Spectre Exchange to become global LP for Beyond Oil™
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.
- Spectre Exchange (SPX) — Level 1 Liquidity Provider (LP): Estimated launch January 2022.
SPX will be the first regulated liquidity provider for primary and secondary market sales of DART. By offering DART on SPX, the tokens will be available both in a primary market and the strictly peer-to-peer secondary market. The Beyond Oil™ team are delighted to partner with SPX on this process, and SPX will become the only provider of liquidity on an exclusive relationship.
- DART Marketing: Q4 2021 onwards.
Beyond Oil™ will be doing a significant marketing drive for DART, starting later this year and throughout next. This will boost flow to SPX and underpin natural growth from users who will learn about other listings on the exchange. This will also create a market for primary and secondary market sales of the DART. As always, a portion of these will be circulated back to SXDT holders.
- Rewards Interface: Q1 2022.
A discussion on how the rewards interface will work for DART holders. Hatchworks will lend its technical expertise pertaining to rewards distribution, security and smart contracts to the DART team.
- Technology: Q1 2022.
A discussion on the technology to be provided to the influencers for the Solar Oil project.
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.
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