A token of appreciation: OpenLedger launches Obits

Thursday 19 November 2015

Danish exchange CCEDK is launching Obits: a currency that offers holders a share in current and future revenue streams.

Life moves fast in cryptoworld. 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.

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Buybacks and burning of purchased tokens means the remainder will be worth more over time

That’s an issue that Danish exchange CCEDK wants to address with the launch of a new currency called Obits.

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 the 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.

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‘Obits is based on the fees of an array of profit centres from within OpenLedger and its many opportunities made available with the de facto BitShares 2.0 decentralized trading platform. It is a token full of great stuff, only rising in value, and every one of them are bits & pieces of what OpenLedger is all about - a share of the future,’ Boesing comments. The hope is that Obits will allow ordinary internet users to benefit from the myriad of crypto projects available, as well as the signature volatility that more often puts off newcomers.

Obits pre-launch

Obits will go on public sale on December 1, with some 20% of the total supply being available for pre-sale. All pre-sale inquiries, orders and requests are being managed personally by CCEDK and OpenLedger CEO Ronny Boesing, who can be contacted at ronny@ccedk.com. It is possible to buy OBITS at the pre-sale with bitcoin (BTC), BitShares (BTS), Litecoin (LTC), Peercoin (PPC), DASH, DOGE, NuBits (NBT) – always a dollar – and Etherum (ETH) and the fiat currencies EUR, USD, CNY.

Once purchased, tokens will be hosted on OpenLedger. As a Decentralised Autonomous Exchange, holdings are always auditable and balances are always available in full (unlike banks that operate on a fractional reserve system). Ultimately, the value of Obits will depend on the levels of activity within the OpenLedger and CCEDK systems, rather than being driven by speculation, as so many other cryptocurrencies are.

Not only this, but owners will be treated like traditional shareholders, being able to vote and take part in decision-making processes. Influence will be directly proportional to the amount of Obits held.

Regular buy-backs on the first day of every month, funded by the exchange’s profits, will provide liquidity for those who want to cash out. These tokens will be burned, reducing the supply of remaining Obits and increasing their value. ‘You could say that the ones sitting back at the end with the last available tokens will be sitting on a goldmine!’ says Boesing. Although this feature will always be offered, it will only be of particular relevance in the early stages; as a decentralised token, Obits will of course trade on a peer-to-peer basis on OpenLedger, just like any other cryptocurrency. All profits will be verifiable, since they will be visible to all on the blockchain.

For more information, visit obits.io/news.

This article was sponsored by Ronny Boesing and CCEDK.


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