PermianChain tokenizes Oil to support Permian Token (XPR) related assets and operations. PermianChain will be used by upstream companies to fund their oil campaigns and by midstream companies to secure proven reserves via blockchain. XPR enables digital transfer of underlying assets value in the form of the digitized value of oil. Thus, allowing the utilization of XPR's substantial physical & proven reserves as a means to facilitate commercial and consumer transactions around the world. As a reserve-based digital currency, XPR will become a critical instrument for the preservation of wealth and an ever-expanding range of commercial and consumer activities using blockchain for a digitized store of value. We now have a chance to break out from the traditional way we have done things in the oilfield and redesign the model for the future. This is a direct equity offering and may only be provided to Professional Clients as defined in Section 2.4 of the ADGM Conduct of Business (COBS) Module.
Permian ICO began on September 1, 2018. The ICO token supply represents 10% of the total token supply, so there is a total of 1,000,000,000 XPR tokens available, for 0.10 USD each. The ICO funding target is 25,000,000 USD, the funding cap is 100,000,000 USD and is expected to end on November 30, 2018 or when the funding cap is reached.
Token Reserve Split (90%):