- OBX REBUY AND BURNING MECHANISM.
- OBX MIGRATION TO ITS OWN BLOCKCHAIN.
- OBX DIVIDEND SYSTEM, GAMING CENTER.
We glad to bring you this newsletter and also to share our development update to our beloved community members, investors and supporters. Indeed we can't achieve all this without your support as the foundation of our success, we aim to wax stronger and more stronger, our dream is to create that desirable future we planned ahead with you our beloved investors.
The OOOBTC has been a strong foundation in the crypto space since 2017, we have survived various attacks with no loss of data or fund. Even in the time of crypto exchange hacking, we have witnessed so many crypto exchange been hacked but due to the strong security on the OOOBTC exchange we are rated as one of the top exchange in security.
- OBX REBUY PLAN AND BURNING MECHANISM
The OOOBTC Exchange team will take into consideration a rebuy plan and burning mechanism of OBX token, this is to reduce the total supply of 0BX Token from 3,000,000,000 to 2,000,000,000 before moving from etheruem blockchain to our own blockchain called OBXCHAIN.
We will perform a periodic coin burning in order to reduce the total supply of OBX.
The OBX burning events are scheduled to take place every quarter until 1,000,000,000 OBX are finally destroyed, which represents 33.3% of the total supply of OBX.
The burn process will include rebuy plan, the OOOBTC team will rebuy OBX token from community members through exchanges and send them to the OX.... Contract to be totally destroyed.
The rebuy fund will be generated from this following revenues,
- 10% of listing fees collected from project.
- 30% of trading fees charges from traders
- 60% of OBX collected from voters.
- OBX contributions from community members.
Benefit of OBX Token Burning
The two major important of coin burning are;
Increase In Value of Coins :- In order to understand this, we need to understand the basic economic laws of demand and supply. Scarcity is a central economic concept that gives value to a particular asset and in this case, cryptocurrency. Unlike fiat currencies, cryptocurrencies are deflationary in nature. If the OOOBTC team purchase 500 million OBX from it community members for coin burning, this will reduce the total supply of OBX from 3 billion to 2.5 billion causing the available token in the market limited and forcing a massive increase in price of OBX and not just increasing the values but as well increasing the Damand and reducing the supply of OBX.
Sign of Long-Term Commitment :- Coin burning is an effective tool to signal a firm commitment by a cryptocurrency project. The goal of any project is to add significant value to coin holders, who will probably be the core users and supporters of their service. Employing a coin burning mechanism to burn excess tokens supply or provide periodic burning schedules (by buying back tokens from the open market using generated profits and thereafter burning them) would go a long way in reinforcing the project’s growth prospect. The amount of OBX to be burned is based on the number of trades and revenue generated on the exchange within a 3-months period.
- OBX MIGRATION TO ITS OWN BLOCKCHAIN. (From Q4 2019)
The launch of OBX has brought adoption and we are committed to the development of obx as the driver of our exchange, obx will soon leave ethereum blockchain to its own blockchain and holders and support will be able to benefit from OBX masternode and POS (proof of stake). Let take you through the benefit of masternode and pos.
1√ POS (Proof Of Stake)
Wallets (nodes) are rewarded for the coins within that contributes to block creation and verification (network validation), holders will be able to earn rewards as proof of stake.
- Fair decision making done not based on mining hash, but on coin shares
- Prevents centralization through mining hash power
- Economical and environmental with no energy waste Provides fair reward based on ownership of coins
Masternode is a special form of node (that normally verifies transactions on the network). What sets masternode apart is its governance and voting rights as well as increased transaction privacy and instant transactions, but perhaps the most known benefits of a masternode is that some of the block reward is granted to the owners of masternode. By setting aside a set number of a coin on a masternode, an investor can get a stable reward much like how interest is given at banks. In summary, masternode can allow stable increase of asset in a certain cryptocurrency.
OBX will not only migrate to Masternode and POS blockchain but the total supply of OBX will totally reduced from 3 billion to 100 million plus, this is to say that only 3.3% of OBX total supply will exist after OBX has migrate to its blockchain. The migration is expected to start Q4 2019 as we are already on the lab for it.
AFter the migration, we will create more usecase for OBX such as
- purchasing IEO's using OBX
- paying 50% trading fees using OBX
- Use of OBX on our partners stores.
- launch of OBX market and more.
- OBX DIVIDEND SYSTEM, GAMING CENTER.
The OOOBTC Exchange will start dividend system and gaming center as stated on the whitepaper, this dividends system will enable members earn rewards for trading OBX either on the OBX market or on any of our listed market, this will encourage more trading of obx, OBX will pay rewards as follows dividends, POS and Masternode rewards. The dividend system will start Q4 2019 from OBX erc20 token and will continue even after we migrate as POS and masternode coin. Members will be able to play games on our gaming center to compete for rewards, win free lottery and earn incentive reward paid on OBX, BTC, ETH, USDT or any other coins based on the game he played.
The OOOBTC Exchange Team