CCEDK, the Danish crypto-exchange has launched a new product, its own currency. The new digital currency, named Obits is created specifically for one purpose — a continued rewards program for its holders.

In a recent press release, the company claims that the holders of its new Obits tokens will be eligible for a stake in the company’s current and future revenues. The new crypto-token’s launch was announced by the CCEDK’s CEO Ronny Boesing. Obits will be the digital equivalent of CCEDK’s shares, and a total number of 18,276,898 Obits will soon be going up for sale from December 1.

CCEDK will be hosting Obits on OpenLedger, a decentralized financial system operated jointly by CCEDK and Cryptonomex. OpenLedger also happens to be the de facto platform for BitShares 2.0 as well. OpenLedger is developed on Graphene toolkit by the same people who created the toolkit in the first place.

The OpenLedger powered Obits tokens are similar to bitcoin and other cryptocurrencies on many levels. However, transactions on OpenLedger happens instantaneously unlike the bitcoin blockchain which takes roughly about 20-30 minutes these days. Obits can also be transacted between two parties, and by doing so the Obits holder will be transferring any rights associated with the token as well.

The rewards to be received by Obits holders is dependent upon different revenue streams of CCEDK. These revenue streams include commissions on trading, withdrawal fees, referrals etc. However, according to the press release the revenue streams are not limited as the company has plans to include a lot of different elements including multiple fiat payment gateways, PayPal, Ripple, Nanocard etc. While the Obits are slated to go on sale from December 1st, those who are in a hurry to lay their hands on it may still be able to do so by buying from the presale quota which happens to be 20 percent of all the Obits under the discretion of the CEO Ronny Boesing.

We will wait till December to find out the customers’ reaction to Obit.

READ MORE: ShareBits.io Makes Crypto-Tech for Everyone

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