Internet Of Energy Network (IOEN), a blockchain-based smart-grid energy distribution system, has announced that they will collaborate with TrustSwap to aid in the execution of their $IOEN token offering on October 8th, 2021 at 9:00 AM PST.
IOEN: Opening New Horizons for Crypto and Energy
Internet of Energy Network (IOEN) is on a mission to create a secure digital infrastructure for clean, sustainable energy, powered by virtual microgrids. It is unique in its approach because it is building out this network device by device in an ‘agent-centric’ architecture built on Holochain. IOEN technology enables homes anywhere to operate as intelligent, cooperative electricity networks where devices such as washing machines, air conditioners, solar panels, and even electric cars adjust their behavior to suit local grid needs and the needs of individuals, based on economic incentives.
It is literally the internet for the energy systems of the future.
IOEN’s token model unlocks the capabilities of clean energy microgrids globally, building capacity from the ground up, device by device. Clean energy microgrids are the future of energy everywhere. IOEN’s mission is to create and deliver digital infrastructure through blockchain and Holochain technologies that accelerate this transition for everyone.
What is the IOEN Protocol?
The IOEN protocol enables all the connected devices to act as an interconnected system of virtual microgrids that facilitate transactions within and between local energy ecosystems: from the appliance level to energy generation, storage, and consumption. IOEN forms these virtual microgrids to respond to local energy supply and to drastically cut down energy waste, thus becoming the next generation of digital energy management and optimization. This is critical because our current electricity grids cannot cope with the influx of new clean energy technologies required to reach the ambitious goal of reaching net-zero global carbon emissions by 2030. The protocol is open-source and will be available for all to build on.
What is a virtual microgrid?
A virtual microgrid is formed through the IOEN software layer to include distributed energy resources, such as solar panels and batteries, but also existing appliances like air conditioners or heaters in people’s homes. When households are in a virtual micro-grid, they are able to trade energy use-value, or even buy and sell power directly to one another, without relying on centralized providers.
IOEN’s vision is to go beyond just peer-to-peer trading. Their solution also creates the capability to dynamically balance supply and demand to ensure that the grid isn’t overloaded by too much or too little supply at a given time. This demand management is facilitated by intelligent “Internet of Things” (IoT) devices such as smart plugs, hot water tanks, and household batteries, that are connected via the IOEN network.
IOEN’s partner company, RedGrid, is already running the software in commercial projects, facilitating the aggregation of demand management and the accounting of actions that happen within the network.
Built on Holochain
The Internet of Energy Network is built on two currency layers:
- $IOEN itself (pronounced “ion”), which is an ERC-20 token used as a staking asset to unlock new minigrid economies
- A series of Internet of Energy Community (IOEC) credit systems unique for each community transacting with energy in each microgrid.
- IOEN is the first energy protocol to be built on Holochain
- The system combines blockchain with a Holochain mutual credit system so configurable smart contracts are built specifically for every new microgrid
- A network of DAOs is formed enabling the combined flow of information and value across peers in both local and global contexts
- Australian company, RedGrid, is integrating IOEN into its energy-saving app which is currently being deployed in homes with one of Australia’s largest property developers
- Proven use cases include SolarBooster and SolarMine products, improving the efficiency of solar installations and enabling up to 100% green and profitable crypto mining, paying users for using electricity at the right times.
Discounts: $IOEN tokens are used to pre-purchase energy credits for future grids at an estimated 90% reduction in future price.
Governance: $IOEN tokens are used by participants to govern the IOEN Protocol, ensuring consensus in decisions in a decentralized network.
Staking: Buyers and sellers can lock their $IOEN tokens into the system and have access to discounted tiers of IOEC (local Holochain mutual credit) which can be used to pay for energy and grid services. Staking $IOEN tokens also reduces circulating supply and opens opportunities for earning energy ecosystem rewards.
Efficiency: $IOEN is bringing transactions that aim to be faster, more secure, and more scalable than existing blockchain solutions to the energy system.
Engagement: Anyone can participate in the network by staking any amount of $IOEN with rewards available to all.
IOEN is founded by the team behind RedGrid, with proven experience in delivering distributed technology for energy, property, banking, and microgrid developers.
Click the links below to learn more about Internet of Energy Network and the $IOEN token.
*IMPORTANT UPDATE* — Change to this FlashLaunch
IOEN is announcing the implementation of an immediate staking mechanism to provide the purchasers of IOEN tokens instant access to staking and 100% APY for up to 3 months.
IMPORTANT — Before you participate in this Flashlaunch, please read the relevant details here.
Participation and Allocation
- Each FlashLaunch will have a set individual allocation of exactly $500 per person. There will be 470 allocations available in this FlashLaunch including 5 reserved for Golden Ticket holders.
- Anyone who registers during the 24-hour FlashLaunch window will be eligible for an entry to receive an allocation as long as they have either 4000+ SWAP actively staked or a SwapScore of at least 2500 when the FlashLaunch starts.
- Applicants can apply to the FlashLaunch during the 24 hours between 9AM PST on the launch day and 9AM PST the following day at https://dashboard.trustswap.org/app/launchpads.
- Once all applications are registered, a specific number of entries will be assigned to each participant based on their SwapScore or Staked $SWAP, whichever is higher (see table below). The snapshot for the ticket allocation will be taken at 9 AM PST on October 8th, 2021. SWAP must be actively staking at that time to be counted as staked.
- There will be a random drawing for the $500 allocations. The more entries you have, the higher your chance of being selected (see table below).
- Each person can only win once per FlashLaunch. KYC verification is required and jurisdictional restrictions apply.
- 5 “Golden Ticket” NFTs will be minted by TrustSwap* which will each unlock access to a guaranteed $500 allocation for this specific FlashLaunch (pending KYC verification).
*Note: Golden Tickets are not redeemable for tokens. They allow the holder to bypass the random drawing and participate in the token offering.
- These NFT’s will be initially sold at auction by TrustSwap. The auction will run until October 8th, 2021 at 9AM PST
- The top 5 highest bids at that time will win the NFT’s. There is no minimum bid.
- Whoever holds the NFT at the “snapshot” time when the launch begins will bypass the random drawing process and be whitelisted for an allocation (pending KYC). The snapshot for this will be taken at 9 am PST on October 8th, 2021.
- Only one Golden Ticket can be used per individual but those who win the drawing can also use a Golden Ticket to receive an additional $500 allocation for a maximum of $1000 total allocation possible per individual.
- 10% of the proceeds from Golden Ticket sales will go to the Eden Reforestation Project, a non-profit focused on planting trees and saving lives.
To bid on the IOEN Golden Ticket NFT, click here.
Secure Launch Process
To ensure a smooth launch, the IOEN team has agreed to:
- Have their domain fully SSL certified one week prior to token sale date.
- Have their domain protected by Cloudflare and share proof with TrustSwap one week prior to the token sale date.
- Disclose the vesting schedule of all tokens, including team, strategic investors, private presale, influencers, etc.
- Add no less than $150,000 of ETH liquidity on Uniswap immediately upon listing.
- Distribute tokens to launchpad participants within one hour of Uniswap listing.
- Lock liquidity within 3 hours of listing for no less than 60 days.
- Provide the timeline for token distributions and distribute tokens within a one-hour window of the agreed-upon time.
- Lock 75% or more of team & dev fund tokens for a minimum of thirty days within 6 hours of funding liquidity on Uniswap.
- Have at least one community moderator on each social platform (Discord, Telegram, etc.) actively available 24 hours a day for the first 7 days following the launch on Uniswap.
- At any time between October 8th 9:00 AM and October 9th 9AM PST (24 hrs), go to https://dashboard.trustswap.org/app/launchpads and click the button to apply and fill out the form.
- Applicants will be given a number of entries into a random drawing relative to their staked SWAP/SwapScore (see above chart for details).
- Winners of the draw will be contacted via TrustSwap’s Dashboard Messaging System within 24 hrs to provide their KYC documents. Once the message arrives, you will have 18 hours to provide your KYC details.
- Approved participants will be contacted again via TrustSwap’s Dashboard Messaging System with payment instructions.
- 5 allocations will be reserved for Golden Ticket Holders
- Additional 50 people selected in the drawing will be on ‘stand-by’ and will have the first option to participate if there are any unsold tokens after the initial rounds are complete including any unused Golden Tickets.
Who Can Participate?
Individuals with Citizenship and/or Residency status in the United States, China, or any UN-sanctioned countries are not eligible to participate in the IOEN FlashLaunch.
DISCLAIMER: Launchpad dates and details are subject to change. This is not an endorsement, partnership or an offer for investment by TrustSwap. IOEN is using the TrustSwap Launchpad as a customer with specific requests as to how they need their launch to operate. TrustSwap is a provider of non-custodial, smart-contract-based software services. Digital assets carry a high level of risk. Participation is performed at your own risk. Exercise caution and conduct your own due diligence.