Oodlebit is a next-generation cryptocurrency exchange that will be releasing in 2019, launching in the United States to create brand new standards. While launching with unique advantages such as an increase in trading pairs, fair fees, powerful API’s, heightened security, charting tools and other trading implementations, Oodlebit has created a powerful token with real utility.
History of Utility Tokens
With the ICO boom, “utility” tokens have started exploding with brand new business models of raising funds, and a new entry for startups to enter the blockchain space. An increase in startups and projects certainly helps the innovation of cryptocurrency, however, the immense amount of purely crowdfunding tokens has brought the economy down. Many companies have launched on the blockchain without good development teams and have created tokens simply to use to crowdfund their business models and make themselves rich. Most of these projects have huge Team & Advisor funds that take away from the actual development of the project. So because of this, many projects have failed and burned through a lot of investor funds because the idea was not yet technologically feasible. These projects have jumped the gun and begun raising ICO funds before the project has even been developed, so these speculative utility tokens have caused a huge downtrend in the market as these projects have not been able to deliver the fantastic implementations they wrote about in a whitepaper.
Bringing Real Utility, Real Value
Oodlebit’s native token OODL will be a fully functioning token with real-world utility. These tokens will be used directly in the exchange via the voting, and trading process. 200,000,000 OODL tokens will ever be in circulation before buyback burning periods. 50% of the tokens created will be given out in affiliate programs and other reward campaigns. The other 50% of the tokens will be given to early investors and the founders.
10% of every net positive quarter will result in a buyback until 50,000,000 tokens are purchased. These tokens will be burned so that the total circulation of the token gets decreased over time. This will bring more value to the token as the demand for the token rises. These tokens have real utility in the fee reduction and voting privileges and so the demand for the token will be higher than traditional pairs.
Lock up Periods
Generally in ICO’s developers and founders are given tokens right after the ICO funding, which doesn’t leave many incentives to continue on the project. At Oodlebit the founders and investors are given a four-year lockup to incentivize the continued support of the exchange.
An important feature of OODL tokens are the voting rights that are given. Users are able to vote for the next coin to be added to the exchange platform. Traditional exchanges add whatever token is willing to pay the most for a listing fee, whereas Oodlebit believes in the users. This is one of many Oodlebit commitments to bring the power back into its users. A current poll is running and ends January 1st, 2019! The top 10 tokens will be added to the exchange so vote now.
By utilizing the OODL token, users will see a fee reduction of 50%. This gives a financial incentive to traders to use the OODL token, and become a part of the Oodlebit community.
Get in Touch
In an ongoing effort to expand and grow our exchange we are giving away 50 OODL coins with 60 days of free trading to the first 30,000 users. Visit https://www.oodlebit.com to learn more about our amazing offers.