National Oil Coin (NOC) is the first phase of a UAE oil-backed digital asset ecosystem. The project tokenises verified hydrocarbon reserves, uses Stellar as its settlement layer, and is designed to bring auditable, reserve-backed value into a retail and institutional crypto format.
The NOC Token is a commodity-backed digital asset built on the Stellar (XLM) blockchain. It is designed to tokenize the proven hydrocarbon reserves and energy revenues of the United Arab Emirates' National Oil Companies and anchor digital ownership to a real-world reserve base.
Each NOC token is partially collateralised against verified oil and gas reserves certified by independent third-party auditors. This structure is intended to provide a real-asset anchor while Stellar's low-cost, high-throughput rails make instant settlement and fractional ownership practical.
NOC is also the gateway token for a phased multi-token ecosystem that will progressively integrate ADNOC, ENOC, SNOC, and Dubai Petroleum Establishment into the same decentralised financial infrastructure.
Stellar allows custom assets to be issued natively without the smart-contract overhead required by many other chains, reducing the attack surface for the base token model.
The network is structured around 3–5 second finality and extremely low transaction costs, which is important for energy payment flows and high-volume settlement activity.
Clawback, authorisation flags, trustlines, and account controls are positioned as core compliance tools for a regulated energy-finance token model.
The Stellar anchor framework can connect USD, AED, and EUR rails to NOC, enabling fiat gateways for investors, treasury use, and revenue distributions.
Stellar's decentralised exchange can support NOC trading against XLM, USDC, and other Stellar assets without requiring third-party bridges.
The Oil Reserve Oracle (ORO) is intended to feed certified reserve data from auditors directly into the ledger to support reserve-ratio calculations and token controls.
Phase 2 would bring ADNOC upstream production revenues into the ecosystem, with a higher collateral target and strong institutional focus.
Phase 3 links ENOC's refining margins and retail fuel network revenues to a consumer-facing utility token model.
Phase 4 connects Sharjah's gas exploration royalties and storage operations to a smaller-float token with denser reserve backing.
Phase 5 would represent offshore production-backed value from fields like Fateh, Southwest Fateh, and Falah.
The long-term vision is a single digital asset framework that connects the UAE's major NOCs through a shared token architecture.
The whitepaper positions the UAE as a major hydrocarbon reserve holder, which is the underlying basis for the ecosystem's reserve-backed approach.
25% of supply is described as locked in the Petroleum Reserve Trust and released only on reserve audits.
20% of tokens are allocated for public sale through LOBSTR and partner exchange channels.
20% is reserved for ADNOC, ENOC, SNOC, and DPE with vesting and cliff mechanics outlined in the whitepaper.
15% supports liquidity mining, staking rewards, and DEX incentives inside the NOC ecosystem.
The foundation treasury, team, advisors, and compliance reserve cover governance, strategic spending, and regulatory operations.
LOBSTR is identified as the primary retail wallet and exchange interface for Phase 1 token distribution and user onboarding.
Initial NOC token release, public sale, and Stellar-based settlement infrastructure.
Expansion into ADNOC upstream production revenues with a higher collateral ratio.
Retail-facing tokenisation tied to ENOC refining and station network revenue.
Sharjah and Dubai offshore production assets broaden the ecosystem into a multi-token national framework.
The UAE NOC Digital Asset Consortium is described as the governing body for operations, legal structure, and token oversight.
Token holders above a threshold can participate in governance voting through dedicated Stellar governance accounts and proposal memos.
Authorisation controls and KYC verification are presented as toggles that can vary by jurisdiction and compliance requirements.
The whitepaper emphasises reserve audits, legal compliance, and the fact that cryptocurrency investments involve significant risk.
NOC is intended to be accessible to a broad global audience, with LOBSTR highlighted as the primary user-facing access point.
On-chain recordkeeping is positioned as a way to make reserve verification, revenue flows, and governance more transparent than traditional reporting.