PDX enables individuals and organizations to utilize a transparent peer-to-peer exchanged digital currency backed by the value of crude oil and natural gas – the most globally liquid and actively traded commodities, and critical energy resources for the global economy. Each PDX token represents the net recovered value of a minimum of an estimated 1 reserve barrels of crude oil or its natural gas equivalent, and will be supported by a basket of oil and gas assets including physical oil and natural gas, oil and gas futures or derivatives, and interests in oil producing properties with an aggregate initial value approximating the aggregate value of all PDX in circulation.
PDX has been structured with a view towards becoming the world’s leading safe-haven tokenized store of value. By linking each PDX token to existing and verified real world assets, PDX enables holders of digital and fiat currencies seeking to preserve wealth, lock in gain and/or avoid loss to acquire, hold and transfer intrinsic value in digital token form. In order to meet increased demand over time, the number of PDX in circulation and their supporting oil and gas reserves are able to expand in tandem to maintain an approximate equilibrium between the USD price of a single PDX token and a multiple barrels of oil, or its natural gas equivalent, on global markets without diluting the interests of existing PDX holders.
PDX is founded and coordinated by a fully transparent, experienced and highly reputable team who will manage the operations and development of PDX and act to ensure compliance with applicable laws of the U.S. and other jurisdictions. PDX will be issued in accordance with the relevant laws in applicable jurisdictions. Transfers of PDX tokens will be subject to compliance with all applicable laws. The maintenance of PDX’ commencing oil and gas reserves will be compliant with laws governing transactions in commodities, likely including the U.S. Commodity Exchange Act. Financial statements related to PDX and its oil reserves will be prepared in accordance with U.S. generally accepted accounting principles or similar standards as may apply in other jurisdictions, and may be subject to audit by a leading global accounting firm.
Unlike PDX, U.S. based oil exchange-traded funds (ETFs) presently subject holders to annual tax and tax reporting obligations due to allocations of income related to the ETFs’ oil holdings. In contrast to ETFs, but like other digital tokens, PDX is expected to be treated as a currency in its relevant jurisdiction(s) for income tax purposes and will not allocate income related to PDX’ operations (including supporting oil reserves) to holders of PDX.
As a consequence of this structure, holders of PDX are not expected to be subject to annual tax but instead will be taxed only upon any gains (or losses) from their sale of PDX. By separating the tax attributes of PDX from the tax attributes of their underlying oil reserves, PDX represents the creation of a new and unique financial instrument with potentially favorable tax treatment and return profile for U.S. and non-U.S. investors.
PDX will likely be driven by Ethereum-enabled blockchain technology in order to provide a robust and decentralized method of verification, tracking and exchange.
The Ethereum blockchain is expected to provide an auditable and cryptographically secured global ledger and will facilitate transactions with other familiar currencies (both fiat as well as crypto) and assets.
At its core, PDX represents the peer-to-peer transferability of digitized commodity value.
PDX’ unique structure, verified intrinsic value and expected much lower volatility will provide meaningful economic benefits to its holders, purchasers and sellers. In particular:
Being sold in the current Private Coin Placement ("PCP") round to accredited investors at a large discount to the expected ICO price
Further potential price upside in the market after the ICO
PDX is linked to physical assets and not thin air, so is expected to be more price-stable as a result, but still with plenty of upside in the price. Huge oil and gas reserve base underpinning PDX
Proven banking, energy, and technology team with solid track record of delivering
Leading-edge world-class technology with ongoing R&D. Secure Blockchain technology built on the Ethereum ERC20 Protocol
Built in multiple strong security features to avoid token theft
Fully transparent and audited
A reliable store of value
Hard cap on the number of tokens that can be issued
Will be tradable worldwide outside of the traditional banking system
Designed for both business and consumer use in anonymous transactions
Developing mobile apps for global payments and transfers
Exchangeable for major world currencies and other cryptocurrencies
Developing apps for payments for all manner of goods and services
High-speed and cheap global funds transfers
New applications being developed in retail, health care, etc.
Ultra-secure encrypted global messaging app pending
Will be highly liquid
Expected to be in Top 20 cryptocurrencies by total market value
Credit and debit cards available through our own bank
Full suite of other online banking services available, worldwide
Viable trading and investment instrument
Larger and vastly superior to 97% of all other current cryptocurrencies
Globally compliant with all rules and regulations
Post-ICO, EACH token in circulation will be backed by over 6 barrels of proven recoverable oil reserves
Real customer support 24 / 7, unlike most other cryptocurrencies