Token buyback mechanics

OilWellCoin will do everything to make you profit. Every six months, the company will give 10% of the total sales for the purchase of discount certificates. This will happen by redeeming the OILD token from users. That is, if the buyer wants to return his discount certificate, the company will be ready to purchase it.

The process will start six months after OilWell begins to sell the extracted oil. The company will buy OILD based on its market price. Nevertheless, OilWellCoin will not be able to purchase certificates cheaper than 100% and more expensive than 300% of their face value ($ 3.74).

The buyback of OILD will take place in several stages:

1. 10% of the sales amount (net of current taxes) is transferred to Hadius Pro Marketing Pte. Ltd.
2. Hadius Pro Marketing Pte. Ltd. places a smart contract. Its validity date is 30 calendar days.
3. OilWell informs users about the possibility of selling certificates.
4. The company will redeem tokens until the funds run out (10% of the sale amount).
5. It will be possible to send and withdraw tokens before the closing date of the smart contract.
6. After 30 days, participants are sent money for the redemption of certificates.
7. Purchased tokens will be destroyed and not subject to re-sale.