What is ODN?
Obsidian is a platform for privacy based decentralized applications (DApps). The platform has a working product available for android called Obsidian Messenger or OSM for short. OSM will provide the most secure method of sending encrypted messages, pictures and payments with complete anonymity and is actively being developed and improved.
What about the Masternode?
One of the key benefits of holding the Obsidian token (ODN) is that you can stake directly from the wallet, earning about 10-15% annually. Currently, masternodes are not implemented and you can start staking immediately with any amount. 10,000 ODN is the planned amount necessary for a masternode, but eventually:
A: 10,000 ODN will be the required amount to stake.
or
B: Those with 10,000 ODN will earn extra rewards as masternode holders.
The community seems to be leaning towards scenario B but information is still forthcoming.
What makes ODN an exciting opportunity right now is that due to recent turmoil within the community, ODN has dropped from a peak value of over $2.00 to only 18 cents! This means that a masternode which would have cost 20k USD can now be had for under $2,000.
Why is ODN so Cheap?
The price drop which began with the overall market crash in January and was fueled primarily by a lack of communication from CEO Peter McClory and uncertainty around the future role of a key developer Claus Ehrenberg aka Blackstone.
McClory responded to the community with the following update on February 20th:
Hi there everyone before I go any further I would like to give you a quote I came across which seems rather appropriate in many ways, and it is short(!): “Alone we can do so little; together we can do so much.” - Helen Keller
Apologies for the recent radio silence. During the last few weeks I have been less active on the community channels because I am hard at work in the background engaged with a team of advisors who are assisting me with formalising a more robust governance structure, dealing with visibility and transparency issues, and meeting with experienced developers that may collaborate and possibly join the project.
Once this ongoing work has further crystallised into more tangible value I will get back to communicating with you more steadily, and making certain that you are regularly updated in much more detail on the work that is being done. As for now, I am hard at work and simply need to block out some negativity in order to focus on work and ensuring that we have a good path forward to deliver on our promises.
I pledge that once we are further progressed, before the end of March, I will go over the progress we have made. After this I am very much looking forward to getting back to hanging here and chatting. Also, there absolutely will be AMAs in the future where I will be able to better engage with the community in an open manner. I would also like to say thank you to the individuals in the community who have reached out to me directly (on private channels) to offer positive support. I apologise to those who saw the recent lack of activity as malicious but rest assured that everything being done is in order to revitalise the project and set it up for future success.
With an update coming likely in late March, in my opinion the next 2-3 weeks may be the final opportunity to acquire an Obsidian masternode at the current low price. Because of the staking rewards, those buying now can expect a 10-15% annual return on current investment into ODN even if it only manages to maintain its current low price at the lowest point of this crash at a time of peak fear, uncertainty and doubt. Furthermore, Blackstone has repositioned himself as a community developer and remained highly active in this role while maintaining an active presence in the Discord.
As always DYOR and please leave a comment if you found this information useful!
Helpful Links:
Official Website: https://obsidianplatform.com/
Download Messenger: https://osm.obsidianplatform.com/
Subreddit: https://www.reddit.com/r/ObsidianProject/
Discord: https://discordapp.com/invite/TxqPsv8
Feel free to message me on OSM - 6ZVGmpuKvz
Thanks for the info! I'm going to buy some.
Nice, be sure to check out the messenger and start staking!
Nice! you made me just go check my cryptopia account and i got the chance to rebuy.. great post, on a great token!
Have a great day or night wherever you are , Resteemed!
Very cool! With Cryptopia the withdraws have been taking longer than usual for me on all kinds of tokens but usually clear from pending within 48 hours in case you run into that issue.
all good i just loaded on some Eth and and exchanged them. Im the hodl kind, now that i have a cash flow and no debts or cost of living anymore, so its all about investing the crypto for me these next 2 years haha.. This looks like a great investment! do the go on ledger nano?
No ledger support, usually ledger only adopts the projects with top market caps. To earn the staking rewards you just store them on the official wallet, keeping it open and your internet connection online. Wallet download can be found right on the front page here: https://obsidianplatform.com/
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