Real-World Asset Token

Oil, Tokenized.

WTIC is a RWA token with 1:1 backing by barrels of West Texas Intermediate oil. Zero tracking error. Zero rollover risk. Just direct 1:1 backed exposure to WTI oil, onchain.

Get WTIC Read our Documentation

A Digital Barrel of Oil

Each WTIC represents one barrel of WTI crude oil, backed 1:1 by physical crude oil in inventory through Volumetric Energy Receipts. WTIC is priced daily to the WTI benchmark and can be traded onchain 24/7/365.

1:1 Physical Backing

Every WTIC is backed 1:1 by physical crude oil, represented by independently held and audited Volumetric Energy Receipts.

WTI Benchmark Priced

Issued and redeemed daily at the WTI Reference Price. Trades onchain 24/7/365.

ERC-20 on Ethereum

Standard ERC-20 with EIP-2612 gasless approvals. Non-upgradeable smart contracts audited by Sigma Prime.

RWA.xyz Track WTIC on RWA.xyz →

As Seen On

Why Tokenized Oil

A Better Way to
Own Oil

Commodity tokens eliminate the structural disadvantages of futures-based ETFs and the complexity of direct commodity ownership.

Investor Benefit WTIC Futures Oil ETFs Energy Equities Perps
Direct spot oil exposure ✓ × × × ×
1:1 verified physical backing ✓ Highly leveraged × × ×
24/7 trading ✓ × × × ✓
No roll costs ✓ × × ✓ ✓
Fractional investment ✓ × ✓ Limited ✓
No holding costs ✓ × × ✓ ×
Instant onchain settlement ✓ × × × ✓
Yield opportunities ✓ × Limited ✓ ×
Mechanism

How WTIC
Tokens Work

A transparent mint-and-burn process that maintains 1:1 backing for consistency.

01

Buy or Mint

Buy WTIC on secondary markets 24/7/365, or mint through the primary market on U.S. business days at the daily Reference Price.

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02

Oil Substantiated

Energy suppliers bid through a reverse Dutch auction to sell oil at a discount. The custodian receives energy receipts confirming 1:1 backing.

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03

Hold & Trade

Trade 24/7/365 on exchanges. Token price tracks the WTI benchmark. Zero carry costs, zero management fees while you hold.

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04

Sell or Redeem

Sell WTIC on secondary markets 24/7/365, or redeem for cash at the daily Reference Price on U.S. business days. Qualified tokenholders may also request physical delivery, subject to applicable terms and costs.

For Suppliers

Unlock Working Capital
Through WTI Coin

A new channel for oil suppliers to access working capital, broaden demand, and maintain full operational control.

New Capital Source

Convert inventory into working capital alongside existing financial arrangements.

Faster Liquidity

Improve funding flexibility with a token structure designed for faster, more continuous access to liquidity, 24/7/365.

Retain Control

Retain control of oil inventory without disrupting day-to-day operations.

Broader Demand

Broaden demand for American oil by making direct 1:1 backed exposure easier for digitally native buyers and others who have historically had limited access.

Transparency

Infrastructure designed for transparency, auditability, and compliance.

Leadership

The Team

Decades of experience across energy trading, commodity markets, blockchain infrastructure, and financial regulation.

Donald Putnam
Donald Putnam
Founder, Exec Chair
Quantitative finance and investment banking pioneer. Founder of Grail Partners, former Chairman and CEO of Putnam Lovell. NYU Courant Institute.
JP Thieriot
JP Thieriot
Founder, CEO
Crypto wallet pioneer and seasoned entrepreneur. Former Vice Chair and CEO of Uphold Cryptocurrency Exchange. Former investment banking at Hambrecht & Quist. Yale University.
Chris Ericksen
Chris Ericksen
President, COO
Investment management and banking executive. Former CFO and Managing Partner at Jackson Square Partners. Former VP, Asset Management at Goldman Sachs. Carnegie Mellon University.
Wil Harris
Wil Harris
CCO
Senior energy trading and hedging executive. Former Managing Director, Commodities at Deutsche Bank, Merrill Lynch, and Credit Suisse. University of Virginia, NYU Stern.
Meet Our Advisors →
Questions

Frequently Asked
Questions

What is WTIC?

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WTIC is an ERC-20 commodity-backed token on Ethereum. Each token represents exposure to one barrel of West Texas Intermediate crude oil, backed 1:1 by physical commodity held through energy receipts with an independent custodian.

How is WTIC backed?

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Each WTIC token is backed 1:1 by one barrel of physical West Texas Intermediate (WTI) crude oil in inventory. The oil is represented by a Volumetric Energy Receipt (VER), which documents the underlying commodity. An independent custodian verifies the VERs and provides ongoing certification of the physical oil backing WTIC.

In simple terms: one WTIC represents one barrel of verified physical WTI crude oil.

Where can I find more information about your token contract?

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WTIC’s Ethereum token contract address is:

0x709ab533D18e652eCd56423d71c0241A0ee56a3b

View the contract on Etherscan →

How do I buy WTIC?

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Visit our Get WTIC page for details on how to purchase WTIC.

How do I redeem WTIC?

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WTIC can be traded or sold on the blockchain through secondary markets 24/7/365. Holders who wish to redeem WTIC through the primary market can do so on U.S. business days at that day’s WTIC Reference Price. Redeemed tokens are burned, with a standard 0.25% redemption fee, and cash settlement generally occurs within two to four business days.

Qualified holders may also elect physical delivery of the underlying oil, subject to applicable delivery procedures and third-party costs.

How is WTIC priced?

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WTIC’s daily price is set using the Reference Price. See our Documentation for more information.

How is WTIC different from other oil tokens, crypto and oil perps?

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Oil tokens and crypto products can represent very different things. Some are linked to oil reserves still in the ground. Synthetics and perpetual contracts (“perps”) provide exposure to oil prices without commodity backing. Other crypto tokens may simply use oil in their name, branding or narrative without representing oil at all.

WTIC is backed by WTI crude oil held in inventory. Each WTIC represents one barrel of WTI crude, backed 1:1 through a Volumetric Energy Receipt held with an independent custodian. It is not a synthetic or derivative.

WTIC is live and tradable onchain as part of the growing real-world asset (RWA) commodity ecosystem, bringing direct oil exposure to digital markets for the first time.

Do you source from sanctioned countries?

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No. Energy Substantiation does not purchase underlying commodities or receive energy receipts from countries or entities subject to U.S. or international sanctions. All suppliers are vetted to ensure compliance with applicable sanctions regimes, including those administered by OFAC.
Get Started

Get Started
with WTIC

Real oil. Built for digital markets.

Get WTIC Read our Documentation