Sobit Exchange

Sapan Mishra
Sep 2, 2018 · 4 min read

General introduction of Sobit and SBT

What is Sobit exchange?

Sobit is the first user-owned digital assets exchange. Nowadays, traditional centralized exchanges hold a lot of wealth. When these wealth are gathered in the hands of a small number of private owners, they may secretly manipulate the market for more benefits, damaging the interests of other users and even the industry.

In order to build a more free and transparent platform, we redefine traditional equity as quasi-equity on Sobit platform. As long as you hold an amount of SBT, you can enjoy all the rights of the quasi-equity. Besides, we are developing a user autonomous community where all shareholders can join and easily exercise their rights. There are three basic rights on Sobit platform: dividends, the right to vote and the right to know.

Dividend rights

All profits on the platform are 100% allocated to SBT holders. More SBT you hold, More profit you earn. Obviously, users will get more dividend when platform getting stronger and everyone in the community will make efforts to benefit the platform.

Voting rights

We will refer major decisions about the future of Sobit platform to the community, and more SBT represents more votes. Users can decide on our next development steps and even determine the strategic direction of the platform.

Right to know

We regularly release information about the platform to the autonomous community, to ensure that all shareholders are informed of enough information to make timely decisions. The information include financial statements, development progress, potential partnerships, and more.

What is SBT?

SBT, issued by Sobit, is a proof of all rights to the Sobit platform, with a total amount of 10 billion, no future offering. SBT is the shareholding of Sobit exchange. All users holding SBT can not only get 100% dividends from the exchange’s profits, but also exercise their rights according to the SBT amount they owned. It can make it possible to change or even determine the future development of Sobit by users.

In addition, SBT is issued by trans-fee mining, 80% of the daily transaction fee will be returned to users in SBT on the next day. This means that the platform’s transaction fee is only 20% of 0.1%, Equal to 0.02%.

What can SBT do?

All users holding a number of SBT in the Sobit platform, according to the circulating supply ratio, have the corresponding quasi-equity rights*(dividend, voting rights, right to know, etc.)
*Quasi-equity:Non-legal equity, only enjoy the right to reciprocal owner‘s equity, but do not assume legal responsibilities and obligations.

a) Dividend
Example: If user “A” holds SBT and it accounts for 1% of the circulating supply. User “A” can enjoy 1% of the dividend right.
If the platform profit (daily income — daily average cost) is 100 BTC. User “A” can receive 1 BTC dividend.
* Daily income: including all the income such as the listing fee, transaction fee, withdrawal fee, advertising fee, etc.
* Daily average cost: including daily average labor, site, server equipments, advertising costs, etc.
* Holding at least 1000 SBT to enjoy the dividend

b) Rights and obligations
SBT holds < 1,000 — — — — does not enjoy any rights
1,000 ≤ SBT holds < 20,000 — — — — only enjoys the dividend
20,000 ≤ SBT holds — — — — Enjoy all types of quasi-equity rights

Sobit will establish a community for all users with more than 20,000 SBT in order to exercise their rights and assume obligations:
1. The community of Sobit will release upcoming features, future plans, industry news, etc.
2. Users can communicate with Sobit executives online, vote for Sobit-related major decisions, participate in Sobit new projects and get community payments. (eg:recommending listing for referral fees; participating in customer service, translation, bugs reporting, establishing cooperation relationship with potential business partners , etc.) Also, can make friends with other blockchain enthusiasts and industry celebrities.
3. The community will regularly publish Sobit financial statement for users to supervise.
4. Users are obliged to keep internal information confidential and may not use asymmetric information to impair the platform and other user rights.
5. SBT holders can freely choose to join or leave the community at any time.
6. The minimum amount required to join the community is to hold 20,000 SBT, freeze it to join or unfreeze it to quit. The frozen amount is changeable.
Frozen SBT/ Circulating supply = voting power ratio. The minimum frozen amount is 20,000 SBT.
7. The SBT will be unfrozen if users quitted the community
8. Join the community to enjoy all types of quasi-equity rights and assume the obligation to keep confidential and resist unfair competition.
9. Community users will have one-on-one customer service.

c) Community autonomy
Sobit will also establish a dedicated community platform, set up a community rewards fund and related mission system. The reward will be given back to community developers and other teams and individuals who have made significant contributions to the community. While improving the security technology and community cohesion, users will truly become a member of Sobit, and grow together with Sobit.

How to get SBT?

Users can earn free SBT (free tokens) from trans-fee mining and bounty missions. SBT can also be purchased in trading pairs.

USEFUL LINKS :

WEBSITE : https://sobit.one/#/sbt

FACEBOOK : https://www.facebook.com/sobitexchange

TWITTER : https://twitter.com/sobitone

MEDIUM : https://medium.com/@sobitone

REDDIT : https://www.reddit.com/r/SobitExchange/

Sapan Mishra

Written by

CRYPTO MINING AND TRADING

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