WePower is an open source platform for renewable energy producers where they can sell the energy they produce by tokenizing it. This green energy trading platform is powered by blockchain and smart contracts (consumers & investors). Anyone can buy trade or invest in tokenized green energy on WePower platform.
Through WePower one can raise capital by selling energy upfront at below-market rates. Final consumers can invest directly in energy projects using this platform.
How WePower Works?
A renewable energy producer will issue its own energy tokens. Here 1 energy token will be equivalent to 1 kWh of green energy which is needed to be produced at a future time.
Tokenized energy will be sold at a set minimum price through auctions organized by the renewable energy producers connected to the WePower platform with priority access to those who hold WePower tokens.
WePower platform will then enable green energy producers to sell energy in advance to a worldwide market. This will help to collect the much-needed capital below market rates thereby increasing the ability of the green energy project to make profits.
The benefit is not just for the producers but also for the investors as they will be able to invest at lower costs and at higher liquidity.
WePower platform aims to build a decentralized delivery system for energy with scalability beyond borders through blockchain technology. Blockchain allows good interaction between the community plus great efficiency and security along with low-cost management.
How can Energy Tokens be used?
The energy token holder can use the energy when it is produced which will be physically delivered. Also, the token holders can sell the energy to any other user before its production. The third option is to sell the energy in the wholesale market for flat currency or for the cryptocurrency.
The value of these energy tokens will never go below the market cost of energy and will grow with the price of energy. The growth in cryptocurrency market will also boost the price of these energy tokens.
How to get Priority Access to the auction?
Higher the number of WPR tokens a person has, the greater amount of priority will be given to that person to buy energy tokens. In short, these WPR tokens will be like a priority access card for the buyers to get energy tokens once an auction is up.
How is WePower Token different from other ICOs?
WePower tokens are backed by energy which already has a well-set market and a value that can be measured. These tokens are tradable and liquid enough and their value grows with time.
WePower ICO Other Details
Soft Cap: 5 Million USD
Hard Cap: 35 Million USD
Exchange Rate until the Soft Cap: 1 ETH = 1150 WPR
Exchange Rate after the Soft Cap Ends: 1 ETH = 1000 WPR
Main Token Sale Date: 1st February 2018.
Main Token Sale End Date: 14th February 2018
Pre Sale: Completed on 22nd October 2017 (3 million USD were raised)
Total WPR Tokens: Will be announced when sale date comes near due to ETH price fluctuations.
Total WPR Token for Sale: 55% of the total token supply including both pre-sale and public sale
Unsold tokens will be burnt.
Funds raised will be used for the development as well as for the benefit of WePower.