Post
Topic
Board Tokens (Altcoins)
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
by
taseenb
on 12/05/2018, 19:15:02 UTC
[UPDATE] Petro distribution has started!

I have a first transaction on Sunday 6th May. Strange that the amount is not shown in the main bar of the wallet. It still shows 0. Is it the same for you?

It is the same. I am not sure why but I assume that the reason it is like that is because those are tokens that entitle you to eventually change them for real Petros once the Petro blockchain is ready.

I'm not sure, because the "Petro blockchain" is actually NEM. Maybe it's just how mosaics work or a defect of the wallet. Very little information from the Petro team...


Let me clarify. The petro token is ve:ptr. (100,000,000 tokens corresponding to the total number of petros; cf. Whitepaper p. 22 and http://explorer.nemchina.com/#/s_tx?hash=d6a1b554b2a99f16bf19a357677cc10a2cbf845ec33eba85dd6f96f23a05b87a.)

You received petro:ico. (There exist 82,400,000 tokens corresponding to the total number of petros to be sold during the initial offer.) The document of its creation (http://explorer.nemchina.com/#/s_tx?hash=14fd14e9a3e7c5d474cec561ee2529ce4fb253b2200e85fb1c1e1e269e98db28) clearly states that you will receive petros only at the end of the ICO.

It also states: “This token can not be moved”. You as owner of petro:ico mosaics indeed are not able to transfer them. To transfer them you would have to pay a fee (levy) in petro:presale_transfer tokens. (http://chain.nem.ninja/#/mosaic/14fd14e9a3e7c5d474cec561ee2529ce4fb253b2200e85fb1c1e1e269e98db28/0) But you didn‘t receive any such tokens, they all are still in the hands of the government.

You need patience and hope that
  • either things will considerably speed up
  • or the Whitepaper is wrong in claiming that the closing of the ICO “depends on the total sale of the Petro created”
  • or that the description of petro:ico is wrong and you receive your petros before the end of the ICO.

Good luck, anyway.

Yes, that sounds correct.