OBT is a utility token integral to Oobit’s mission of making crypto payments as accessible as everyday spending.
Launched in 2017, Oobit introduces transformative technology for crypto payments, allowing users to seamlessly Tap & Pay with crypto at over 100 million global locations accepting Visa and Mastercard, with no additional setup required from merchants Oobit also empowers crypto users to send funds peer-to-peer, facilitating both local and international transfers using just a phone number—instantly and free of charge.
To support the Oobit ecosystem, OBT is designed as a flexible asset. By fueling Oobit’s offerings, OBT advances Oobit’s goal to make Web3 technology accessible for everyday payments, spanning retail purchases to cross-border transfers.
OBT supports a unique ecosystem of blockchain-based payment solutions through Oobit, designed to make crypto as practical for everyday transactions as traditional currencies. With Oobit’s growing presence and its pioneering Tap & Pay solution, OBT enables users to experience crypto payments in real-world settings worldwide, at any store accepting Visa and Mastercard.
One of OBT’s standout features is its deflationary model, where tokens are systematically burned based on transaction volumes within the Oobit ecosystem. This burn mechanism reduces the overall supply of OBT over time, supporting token value while encouraging engagement with Oobit’s services.
Additionally, users who choose to Tap & Pay using OBT in the Oobit app receive immediate cash-back, rewarding them for using OBT in everyday transactions. This cash-back feature not only incentivizes OBT usage but also aligns with Oobit’s mission to deliver added value and usability to its users.
As Oobit expands and innovates in areas like peer-to-peer payments and cross-border transfers, OBT remains central, enhancing accessibility and practicality within the crypto finance space. With its unique tokenomics and rewards structure, OBT positions Oobit as a leading name in decentralized finance, bridging crypto with everyday financial experiences.
The OBT token will have the following utility: Burn: To support long-term value, OBT features a deflationary mechanism where tokens are burned based on transaction volumes within the Oobit ecosystem. For each Tap & Pay transaction and other specified transactions within the app, a percentage of the OBT used is permanently removed from circulation. This burn mechanism reduces the overall token supply over time, creating a scarcity effect that can increase token value while rewarding active users in the ecosystem.
Rewards and Cashback: OBT holders are entitled to benefits, including discounts, cashback rewards, and loyalty points. Through strategic partnerships with merchants and service providers, Oobit incentivizes the adoption and usage of OBT by offering exclusive benefits to token holders. Users who Tap & Pay using OBT in the Oobit app also receive immediate cashback, making OBT not only a means of payment but also a valuable asset for frequent users.
Access to Premium Features: Recognizing the diverse needs and preferences of its user base, Oobit grants OBT holders access to premium features and services within its ecosystem. These may include advanced payment tools, analytics, personalized customer support, and exclusive partner offers tailored to unique user requirements, allowing OBT holders to maximize their experience within the Oobit ecosystem.
The $OBT Holders Reward mechanism is designed to encourage users to use their OBT tokens for payments, with rewards calculated based on the $OBT usgae and the holding period. The function can be expressed as:
$OBT Reward = P x (Amount Spent) x (Holding Duration)
P is a base payout rate, determining the initial reward coefficient for $OBT Holders Reward.
Amount Spent is the total number of OBT tokens that the participant has spent.
Holding Duration is the length of time, typically in days, that tokens are locked in the contract.
α and β are weighting factors that adjust the influence of the amount staked and the holding duration on the final rewards, respectively. Setting α>1 emphasizes the amount of OBT spent, while β>1 gives more weight to the duration of holding.
There will be a maximum supply of 1,000,000,000 OBT ever issued, and tokens will be unlocked at different vesting schedules to ensure fair distribution.
