What is Crudeoil Finance | What is DIESEL Token

INTRODUCTION

Crudeoil Finance is a next generation decentralized deflationary farming platform/ yield aggregator and AMM built on Binance Smart Chain for DEFI economy

Cryptocurrency is the new global economic revolution built to diminish traditional economic monopoly built around fiat currency. Inflation is the main concern as far as fiat currency is concerned. Dollar $ One of most prominent and dominant fiat currency in the world had major inflation through out the years. According to the Bureau of Labor Statistics consumer price index, today’s prices in 2020 are 1,962.84% higher than average prices since 1800. The U.S. dollar experienced an average inflation rate of 1.39% per year during this period, causing the real value of a dollar to decrease.

In other words, $1 in 1800 is equivalent in purchasing power to about $20.63 in 2020, a difference of $19.63 over 220 years.

The 1800 inflation rate was 2.44%. The current year-over-year inflation rate (2019 to 2020) is now 1.31%1. If this number holds, $1 today will be equivalent in buying power to $1.01 next year.

In 2009 Satoshi Nakamoto introduced Bitcoin into the world as the first digital currency. The purpose of the underlying asset was to make a monetary system without a middleman. P2P transactions between users which in theory will eliminate the central figure by making it decentralized. Bitcoin has a fair share of pros as well as cons. However, the main point is that It has a fixed supply, 21 million coins. That will be the maximum amount of bitcoin ever exist in the world. Sathoshi Nakamoto somehow managed to put a dagger into the every running inflation issues associate with the fiat economy.

Subsequently, Etherum/BNB (Binance Smart Chain) were born, with smart contract capabilities which paved the way towards global utilization and much more use cases of cryptocurrency. And now after almost 11 years after the first viable digital currency was created, here we are at this important juncture for the digital assets and decentralization.

Decentralized Finance (DEFI)is the latest trend of cryptocurrencies. It was started way back in 2019 and never had a huge transaction at the beginning as many new innovations. And Now in 2020 We are in a huge DEFI bubble, growing exponentially everyday.

WHAT IS DECENTRALIZED FINANCE (DEFI)?

In a nutshell, a cult with many decentralized financial applications which have been innovated to replace the traditional centralized counterparts. Although still small when compared to the global economy, DeFi has seen rapid growth in 2020. In early 2019, there was only $275M of crypto collateral locked in the DeFi economy. By February 2021, that number had grown to $40B, and it has continued to grow impressively throughout the year, hitting $2.5B in early July 2020, $3B by mid July 2020, $4B on 25 July 2020 and currently sitting at $40B. This growth shows that there is significant interest in DeFi from within the crypto community, but it’s still a small enough sector that many outside the industry may not have heard of DeFi yet.

WHAT DOES THE DEFI MARKET OFFER TODAY?

Today, there is a wide range of DeFi apps available that provide much of what the traditional, centralized financial system provides. From borrowing and lending to investing and insuring, the largely Ethereum/BSC -powered DeFi market caters to many of the most pressing financial needs of the individual.

Decentralized Lending/Borrowing Platforms
Decentralized Trading Platforms (DEXs)
Oracles.
Payments
Wallets
Infrastructure
Assets (Stable coins)
Decentralized Marketplaces
Analytics Platforms
Yield Farming and Staking

And many more… (Please refer to The complete list here in DefiPrime)

WHAT’S YIELD FARMING AND STAKING?

Since our project is about Farming and Staking, We will dig a bit more towards that subsection (You can learn a lot about other section by going through the provided link)

Simply put, “Staking” is the act of locking cryptocurrencies to receive rewards. “Yield Farming” a shorthand for clever strategies where putting crypto temporarily at the disposal of some startup’s application earns its owner more cryptocurrency. Essentially Both terms are pretty much similar.

Here are some articles about Staking by Binance and Yield Farming by Coindesk

There are few well-known farming/staking projects already exists such as YFI (Yearn Finance) , Sushi (Sushi Protocol, etc…)

MAIN DRAWBACK ASSCOIATED WITH CURRENT STAKING/FARMING MODELS

Traditional staking gigs require an infinite supply. New tokens need to be minted in order to keep the users staking. This “inflationary staking” causes a lot of sell pressure, and diminish the value of the token.

OIL Token

2% fees will be charged for every transaction. 1% out of that will be sent to a separate wallet and those tokens will be used to reward the OIL holders. 1% of OIL each transaction will be burnt 🔥 forever (This is the initial plan might change bit after the feasibility study).OIL token is a hyper deflationary crypto asset as mentioned above. This will reduce the total supply over time all the while demand goes up, put a stop to inflation. Once the total supply is burnt by 90% (This is the initial plan might change bit after the feasibility study) the burning function will be terminated automatically by the smart contract.

Following is a rough deflation chart for OIL token (This might change significantly depending upon number of transactions)

TOTAL SUPPLY OF OIL TOKEN WILL REDUCE BY 90% OVER THE TIME 🔥

🌢 Total Supply➖ 100000 OIL

🌢 Staking Rewards➖ 65000 OIL (Locked Forever and will be automatically released to the farmers/stakers)

🌢 Private Sale➖ 12000 OIL (Completed)

🌢 Pre Sale➖ 14000 OIL**(Completed)**

🌢 Pancake Liquidity➖ 8000 OIL (and 200 BNB Locked forever - Proof)

🌢 Community Airdrop ➖ 1000 OIL (Vested and utilized for the community expansion)

DIESEL Token

Use Case

$DIESEL was introduced as part of our vision to build a complete token ecosystem. $OIL was our first token which is deflationary in nature and $DIESEL is a fixed supply token. This will be the medium for buying and selling NFTs on our upcoming NFT marketplace.

$DIESEL has no burn mechanism implemented; therefore, it will be used to list on a centralized exchange as well.

$OIL and $DIESEL are integrated when $OIL holders are provided with benefits later on when all $OIL tokens are minted and unlocked after staking.

Tokenmetrics

DIESEL TOKENMETRICS

🛢️** Total Supply **➖ 1,000,000 DIESEL

🛢️** Staking Rewards and NFT platform liquidity **➖ TBA

🛢️** Private Sale **➖ 225,000 DIESEL (This will be limited)

🛢️** Public sale/IFO/IDO**➖ TBA(More details will follow as we are in discussion with a popular AMM to hold the IFO)

🛢️** AMM Liquidity **➖ TBA (More details will follow as we are in discussion with a popular AMM to hold the IFO)

🛢️ **Centralized Exchanges Listing Liquidity **➖ 150,000 DIESEL

🛢️ **Airdrop to the OIL holders **➖ 5,000 DIESEL (We will airdrop 0.5% to the top 500 OIL holders proportionally)

🛢️ Community Airdrop➖ 5,000 DIESEL (Airdrop tokens will be vested 2 weeks from the listing date)

$DIESEL Tokenmetrics

Distribution Pie-chart of the token

Sale Details

FAQ

Here are some of the common issues and answers you might have. Hope members will be able to get a basic idea about crudeoil finance protocol by reading this.PS: This list will be updated frequently a

What is Crudeoil Finance Protocol?

Crudeoil Finance platform is a hybrid form of a deflationary crypto asset with staking and farming capabilities built for Defi Economy.

Have you had a chance to answer the previous question?

Yes, after a few months we finally found the answer. Sadly, Mike is on vacations right now so I’m afraid we are not able to provide the answer at this point.

What is Crudeoil Finance Protocol?

Crudeoil Finance platform is a hybrid form of a deflationary crypto asset with staking and farming capabilities built for Defi Economy.

Why Crudeoil Finance Protocol?

Cryptocurrency is the new global economic revolution built to diminish traditional economic monopoly built around fiat currency. Inflation is the main concern as far as fiat currency is concerned. Hence, we decided to go against it and build a deflation currency on top of Binance Smart Chain (BSC) network. This is just a DEFI experiment built by bunch of crypto geeks and We built for the community. We would love to see how community is gonna embrace this. How the community react to a deflating currency :)Moreover, Traditional staking gigs require an infinite supply. New tokens need to be minted in order to keep the users staking/farming. This “inflationary staking” causes a lot of sell pressure, and diminish the value of the token. This is where Crudeoil Finance comes into play. Once the total supply 100,000 OIL is minted, No new tokens will ever be minted again. In fact Total supply will keep reducing. There is a burn for every transfer, that is gone forever.

What’s OIL token?

Native token of Crudeoil Finance protocol.

What’s a deflationary crypto asset?

A cryptocurrency with a continuously depreciating supply in its blockchain is called a deflationary cryptocurrency. Deflation can be accomplished through burning some percentage of a coin being minted, buyback and burn, buyback and hold, and many more. (Please refer Coingeek’s article here on deflationary crypto assets)

What’s OIL total supply?

There will ever be maximum of 100000 OIL tokens at the beginning and It will deflate with time. Once 90% of the total supply is burnt the function will be automatically terminated by the smart contract.

What value does OIL token provide?

Users can stake/farm crypto assets in order to gain more OIL tokens. With deflationary function built in the immutable BSC contract the supply will keep going down unlike most of the other yield farming, staking projects. Result will be a massive boost in token price. Furthermore users will be able to trade it on exchanges.

What’s staking/farming?

Here are some articles about Staking by Binance and Yield Farming by Coindesk

Can I farm/stake assets in Crudeoil Finance?

Yes you can. And earn handsomely with OIL tokens

What is Crudeoil Swap?

We will launch our own AMM decentralized exchange which will allow users to swap BEP20 based crypto seamlessly. More info will come in a separate article.

What is Crudeoil Finance Decentralized Governance?

Crudeoil protocol allows the OIL owners to delegate voting rights to the address of their choice. OIL token enables the holders to govern the protocol. The token holder can influence decisions and vote on the forward progress of the protocol.

Crudeoil Finance protocol contract code will be made public?

Yes we will. That’s the beauty of decentralized protocols. We will be full transparent from the get go.

Will the contract be audited by a third party?

Obviously, we do not want our members to go through trouble like in YAM protocol. Once the original contract is ready. It will be passed to one of the best Binance smart contract auditors in the space for a comprehensive audit. The report will be open source and added to the website. Anyone form the community can do the audit and let us know the feed back. Plans are in the pipeline to organize a bug bounty program for the community.

When Airdrop/Bounty/Giveaways/Contests?

TBA! many of the community awareness programs are planned. It’s a community project. We want to give it back to the community. community will never be forgotten

Where can I see the tokenomics ?

Please check the tokenmetrics tab

Why are we raising funds and How the funds will be utilized?

Turning an innovative DEFi idea into reality is not cheap. It takes a lot of resources, time and effort. Followings the areas of project in which we are going to utilize the raised fundsDevelopers compensation, Smart Contract Audit, Initial Pancake Liquidity, Community awareness programs such as AMAs, Giveaways after the launch, Marketing and PR, Listing on Possible Centralized Exchanges, Other Auxiliary Costs

When Pancake listing and liquidity lock up?

Once the Presale and Public sale are completed, OIL will be listed immediately on Pancake and Liquidity will be locked for 1 year.

When Rug pull?

LoL, we spent a lot of time developing out product and strategizing the next step. We have no reasons to rug pull.

When Moon?

Please go and check the Lunar Calander and let us know ;-)

When Binance?

It depends upon two factors. One is CZ. If CZ thinks Crudeoil Finance is good enough to be listed on Binance, he will. And Two is you, means community. We need your support to spread the word about Crudeoil Finance across the crypto galaxy.

Why Binance Smart chain?

Do you even need to ask this question? ITS FRIGGING FEES. Binance smart chain has negligible fees compared to abysmal fees on Ethereum. Frankly we wanted launch the project on Ethereum initially then we got the opportunity to migrate to BSC and we took it. Here are ready to add value to the BSC ECO system.

Would you like to earn many tokens and cryptocurrencies right now! ☞ CLICK HERE

How and Where to Buy DIESEL and OIL token ?

DIESEL and OIL token has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy DIESEL and OIL token

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step - Transfer your cryptos to an Altcoin Exchange

Since DIESEL and OIL token is an altcoin we need to transfer our coins to an exchange that DIESEL and OIL token can be traded. Below is a list of exchanges that offers to trade DIESEL and OIL token in various market pairs, head to their websites and register for an account.

Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase DIESEL and OIL token from the exchange.

Exchange: PancakeSwap

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once DIESEL and OIL token gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com

Find more information DIESEL and OIL token

☞ Website ☞ Explorer ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap

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Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner

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What is Crudeoil Finance | What is DIESEL Token | What is OIL Token