Our inspiration was the purpose and positive impact of the #Connect2Evolve project that aims to use innovative technology and help the people in one of the least developed parts of the words. The chance to come up with a solution that will enable maximal utilization of the necessary equipment that now is available to those people in need is something that has driven us to come up with this solution.
What it does
Our model explains the flows of value created through energy consumption (information, energy, money) that maximize the usage of the container. By donating into STO donor is qualified to receive Impact Tokens based on the ration between his and sum of all donations (the price of the Solarcontainer). This enables a donor to have a transparent overview of the impact his donation will have during the lifecycle of the Solarcontainer.
Once the container is installed, the energy will start to be producing and that is the moment when the community may be able to take the benefits of it and start purchasing the electricity. Users can prepay for electricity usage by using the FIAT or crypto and once they do that, the paid amount will be converted into the DAI and will be saved as Deposited Funds (see chart). The amount of electricity that is used by a specific user is tracked on the Smart Meter. Those data are automatically being sent to the SolarContainer and based on kWh used and price of the kWh (depending on demand/supply) adequate amount of Deposited Funds (DAI) will be sent to the Revenue pool. Revenue pool share will be allocated to the Grant Pool and also shared between the Contractor and Operator.
In the meantime, while electrical energy will be used and DAI tokens transferred to the Revenue Pool additional process of minting the Impact Token will be happening. Based on the Smart Minter data and kWh that are spent, Impact tokens will be minted and distributed to the users and donators (1 kWh = w IT - impact token). The user that spent the electricity will receive half of the IT tokens, while other tokens will be distributed to the donors, based on the amount of their donation.
How we built it
We built it starting from our Token Business Model Canvas while continuing developing the token design. After we mapped everything we started designing token model and making assumptions about how the model should function and incentivize all stakeholders.
In order to test our assumptions, we made cadCAD simulation where we simulated some situations and confirmed our model should work as desired.
Challenges we ran into
We run into the challenge of incentivization the different stakeholders in the system who have different needs. Ones having to receive a utility token for their service that they are providing to the ecosystem (Constructors & Operators), others willing to pay for the electricity using both crypto and FIAT and the donors who just want to have the transparent way to overview their donations and make sure that they ended at the right place.
Accomplishments that we're proud of
We are proud that we design a system that allows:
- Investors to be able to view the real impact their donation is making, while also allowing them to take part in a voting system
- Users to purchasers electricity based on the real-time demand/supply and also be able to decide how collected funds will be distributed (spend) ## What we learned We learned that it is really important to design a token system in order to work together with people's daily habits. This way we can make a token system and token model that is totally usable in world use cases. ## What's next for MVP
- Fundraising Platform
- Government Relations
- Third-Party API integration (expand token simulation models, e.g. weather forecast)
- Infrastructure & Equipment Installation