CCEDK Launch OBITS on OpenLedger – Your own revenue-generating DEX! 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 hosted on
OpenLedger, a decentralised financial platform – in fact, the de facto BitShares 2.0 platform, run in cooperation with CCEDK and blockchain experts Cryptonomex, 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.
Buy OBITS and share in OpenLedger’s profits
Would you like to earn money from the 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!
That’s what OBITS is all about
With OBITS you can profit from all the transactions carried out on an up-and-coming cryptocurrency exchange. Buying OBITS is the equivalent of buying a stake in our exchange’s 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 features.
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:
Stage 1: OBITS sales
Private pre-sale and public offering
Up to 30 November 2015 OBITS can be purchased directly from the founder, receiving funds straight from the original OBITS ‘Genesis’ account. On 1 December public trading will officially open, and large amounts will be made available on different exchanges at market price.
Pre-sales prices are lower than the current market price, and significantly lower than the price will be to the general public.
Stage 2: OBITS buy-back
OBITS will be bought back at market price using 100% of fees generated from the OpenLedger Exchange Network. A list of applicable fees are mentioned on OBITS website, with more information to be added in due course.
Example #1. Alice places a sell order for 1 OBITS at 30 BTS. Her sell order is the cheapest on buy-back day, so CCEDK 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.
How Many OBITS Should I Buy?
Profit is distributed via our buy-back programme, meaning that every month we ‘buy back’ a number of those tokens based on our profits. This represents a flexible way of returning money to OBITS holders. You can buy or sell OBITS on OpenLedger at any time. The longer you hold your OBITS, the higher the chance you will have to make a good return.
To answer the question of how many OBITS you should buy, a better question would be, How much of OpenLedger’s profits do you want to share?
First buy-back planned for 1 February, 2016
20% of the total supply of OBITS will available for pre-sale and a further 50% will be offered on 1 December at public launch, making 70% available at this stage. If all 70% is sold by the end of December 2015, the first buy-back will take place on 2 January 2016. Otherwise, the buy-back will take place on 1 February 2016, regardless of how much has been sold at this point of time.
Profits included in the first buy-back will include income generated since the launch of platform, covering a period of time from 13 October 2015 up to the day of buy-back, and will also include profits from referral income to OpenLedger (a total of 80% including transaction fees, with the remaining 20% being network fees).
It will also include profits from trading, deposit and withdrawal fees, as well as anything else that can be considered profits generated from the platform where registrar OpenLedger (aka CCEDK) is involved.
The first buy-back – one to watch
It is likely that the first buy-back will be the most important and possibly the largest. Funds obtained from private and public sales will be used proactively for marketing and development of the OpenLedger platform to make constant improvements, with the intention of making it the Number 1 choice of trading platform for users worldwide. A growing interest in OpenLedger will increase overall fees generated on the platform, indirectly supporting a healthy increase in OBITS’ valuation. 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.
The ultimate aim is to make OpenLedger – and therefore also OBITS – a product worthy of long-term investment, naturally increasing in value due to progressive improvements in the platform, thereby benefiting users as well as OBITS holders.
Buy-back options: BTS and BTC
A large amount of fees are generated in BitShares (BTS). In order to accommodate the interests of outside parties, as well as reflecting the fact that a certain amount of trading on OpenLedger is also conducted in bitcoin, as an extra incentive the buy-back will be split between BTS (90%) and BTC (10%).
How do I buy OBITS?
Pre-sale until November 30th 2015
1. Ask for today’s rate by emailing ronny
@ccedk.com, or create an order request on the OBITS website
2. Send your order in BTS, OPENBTC or OPENLTC to account ccedkbts, making sure to write buy OBITS in the memo
3. For BTC orders, send funds to 17FuUu5Dy4fUumidhNWJhX6KVktSi9YHhp and send an email to CCEDK using the above address, including the tx id and your BTS address for receipt
4. Your order will be sent from the OBITS account named OBITS to the sender address (BTS) or address otherwise specified
5. It is possible to buy OBITS presale with Bitcoin (BTC),
BitShares (BTS), Litecoin (LTC), Peercoin (PPC), DASH, DOGE, NuBits – always a dollar (NBT) and Etherum (ETH) and the fiat currencies EUR, USD, CNY. If you want to buy in any of these currencies ask for details and address of payment.
Public sale: 1 December 2015
1. Visit the OBITS website to find out which exchanges offers OBITS tokens
2. Use these exchanges to buy from sell orders created on OBITS markets, including BTC/OBITS, OBITS/BTS, other cryptocurrencies and 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-obitsArticle from Forbes published Nov. 19th
http://www.forbes.com/sites/rogeraitken/2015/11/19/bitcoin-crypto-exchange-launches-obits-currency-offering-stake-in-revenues/http://www.coinfox.info/news/3731-openledger-introduces-obit-token-to-share-the-company-s-profitshttp://allcoinsnews.com/2015/11/16/bitshares-based-openledger-to-launch-token-representing-exchange-profits/http://8btc.com/thread-25604-1-1.htmlhttp://mp.weixin.qq.com/s?__biz=MzAxNTIwNTEwMQ==&mid=400522245&idx=1&sn=2aa1893639d339e926133bb7874c5e08#rd
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OBITS market OpenLedger at launch with created sell wall: From launch day December 1st it will be possible to buy and sell OBITS on OpenLedger in following markets - BTS_OBITS already active, OBITS_OPENMUSE, OBITS_OPENBTC, OBITS_BTC, OBITS_OPENLTC, OBITS_PPC, OBITS_DASH, OBITS_DOGE, OBITS_CNY, OBITS_USD, OBITS_EUR, OBITS_NBT
