OBITS Announces First Buyback, Dividend Option and Fiat Gateway on OpenLedger

By January 19, 2016Bitcoin Business

Cryptocurrency OBITS has called to end its crowdsale with the introduction of its first buyback, a dividend option and a new fiat gateway on OpenLedger , a decentralized trading platform based on BitShares 2.0 .

The crowdsale, according to OBITS issuer and market maker CCEDK , has managed to raise more than 700 BTC — equivalent to $270,000 — before conclusion. The Danish decentralized cryptocurrency exchange now plans to move ahead with OBITS’ first buyback program, which will take place on February 2nd this year. The new profits “will be used for market-making and to add value to the end users of the OpenLedger platform,” whilst the aforementioned crowdsale amount has already been spent on project development and improving users’ experience.

“OBITS as a currency and a market maker is really making waves,” said founder and CEO Ronny Boesing in a press statement. “We have come to the conclusion that the best possible value of OBITS is based on putting a HOLD on selling any remaining supply from our side, starting from the time of first buyback.”

He added that with new projects, they will also be limiting amount of the remaining OBITS for sale, making sure they constantly add new value to the overall portfolio the cryptocurrency represents.

“We believe that the first and possibly only buyback, which will take place early in February, will confirm OBITS holders in their belief that OBITS is a currency with great potential.’ The first new project is expected in the middle of February, at which point a proportion of the remaining OBITS will be sold.”

CCEDK has hinted that this would be their last buyback, citing how they are anticipating to practice a voting round on a dividend option. Interestingly, the exchange carried out an arguably experimental buyback on January 16th, whereby 2 Bitcoins in the […]

Leave a Reply

All Today's Crypto News In One Place