Decetnralized digital asset exchange and conglomerate OpenLedger annonced today the distribution of OBITS warrants to all OpenLedger project supporters has been finalized.
There are reportedly 975,000 OBITS warrants left, which will be offered to all taking part in an auction to end 9:00AM Pacific Time on June 25th 2017.
All amounts received will be used to buy back and burn OBITS as part of distribution on July 2nd 2017. For the OBITS token, this may well turn out to be the biggest buyback event to date.
OpenLedger is approaching the 50,000 signed-up users milestone, once hit OpenLedger will sharedrop on all users holding a minimum of 1000 QBITS assets, or OBITS in general, the equivalent of 1 QORA to celebrate QORA Gold being part of the OpenLedger monthly revenue distribution.
The 975,000 OBITS warants will be dropped proportionally to all contributors sending only bitUSD.
OBITS warrant 2017
Every OBITS warrant gives users the right to convert to not publicly released OBITS tokens. On January, 1st 2018 these OBITS warrants will then be invalid. Conversion rate: 1 OBITS Warrant + 0,16 BitUSD = 1 OBITS token.
OBITS warrants are offered as part of certain ICO’s presented by OpenLedger as a bonus offer. The % of paid amount at the moment 10% will be used to buy OBITS warrants on the market and then burn existing OBITS tokens.
Information on redeeming OBITS warrants at the fixed price of bitUSD 0.16 can be seen here.