I like profit sharing exchanges and after COSS and BCO, OBITS is one more token that I have bought recently.
What is OBITS?
OBITS is native token of Openledger DEX.
OBITS tokens are hosted on OpenLedger, one of the world’s first truly Decentralized Autonomous Exchanges.
The business of Openledger is based on blockchain technology offered by Bitshares and its code is fully open source for anyone who wants to look further.
OpenLedger runs its business enforced by code. All decisions at Openledger and OBITS as it's native token, such as profit sharing are pre-encoded into the system.
As OBITS holder you have right to vote for some future changes in OBITS.
Your voting rights are directly proportional to the amount of OBITS you hold. The larger the amount, the more influence you can have upon company decisions.
Current supply of OBITS is 15,674,600 and every month is less and less tokens because half of profit for distribution is used for burning OBITS tokens.
Until today 2,602,298 OBITS were burned.
With burning every month your holding percentage out of total tokens becomes larger. I really like this burning idea.
This video is from obits.io website:
Other half of profit from distribution is payed in bitUSD, Bitshares stable coin that follow USD price.
When profit distribution have started, profit was shared in small pieces of coins that were traded, like most of profit sharing exchanges like Kucoin, COSS and CryptoBridge, but OBITS users have voted and changed this into bitUSD.
I like this type of sharing and it is easier to use this profit and buy something else or convert bitUSD to cash than selling small pieces of many cryptos to cash out.
Receiving small pieces of many cryptos give you chance that some of this coins skyrocket and your profit will rise exponentially but it is harder to sell all and cash out.
This is why I have invested in COSS, BCO and OBITS, each of them have some advantages. Smarter investors than me says that never keep all eggs in one basket...
Nice thing with OBITS is that you don't get only share of profit from Openledger DEX, you get piece of profit from any other business connected with Openledger organisation.
There were and there will be many ICO's that you as OBITS holder will get part of profit from, there will be OCASH crypto card that will also generate profit for OBITS and many other interesting projects.
Founder and creator of Openledger and OBITS is Ronny Boesing, well known name in crypto world and one of Bitcoin pioneers.
I have reached him on Telegram and ask him some questions about investing in OBITS and he answered me same day and he has great friendly approach to me, some unknown guy to him who asked him some questions. Usually those kind of persons(CEO,Founder,etc..) doesn't answer on questions from some ordinary people and I was really pleasantly surprised with him.
Openledger and OBITS are registered in Denmark and they follow all EU laws.
I think that OBITS is a token with a great future for patient people with long term goal.
With OBITS I will conclude with writing about and investing in profit sharing exchanges (three is enough :-))
This is not investment advice, it is only my opinion and if you like OBITS, please do your own research.