“Everything you can imagine is real.” — Pablo Picasso
It has been 18 months since we first imagined the creation of a digital asset for the BitOrb Exchange.
In those times (2018) of fear and uncertainty about initial coin offerings, we only wanted to create a token that made sense and actually represented a value for investors and traders alike. We came up with the Orbyt Token… and this digital asset is L.I.T !
The idea makes sense: Hodl for profit share paid out in Bitcoin, and gain from discounts & commissions too!
To ensure security and transparency, we had the Tomochain dev team (Orbyt Tokens are issued on this blockchain) to create the smart contract, and we engaged Quantstamp to carry out the smart contract audit. More information on tokenomics to be released this week in a special deck!
An easy way to understand how the Orbyt Token works is to think of it like a share on the stock market. There are distinct differences and advantages:
Now that the primary sale of the token has been completed, the Orbyt Token will be publicly available very soon to purchase through the secondary market. This secondary market is when buyers are no longer purchasing the tokens from the issuer, ie BitOrb, but from a participating exchange that lists the Orbyt Token for the masses.
To begin with, Orbyt Tokens will be listed on one exchange. To be announced very soon!
Token valuation on the secondary market is based on free market supply and demand forces. Its value is also linked to the performance of the BitOrb Exchange, since there is profit share. Capital gains (or losses) may be made if a trader wishes to trade Orbyt Tokens on the secondary market exchange.
Token holders may benefit from profit share if they pass Know-Your-Customer checks on BitOrb and hold a minimum of 100 Orbyt Tokens. A profit declaration date will be announced only when there is profit share to be paid out. As you can imagine, we’re all looking forward to the listing coming very soon!
The Orbyt Token makes sense.