how does it work?
Users who hold min 100 ORBYT Tokens and stake their tokens via registering their wallet on the exchange are eligible to a share of the company’s after tax profit.
The profit share is paid out in Bitcoin (BTC).
The more tokens are held, the more rewards the user will receive.
- ORBYT TOKEN T&Cs
Terms and Conditions
Orbyt tokens provide you with a right to receive, as and when profits are declared by the board of directors of the Holding Company (Holdco) of the Exchange Entity, 20% of the profits legally available for distribution by the HoldCo after provision of working capital and total expenses and making such transfers to reserves, as the board of directors of the HoldCo determines in its sole and absolute discretion, (“Profit Share”) subject to the following:
A. The Profit Share shall be distributed to the Staking Members (as at the time the profits are declared by the board of directors of the HoldCo) pro rata (fractional entitlements being rounded to the nearest whole number) based on the amount of Tokens that each of them hold relative to the total number of Tokens held by all Staking Members (as at the time the profits are declared by the board of directors of the HoldCo);
B. Staking members are BitOrb Exchange users with registered ORBYT wallets of 100 $ORBYT or more.
C. Exchange Entity shall have the sole and absolute discretion to determine whether to distribute the Profit Share to the Staking Members in cash and/or in kind and the mechanism for distribution;
D. Exchange Entity shall not be liable to any Staking Member who fails to receive its share of the Profit Share if such failure is due to the non-cooperation of such Staking Member;
E. Payments, amounts and timings of the Profit Share shall be subject to Applicable Laws and the HoldCo obtaining all necessary approvals, consents, waivers, authorisations or clearances required, including, where relevant, those from its board of directors, shareholders and regulatory and governmental authorities;
F. Nothing shall be construed as imposing on Exchange Entity any obligations (whether express or implied) to distribute the Profit Share at a specific date and time, provided that the Issuer shall use its reasonable endeavours to procure that the Profit Share is distributed as soon as practicable after the declaration of profits by the board of directors of the HoldCo referred to above.
There are three ways to store your ORBYT tokens: TomoWallet, MyEtherWallet or Ledger