What is OpenLedger
OpenLedger DC is what they describe a Decentralized Conglomerate hosting a number of projects. OpenLedger DC itself and its projects seem to be based on BitShares platform. The most well-known is OpenLedger.io, also named OpenLedger DEX (Decentalized Exchange), a blockchain based cryptocurrency exchange platform. The company behind OpenLedger is a Danish company called CCMDK started in March 2014.
What is OBITS
OBITS is a token giving it's holder a share of profits made by OpenLedger DC. So profits coming from OpenLedger.io exchange and the other projects will be shared with holders of OBITS. It's a dividend partly in the form of buyback and burn and partly a dividend in bitUSD. The buyback, burn and dividend happens on the 2nd of every month.
Last buyback (2nd of September) one OBITS gave 0.002867292 bitUSD and I'm still unsure how many OBITS where burned, it does not say on their website.
Initially there were 18 276 898 OBITS and so far 2 424 998 has been burned and current supply is 15 851 900.
Current Price: $0.79
Market Cap: 12.5 MUSD
Currently one OBITS is around $0.79, making up a market cap of 12.5 MUSD. Lets say that dividend is $0.003 every month, that'll be 12 x 0.003 = $0.036 in a year which is a yearly dividend of around 5%, add to that the buyback which will decrease the supply of OBITS and hence increase the dividend per OBITS. In addition to that a decreased supply should increase price of OBITS if the demand is the same.
They also say on their site that "It is expected with new fee structure, that a monthly payment structure in the form of sharedropping of 90% BTS and 10% OPEN.BTC will replace the buyback structure." so expect some changes in dividend.
OpenLedgers profits comes mainly from trading and withdrawal fees on OpenLedger DEX.
OBITS is traded on OpenLedger.io and LiveCoin.net. Looking at OpenLedger.io one can see that OBITS have traded as high as $5.
When looking at the other projects in OpenLedger DC some of them focus on advertising. The advertising projects are too fuzzy for me to get a grasp of. There is also a project called GetGame.io which is a project for funding game development. They claim to be behind an augmented reallity game called DinoMess. I found an internal site that indicates that they where involved in some way.
There is also one project on ICOs called ICOO. As they say on their site: "No longer will investors have to scour the web to find information about the hottest crowdsale ICOO will be your ticket to all the most promising ICOs all in one place. With ICOO you’ll never miss the boat again." I doubt that they can keep the promise that you will never miss a boat again if investing in this project, that's a rediculus statement.
OpenLedger.io is a working exchange with a decent trading volume. That alone makes me believe that OBITS could be a good investment. Of course totally depending in the cryptocurrency market. The other projects in the OpenLedger DC ecosystem does not look that promising, but I know too little about the advertising market to judge those projects.