Only a few projects can contribute to greater environmental concerns by using blockchain technology in the cryptocurrency world.
Amongst the potential thousands of projects, sustainability projects have been pushed to the sidelines. However, IOEN’s vision and dedication have attracted more attention.
IOEN, a blockchain-based smart grid energy distribution protocol, is focused on providing sustainable and clean energy through virtual microgrids. This community-driven network uses an innovation similar to blockchain but with a unique mechanism.
Holochain by IOEN uses an agent-centric infrastructure. This network allows for the exchange of value and connection between energy devices, users, or markets.
Internet of Energy Network (IOEN), has just launched its Initial Decentralized Exchange Offer (IDO). It features a dual-IDO on TrustSwap launchpads and TrustPad launchpads, followed by joint listings on DEXs QuickSwap (Uniswap) and DEXs Uniswap (Decentralized Exchange Exchange).
A Virtual Energy Microgrid is being built
IOEN, which maximizes the Holochain technology allows homes in any area to run an intelligent, cooperative electric ecosystem. Devices like washing machines, air conditioners, and solar panels can adjust their behavior to meet local and individual requirements depending on economic initiatives. They can connect their homes to form a virtual energy microgrid.
With rising environmental concerns about crypto mining and the need to transition to renewable energy sources, IOEN is aiming to be a pioneer in this transition. Its virtual energy microgrid solution, which is reliable, secure, scalable, and enables more renewable energy to be generated within a network, contributes greatly to the goal to zero global carbon emissions by 2030.
Two currency layers support the network: the IOEN token, and IOEC credit system. The first is an ERC-20 token that can be pronounced as “ion” and is a staking asset for new mini-grid economy. The IOEC credit systems for each mini-grid are unique and can be used to trade energy.
Staking Initiative for Native Token
IOEN also launched a staking programme in collaboration with Kaizen Finance. This crypto-token platform allows users to earn rewards for holding their tokens.
Users can earn APY up to three months with the partnership. Users can stake IOEN to gain exclusive access to discounts or other benefits.
IOEN has announced that tokens acquired during the IDO will be known as sIOENs. Users can stake them online. Users can choose to withdraw 30% immediately, or keep all staked tokens, while the remaining 70% will be vested over three month.
IOEN has a supply limit of 1 billion and a circulating stock of 20 million. It will be distributed by the network during its investment rounds at different prices. IOEN also has other utility options, including the ability to use it to purchase energy credits at a discount of up to 90%, governance, efficiency and speed in terms transaction speed and cost, using Holochain post-blockchain technology.
Marla Brooks – Financial Analysis
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