Forging The Path To A Better Future

The project is responsible for interfacing with token buyers and for providing a mechanism to distribute the Staking rewards.

Solar Oil Project works directly with multiple partner manufacturers, oil well owners, and oil well operators to ensure the project is moving forward properly.

We have a simple vision – allow anyone globally to have a positive environmental impact while also benefiting from the Trillion Dollar energy and commodity markets.

The oil wells in question do not have infinite life span. To ensure you do not have active staking contracts on oil wells that are under producing, all contracts end at 10 years.

The smart contract, and the tokens used to stake towards it end at the 10-year point. In technical blockchain terms, the tokens are 'burned' to prevent re-use.

No, staking contracts are permanent and managed by the Blockchain, ensuring no modifications are possible.

An Oil Well Portfolio (OWP) is a collection of oil wells that submit their production to SOP. Each portfolio is made up of oil wells in different locations, managed by various local operators to diversify risks. Each OWP shows its total size and estimated average net oil production per day. For example, an OWP with staking capacity of 50m SOAX tokens may produce an average of 170-200 barrels of oil per day, while another with capacity of 100m SOAX tokens may average 350-400 barrels of oil per day. Typically, only one portfolio is available to stake on, which is replaced with another as it nears completion.

All net token sale proceeds are used towards 4 primary categories:

The Solar Oil Project does NOT take or keep any revenue from token sales to prevent any conflict of interest and only generates revenue from the oil production itself.

SOP has a margin built into the net cost of each barrel of oil. When a SOPX token is redeemed for 60% of WTI, that margin includes a portion that goes to SOP while the rest goes to the local operators, installers, well owners etc. As such, SOP aims to increase total production at the lowest costs possible, creating a powerful aligned incentive between Stakeholders and SOP itself.

It is extremely straightforward and transparent.

From the moment of Staking, the stakeholder starts receiving oil production allocation from the oil wells for the next 10 years. Each barrel of oil produced is represented as the SOPX token.

For example, an oil well portfolio has a total of 10m SOAX tokens staked and produces 30 barrels of oil in a day. Let us say you staked 100,000 SOAX tokens. In this case your wallet would receive 0.3 barrels of oil or SOPX tokens. To prevent runaway transaction costs, SOPX tokens are credited to a wallet when the total rewards accumulation exceeds 0.5 SOPX.

You can convert the SOPX token to ETH or BTC at whatever the current WTI global price of oil is is 60% of WTI. If the current WTI price of oil is $50, then you would receive $30 equivalent. In the above example, where you receive .3 SOPX, that would equate to roughly $9 equivalent in ETH/BTC/TRN.

As often as you would like. The token rewards are yours and the value is tied to global oil prices. You can convert them within our platform or can trade on secondary markets on other exchanges - something we will be rolling out throughout the life of the Solar Oil Project.

All SOPX token rewards accumulate in the SOP platform’s Ethereum wallet and are transferable or withdrawable at any time.

At the Stakeholder’s request, the accumulated tokens can be transferred to an external address or wallet in ETH, BTC or SOPX token form.

Like all real projects, there are certain economic factors that can become a risk.

Price of oil could drop significantly in the future, which would make the SOPX rewards less valuable. The odds of this occurring are extremely low, but it is certainly a possibility. You can use the on-site calculator to estimate the Impact of this risk.

The cost of certain Items In the project (such as solar panels or the pumping equipment) could rise over time with Inflation or shortages. To mitigate this risk, SOP has established partnerships with the actual equipment manufacturers with long term pricing in place.

Oil output from certain wells or well locations could drop. We have backups in these cases where we can make up the production required with other sites or by requesting the oil well operator to move the pumps and equipment to a different location.

Price of oil may also fluctuate causing the net value of tokens to no longer match. To ensure liquidity protection, partnered operator companies are required to maintain a balance of futures and derivative contracts to offset this risk.

Finally, there exists the risk of hacks and damage to the SOP platform. To prevent long term harm from this, all tokens are held in separate wallets with no keys or identifying information on any server. Further, all user data is kept off-site and since SOP does not provide any fiat conversion options, there is no personally identifying information that is collected or kept on the SOP servers.

Solar energy is simply a part of the process and is primarily there to help lower the environmental impact of oil production. The true cost savings are achieved through the significantly more efficient pumping technology (Pneumatic or PCP) while the Solar aspect helps with making the project greener and better from an ecological perspective.

The specific equipment manufacturer used depends on the location, operator, and the type of oil well. In some cases, pneumatic pumps are used, while in others progressive cavitation pumping may be applied. SOP does not exclusively contract with any single manufacturer to minimize dependencies and allow for flexibility as needed.

Similarly, multiple solar panel manufacturers and installation companies are contracted based on the locations of various sites.

They are! Oil well rehab is a very routine aspect of oil production. Usually this involves stimulating down hole pressure via injection sites or making small optimizations on oil production itself. However, on exceptionally low volume wells that produce under 10 barrels of oil per day, these improvements can be cost prohibitive and are largely ignored by major oil corporations. Therefore, SOP contracts with local operators and well owners where the properties meet the right parameters to deploy the new pumping technology.

We encourage oil well owners to reach out to us by filling out the Well Owners form on our website. If the parameters match, SOP may be able to help you revitalize and boost production from your oil wells while mitigating majority of the cost.

The SOP team is comprised of 3 sections – Management Team, Advisory Council, and Partners.

The Advisory Council is the group of passionate individuals that are at the forefronts of their respective fields and help with growing SOP’s global reach. The Advisory Council shares feedback and suggestions on the token platform, as well as the project.

The Partners of the project are companies, manufacturers, and oil well owners that are participating with SOP in various capacities to help grow.

The Management Team is the group that provides general oversight across the entire platform to ensure the project is achieving its stated goals by engaging the right partners and confirming the selection of proper fields for production, right hedges when needed, and the right equipment as and when applicable.

All said, there are hundreds of participants across these 3 categories. More detail is available on the ‘About Us’ page of SOP.

We are huge privacy rights advocates and believe in the freedom of people to make their own choices (if everything is morally and legally defensible).

All information on token holders, oil well owners, manufacturers, installers, and operators are 100% anonymized and encrypted. We actually go a step further and make sure that no personal information on any of the participants is available on our servers or the platform.

To prevent unauthorized access to your account we highly recommend enabled 2FA as a security measure on your account.