanoCard integration, and much more besides.
Get Obits and Share The Profits From OpenLedger
Would you like to earn from the highly volatile cryptocurrency market without having to become a highly skilled trader? Imagine making a few pennies on every transaction made on an exchange…without having to deal with all the hassles of operating one!
This is what OBITS is about!
With OBITS you can profit on all transactions of an up and coming cryptocurrency exchange. Buying OBITS is the equivalent of buying stakes in our exchange business. Not only will you share the profits but you will also have a say in the future development of OpenLedger via our exclusive voting feature.
Profit Distribution
How are you going to profit and how does it work? OpenLedger is powered by an automatic referral system baked in the system. Just like every business we have revenue and expenses, here is the breakdown:
A 2-stage system of making profits for OBITS investors (holders) is how the future return on investment is presented on the OBITS website
First stage - is OBITS Sell
pre-sale (private sale) and public sale.
Up until Dec 1st it is possible to buy OBITS directly from source receiving funds straight from “obits” account. On December 1st, public trading will be officially open, and big amounts will be made available on different exchanges on the base of sell-orders.
Private-stage price up until launch is lower than current market price, and much lower than inital public price.
Second stage - is OBITS buyback.
We will buy back the OBITS at market value on the base of 100% of generated fees from the OpenLedger Exchange Network. A list of these included profits from fees are mentioned elsewhere, and more to be added.
Example: If you decide to place your sell order at price 1 OBITS = 30 BTS, and your sell offer is the cheapest on buyback-day, we must buy your 1 OBITS for 30 BTS on the base of obtained profits.
Furthermore, bought-back OBITS will be burned (permanently deleted). This action will increase price of OBITS natively.
Another example and perhaps more clear: You have bought 100% of OBITS at totally 15 BTS/OBITS. You decide to sell 10% of this amount on the day of buyback at the price of 150 BTS. According to set rules, all orders are bought back on the base of generated profits, and in this example you stand to keep 90% of your initial buy order of OBITS and to cover your initial cost of 15 at the same time.
How Many OBITS Should I Buy?
Profit is distributed via our Share Buyback Program which mean that every month we “buy back” a part of those shares based on profits. It represents a more flexible way of returning money to the owners of OBITS. You can buy or sell OBITS on OpenLedger at any time. The longer you hold your OBITS to higher the chance you have to make a good return.
How many OBITS should you buy? The better question is, how much do you really want to own a share of the profit of OpenLedger?
First month of BUYBACK planned for February 1st 2016.
50% of total supply of OBITS is offered on Dec. 1st at public launch, making 70% available at this point of time. If all 70% has been sold in December 2015, first month of buyback will be January 2nd, otherwise first month of buyback will take place February 1st, no matter how much has been sold at this point of time.
Profits included in buyback this first time will cover income generated from since launch of platform, meaning October 13th 2015 and up until the day of buyback, and will include the profits from referral income of OpenLedger as registrar with a total of 80% incl. transaction fees, remaining 20% are network fees.
It will include as well the profits from fees when it comes to trading fees, deposit and withdrawal fees, as well as anything else that can be considered profits generated from platform where registrar OpenLedger aka CCEDK is involved.
Buyback this first time will be a big one.
It seems buyback this first time will be the most important and perhaps the most massive. Fund obtained from private and public sales will be used proactively for active marketing and development of OpenLedger in order to be constantly making improvement to make it the no. 1 choice of trading platform for all users worldwide. An increasing interest for OpenLedger will increase the overall fees generated on platform and this way become an indirect support of a healthy increase of OBITS valuation.
In case of no sell orders at the time of the monthly buyback, any amount not spent will enter into the amount offered for buyback in the following month and so forth.
It is the aim to make OpenLedger and therefore also OBITS a product worth the while of anyone interested in projects with development and natural increase of value through progressive improvements to the benefit of all users of OpenLedger as well as holders of OBITS.
BUYBACK on the base of BTS and BTC
A large amount of fees are generated on the base of BitShares (bts). In order to accomodate the interests of outside parties as well as the fact of an increasing amount of trading is done on the base of Bitcoin on Openledger as well, it has been found to be an extra incentive to split the buyback into 90% of it to be BitShares and the remaining 10% to be paid in Bitcoin.
How do I buy OBITS?
Pre-sale until Novembr 30th 2015:
- Ask for today’s rate on ronny[member=23432]ccedk[/member].com or create order request on OBITS website
- Send your order in BTS or OPENBTC or OPENLTC to account named ccedkbts, and in memo you write buy OBITS
- Send your order in BTC to address: 17FuUu5Dy4fUumidhNWJhX6KVktSi9YHhp and inform about it in above e-mail with amount sent and copy of tx id.
- Your order will be sent from OBITS account named obits to sender, unless otherwise specified.
- Other currencies like Litecoin(LTC) and Nubits(NBT) also accepted upon request!
Public sale starts December 1st, 2015
- Go to OBITS website to find which exchange offers OBITS, and go there to buy from sell orders created on markets concerning OBITS, whether BTC/OBITS, OBITS/BTS, other or any fiat pairs.
Media coverage:
This article from Bitscan available in following languages on Bitsharestalk, Bitcointalk an Bitcoingarden:
English, French, Greek, Italian, Spanish, Slovenian, Indonesian, Portuguese, Chinese, and more coming:
https://bitscan.com/articles/a-token-of-appreciation-openledger-launches-obits
Article from Forbes published Nov. 19th
http://www.coinfox.info/news/3731-openledger-introduces-obit-token-to-share-the-company-s-profits
http://allcoinsnews.com/2015/11/16/bitshares-based-openledger-to-launch-token-representing-exchange-profits/
http://8btc.com/thread-25604-1-1.html