WePower (WPR) is a platform that seeks to connect energy producers and suppliers with corporate buyers for easy green energy transactions. Green energy means utilizing natural resources like solar, wind, hydropower, etc. The platform serves as an easy way for corporations to access green energy from local producers.
According to the whitepaper, the energy suppliers and producers can run their auction on the platform, and energy buyers place bids according to their requirements. On a successful bid, both parties settle on a contract as per the product, price, volume, and term. Smart contracts and tokenized energy help the platform to execute and manage transactions. Tokenized energy means encouraging people to trade in clean energy projects and generate funding for projects via trading. Further, to seek to ensure transparency and decentralization, the platform uses blockchain technology. Besides, the technology also aims to keep the data untampered, accessible to the party, and remain distributed globally on the network. The platform used proof of technology (PoT) to check compatibility with the Ethereum blockchain. The PoT tests give the idea of whether technology can work for the project and save time, research, and energy. With such steps, the platform wishes to solve a global problem of climate change that has raised Earth’s temperature by 1.50 Celsius, increased droughts, heatwaves, floods, and poverty across the globe. The platform aims to encourage the world to move toward sustainable energy.
WPR is the native token of the platform that follows ERC-20 token standards. The users can utilize WPR tokens throughout the network. Also, the users can earn WPR tokens from the energy donation pool. The donation pool receives 0.9% of each successful bid between the energy producers/suppliers and buyers. When WPR holders register themselves on the platform and share the WPR token wallet address, they receive their share of the pool. Moreover, WPR holders also get access to renewable energy auctions. The participant needs to maintain WPR balance during the bidding process to offtake new projects.
