If you have never heard of OBITS before, here is the tagline from OpenLedger, the issuer of the OBITS token.
Holding OBITS entitles you to become a part owner of the bright future that lies ahead of OpenLedger. OBITS owners have an access to share in the profits issued by the organization. Just like a real life business, you will also be entitled to cast votes on key decisions made by the issuer. Buying OBITS is the equivalent of buying an early stake in a ground-breaking technology company.
All holders of OBITS should have received a message today in their Open Ledger accounts, along with a free gift of 1 BTS. The message contained a username/password in order to cast a vote on an important matter.
The two matters that OBITS holders are voting on is what to with profits and how to perform buybacks. Currently, OBITS are bought back and burned (destroyed), which should have the effect of raising the price of the underlying asset.
Two additional options are being discussed.
Sharedrop: All profits from OpenLedger will be dropped proportionately to OBITS holders, 90% in BTS and 10% in BTC.
Hybrid: 50% of profits will be used in a sharedrop, while 50% will be used to buyback tokens.
As of publication, the hybrid model was the clear winner.
You can check on how the vote is proceeding at obits.io/vote. Voting will be open until August 1st.