OBITS is the digital token used to power the OpenLedger cryptocurrency trading platform. This trading platform is a Decentralized Autonomous Exchange, which means that its holdings, transactions, and balances are transparent and auditable. The open-source OpenLedger code, powered by Bitshares technologies, creates an easy-to-use exchange for users. OBITS serve as a share in the OpenLedger platform, allowing investors to profit together with OpenLedger and also participate in decision making. Using OBITS, companies can invest in each other’s successes through cross-promotion. The exchange buys back OBITS every month and “burns” it to deflate its supply and increase its value.
OBITS (OBITS) represents a share in the OpenLedger exchange, with investors receiving a share of the company’s profits and being able to vote on proposals and decisions.