EcoWatt has launched its initial exchange offering and it will be listed on Bitforex in October 2021. There will be two private sales rounds with a total of EUR 8 Million targets from private token sales and EUR 25 million from institutional investors.
What is EcoWatt?
EcoWatt – A blockchain enterprise solution to make crypto green again, with a tangible green asset portfolio that includes solar, wind, hydrogen and geothermal power plants. It is the first of its kind in the niche and its portfolio also increases the value, utility and price of its token.
Not only does EcoWatt have it’s token backed by green assets but also in its mining practices. It provides an enterprise solution by offsetting carbon emissions due to mining and makes crypto miners carbon-neutral while staking.
The company aims to shift the control of global electricity from governments and hedge funds to the retail community. A token holder directly benefits from the success of the EcoWatt green asset portfolio as they gain access to liquidity, rewards, NFTs, and green crypto mining opportunities.
Idea behind EcoWatt
According to The World Economic Forum, 10% of the global GDP which approximates to $87 trillion will be stored in the blockchain in less than 10 years. Leveraging the advancing powers of blockchain, EcoWatt plans to expand its mining target and increase its green portfolio cap above 6 billion euros. Throughout the process, it will be saving 750,000 tons of CO2 emissions, planting 2 million trees and will have 5 million euros invested for social impacts. A real tangible example of this bigger vision behind the company is the launch of the first sustainable farming and reforestation project with trees.org. The pilot project is creating small farms for 500 families and is planting 1 million trees over a 4 year time period.
Real-world business case
EcoWatt token is backed by physical green watt power with three recurring revenue streams. To have a tangible impact, they plant millions of trees to reduce CO2 emissions and to produce green electricity which will also increase its token value.
A Solution to a Real Problem
EcoWatt provides carbon credits as an enterprise staking reward incentive to make crypto mining green again. Long-term staking reduces Token supply and increases Token value.
Real Value increase (Reverse burning)
Watts are added to a fixed supply of tokens and this increases token value. This improves the value, utility, rewards and impact of the Token and increases staking incentives to further reduce supply and create scarcity.
Up to 24% APY issued as daily Rewards Tokens to access utility features incl. Governance, Leverage, Carbon Credits and NFTs. Rewards Tokens also create additional trading opportunities without having to sell EWT.
The total token supply is 1 Billion tokens which is backed by 1 Billion Watt (Approx. 200 large Wind Turbines) at issuing, this would capture 750.000 tons of CO2 annualy. Over time Ecowatt aims to have a minimum 5 Watt backed per token by 2023-25, increasing the backed green asset portfolio with a multiple of 5x.
Founders are doxxed for the 1st year and then tied to Token issuance. To receive 100% of Tokens they must achieve 100% Tokens issued
About the team
Thomas Puskas is the founder and CEO of EcoWatt. He has been involved in sustainable energy projects across Eastern Europe for more than 30 years, including the preparations for Vienna-Budapest World Fair, and infrastructure projects in Austria, Hungary, Romania, Ukraine and Russia. Paul Flynn is the co-founder and managing director of EcoWatt and he is also the founder of Green Asset Portfolio. He has over 15 years of work experience during which he served for high profile energy projects and was a panel speaker in the UN General Assembly
Matthew Edward, Daniela Serban, Dr Rolf Schiffer, Csongor Veress and Marius Nitescu are also in the team among others.
Each EcoWatt token comes with the environmental and economic output of an operational renewable energy asset and thus 1 token = 1 watt of energy. The cryptocurrency concept of Ecowatt aims to fund social impact projects, provide liquidity and increase rewards which all will, in turn, increase the token price.