Spectre Exchange to become global LP for Beyond Oil

Following an earlier announcement on an energy driven buy-back, Spectre Exchange and Solar Oil detail a roadmap for the Beyond Oil™ initiative.

In August 2021, the teams behind the Beyond Oil™ initiative converged to finalize roadmap details for the launch of the Decentralized Autonomous Revenue Token (DART). This partnership will see Spectre Exchange (SPX), a regulated project the Hatchworks team advises and Solar Oil, a revolutionary application addressing ecological challenges, collaborate to modernise underproductive oil wells with eco-friendly technology.

As part of the Beyond Oil™ initiative, the DART will be the first and only project that tokenizes energy assets production and will distribute commodity-backed token rewards to all DART holders. This represents a major real-world innovation that combines Internet of Things (IoT) and smart contract technology, setting a precedent for tokenizing other forms of energy assets, such as Solar, Hydropower, Crude Oil, or Natural Gas.

As an early investor in the Solar Oil project, Spectre Exchange established an energy-based buyback facility for SXDT — the rewards token of Spectre.

Different aspects of the collaboration were discussed during the meeting, including some major developments that will prove beneficial for both parties. Upon completing a strategic meeting on the tokenization of ecological oil production, the respective teams have issued the following roadmap, extending into 2022 and beyond.

  • Launch of DART: calendar Q1 2022 launch is expected with a DART IEO simultaneously. The DART roadshow begins in October 2021.
    Executed entirely via smart contracts, the DART token is the world’s first true IoT driven resource and distribution token specifically for energy and commodity markets. Operating on-chain, the DART will allow producers and operators of various energy-based projects to connect in a transparent way, with audited production posted on the immutable DART platform. The margins (profits) from this production are then calculated and distributed to all DART holders via the built in Smart Contract. It is issued by Beyond Oil, not Spectre Exchange.

Hatchworks Director Zisis Skouloudis, who chaired the meeting, said it was “constructive and fruitful”, citing that “in addition to generating a new revenue line for SPX, the DART initiative will also result in user and volume flow to the entire Spectre ecosystem of products including Skillgaming, Spectre.ai and any future products, such as Phoenix, which is SXUT powered.”

Beyond Oil’s Bill Papacharalampous said “the DART chain is the first and only application that tokenises Energy Assets production (such as Crude Oil and Natural Gas) and distributes the profits generated via the Smart Contract on the blockchain to all DART holders. This represents a major real-world innovation that combines IoT and Smart Contract technologies to the benefit of DART holders.”

Stay tuned for further updates.

Team Hatchworks

Risk warning: Investments made by the wider group or any specific companies related to the group are made after careful consideration of risks and opportunities. Most investments, such as that made into SOP, are not for retail investors and it is strictly advised to seek the financial advise of a qualified investment advisor before investing in any risky asset. All products and services at Hatchworks or any related projects are closed to U.S citizens and other restricted regions which can be found on the Terms and Conditions of the respective product websites. Spectre Exchange is a fully regulated and authorised broker dealer.

Heading up the group’s R&D activities for Hatchworks.