# $OBY - Voting/Utility Token

### In a nutshell

* Blacksquare holders will receive $OBY, if their respective Edition has set next [Illumination](https://blacksquare-1.gitbook.io/blacksquare/inception-one/illumination) date
* During each cycle of an edition, a total of 300 $OBY will be distributed per Blacksquare
* Distribution of $OBY token per Blacksquare is daily and dynamic
* During inception one, $OBY are mainly used to exchange for [Illumina](https://blacksquare-1.gitbook.io/blacksquare/inception-one/illumina) and thus to vote on further [Illuminations](https://blacksquare-1.gitbook.io/blacksquare/inception-one/illumination)
* Furthermore $OBY will also be used as governance token for the DAO
* $OBY is claimable on our website

### **Detailed Description**

#### **Distribution of $OBY**

$OBY voting tokens are only distributed to those [Blacksquare](https://blacksquare-1.gitbook.io/blacksquare/inception-one/blacksquares) owners with and edition having a set  date for the next [Illumination](https://blacksquare-1.gitbook.io/blacksquare/inception-one/illumination). After each [Illumination](https://blacksquare-1.gitbook.io/blacksquare/inception-one/illumination), token distribution stops and is paused until the next [Illumination](https://blacksquare-1.gitbook.io/blacksquare/inception-one/illumination) date of the respective edition is set.

The period in which the token distribution takes place is called *cycle* and the number of days in which the token distribution takes place is defined as the *cycle length*.

Throughout each cycle of an edition, a total of 300 $OBY per Blacksquare will be distributed. The distribution of $OBY tokens per Blacksquare is daily, but dynamic, depending on the cycle length of an edition.

An example:

A new illumination date for edition 2 has just been set and will happen in 15 days.&#x20;

This results in a cycle length of 15 days.&#x20;

As a total of 300 $OBY will be distributed per cycle.

The daily $OBY distribution for Blacksquare holders in edition 2 is calculated as following:

$$
$OBY\_{day} = \frac{$OBY\_{cycle}}{days\_{cyclelength}}
$$

$$
e.g.: 20=\frac{300}{15}
$$

#### **Utility of $OBY**

During Inception One, $OBY voting tokens are mainly used to swap for [Illumina](https://blacksquare-1.gitbook.io/blacksquare/inception-one/illumina) and thus to vote on further [Illuminations](https://blacksquare-1.gitbook.io/blacksquare/inception-one/illumination).

With advanced project development, $OBY tokens will be used as governance tokens in DAO decision-making.

####
