AMA Recap: Solareum
Date: September 14th, 4pm UTC
Host: DeFiNaut
Guest: Corey Macmichael CEO, David Donovan CTO, Broc Chab CMO
🦝 Hello, Raccoon family and crypto enthusiasts! We recently hosted an AMA with Solareum. Here’s the AMA transcript for those who missed the live session. We sincerely hope you have as much fun reading it as we did running it with the team!
Table of Content
∘ Introductory Questions
∘ Community Questions
∘ About Solareum
∘ About Crypto Raccoons
Introductory Questions
DeFiNaut: Hello everyone and thank you for joining us today at the Raccoons for our crypto educational session none other than Solareum!
Now grab your pop-corn, nuts, berries or insects and let’s meet the core team of Solareum; Corey MacMichael (CEO), David Donovan (CTO) & Broc Chab (CMO) *wait for applause*. Solareum is pioneering Proof of Generation (POG) validation technology on the world’s first sustainable layer 1 blockchain.
Feel free to check out their website at: https://www.solareuml1.com/ and check out their twitter: https://twitter.com/SolareumChain
Welcome Corey, David and Broc , please introduce yourselves briefly to the Raccoons!
Corey MacMichael (CEO): Thank You very much for the warm welcome! I am Corey, the Solareum CEO- or ‘Flushy’ as you may know me on Telegram and Twitter. I am really excited to be here and to share with you all about Solareum.
DeFiNaut: Ok, let me give you a warm welcome from all of our Raccoons around the world, do make yourself at home!
To kick things of I would like to focus on your seemingly hollistic “green and sustainable” value proposition — I have not encountered projects that build this into the base layer. Can you briefly tell us more about your mission? We’re looking for a summarized elevator pitch here!
Corey MacMichael (CEO): Yes, certainly. At Solareum we believe in a green future. In a world with an ever growing adoption rate and shift to a more green and sustainable future, we feel it’s critically important that technology is able to grow with the industry and support it in a sense.
There’s an ongoing energy crisis globally, with the risiing cost of electricity/centralization/inflation in addition to the environmental impacts of fossil fuels, etc- that is driviing a shift to a more green future. Being crypto enthusiasts, and visionaries we realized a very unique position to bring together two of the fastest growing sectors being that of Blockchain Technology and Renewable Energy. We’re all aware of the critiques Blockchain and crypto receive due to the intense power consumption it takes to mine, say BTC as an example. Governments are starting to crack down and regulate how and who can mine- and the impacts on the environment are at the forefront of those discussions. Thus, it was very important that a solution is born that promotes the growth of both industries, while being true green end to end.
This is where Solareum was born. We have innovated our proprietary Proof of Generation consensus mechanism in which validation is based on energy production principles. So no longer do we have to rely on server farms to power blockchain, we’re changing the script- and validating our blockchain with off chain computing through our proof of generation, and based completely on the power generated from renewable installations. Whether that be large corporate installations, micro grids, or a consumer at the household level as well.
DeFiNaut: thank you that’s a solid write-up about the core idea and origin behind Solareum! Definitely a lot to digest in there, and I’m sure we’ll dive deeper on several different topics throughout the ama. If I can remark one thing is that you definitely have the momentum going! Governments worldwide are focusing more and more attention to renewable and green energy. It’s something we can’t ignore anymore, so I do believe you’re in the driver seat with this one, especially since the collection of projects that really focus on this are only a handful I would say. It’s even hard to find them!
Corey MacMichael (CEO): Yeah its definitely a sector that isn’t diluted right now. There are a few in the space already, that have their specific niches. WE’re excited to be in the position we’re in to be able to grow with the industry, educate, build and collaborate- to facilitate to a sector and offer technologies that don’t exist today but are beneficial to the entire shift of paradigm
Broc Chab (CMO): In addition, we believe we are in a perfect position to take advantage of the incoming wave of innovation when it comes to the renewable energy sector.
Here is some information regarding the growth of the renewable energy sector in the coming future:
DeFiNaut: Ok so let’s hear about the team building Solareum. What’s the core team’s background and do you have crypto history, how many developers do you have on the team? Any notable advisors or VCs onboard?
Corey MacMichael (CEO): So I am an Electrical Engineer/Computer Scirence Major (by trade). I’ve been working in the Global Telecommunications Software space for over 15 years, in mid to large markets. I’ve held various capacities such as Quality Assurance, Consulting, Management, Architecture, and DevOps. Through the years, i’ve worked with many large billion dollar+ corporations from all sectors including Government, Energy/Utility, Financial/Banking, Health Care, Education — to name a few.
I broke into crypto in early 2019 mainly as an investor, but through the years met some pretty incredible and intelligent people that allowed me to expand my network and get connected with teams and individuals that afforded me opportunities to assist in some advisory capacities as it relates to marketing,growth, innovation, etc.
The team here at Solareum are very tight knit. We’ve all known eachother for a few years, with the exception of a couple new notable team members, and have grown to be very good friends outside of the Telegram and Crypto world. This facilitates a very unique relationship within the core team as we’re all business but can have some fun while being laser focused on the growth of Solareum.
At present, our core team consists of 10 individuals. We have, obviously, the 3 of of. But we also have a BD team of a couple folks (Sam and Josh), Our head of community (Chris) and Xun as our Strategic Advisor. In addition we have our development team led by Samuel Reid as our Chief Enterprise Architect and Thomas Smith in his advisory role.
As far as advisors are concerned, we are partnered with Anonymous Marketing who work very closely with Broc and the team on all things marketing as well as Alpha Advisories in their consultancy role to facilitate conversation with VCs/Angel investors, and other equity opportunities.
Dave is tied up on calls so i’ll give him a not so humble introduction. Dave (the_FAQ) has been in the technology/software development space since before Dinosaurs walked the earth. He has extensive business background in the technology sector, from consulting, management consulting, senior management, and Executive VP roles. He has lead teams of 100+ globally throughout his industry and has contributed to growth of billion dollar companies to multi billion dollar companies. He’s been in crypto for i want to say 10 years or so. I think he may have sold BTC for Pizza back in the day too. But similar to us, he’s been involved from advisory roles on certain projects, to building tech, and helping drivve innovation and technology.
Broc Chab (CMO): Over the course of 20 years, I have garnered extensive experience in sales and marketing in various sectors ranging from renewable energy products to real estate. I built up and still currently own two businesses that operate independently at this point which leads me to focus primarily on Solareum as the CMO.
I also was introduced to Crypto back in 2017. Mostly from the investor side at that point, but quickly began to use my talents of sales and marketing to build a network that I have been able to utilize today to bring more exposure to solareum.
DeFiNaut: I know every member of the Raccoon community, and not only me, would love to hear more about this thing called the “SURGE” you have going on! Can you describe the contents of the program, if we are too late to join and finally why we should become long term HODLers?
Broc Chab (CMO): Absolutely! So the surge is a jampacked week full of announcements and marketing design to garner more exposure and create more of a presence in our crypto space and also outside crypto.
For example, The last SURGE we held a London takeover with billboards all across the heart of London Garnering over 1 million views per day. We also had multiple YouTube videos and TikTok videos to spread awareness of SRM! We have done two SURGE events thus far and are preparing for our Next… shortly ;)
Broc Chab (CMO): We’ve done a significant amount of marketing around our surge events. We’ve announed things like our Incorporation, Doxxed the entire team, London takeover, social media reviews/posts, PR, etc etc. just to name a few
DeFiNaut: So while the marketing is on point, and it catches a lot of eyes, the tech also has to check out right. And reading more deeply into Solareum is what got me the most excited. Notably you’re building a layer 1 from the ground up, all about renewable energy, with a novel consensus mechanism (proof of generation) and last but not least the whitepaper is being written by Sam Reid, who is infamous for his work on IOTA. So currently there’s a lite paper, but soon you’ll be providing a more elaborate and technical white paper right.
Corey MacMichael (CEO): Well, not only is the WP being written by Sam Reid. Sam Reid is our Chief Enterprise Architect, and on our core team. So he’ll be leading the way with a full dev team to build out the layer 1.
Yes absolutely.. The ELABORATE whitepaper is just around the corner. I hate to sound cliche but its soon. but soon soon. As you could imagine, there is a significant amount of mathmatics that goes into building a blockchain, prooving that math, and ensuring there are mathmatics to secure the chain (and prove those mathmatics)
DeFiNaut: OK so let’s talk a bit about existing partners or potentially upcoming ones. What can you share with us regarding Solareum’s partners and what’s your best ‘asset’ from this point of view?
Broc Chab (CMO): One of the first partnerships that we acquired was with alpha advisors. They have been instrumental in helping reach out to angels and Vcs and also like minded projects in the #ReFi space for partnerships.
We have already begun having very warm discussions about our tech, proof of generation validation consensus mechanism, with both VCs and other projects and how PoG could be implemented with them. We also acquired a partnership with anonymous marketing. They have been working hand-in-hand with me and the team to assess what is the best way to create exposure for the project. We also have had several partnerships with ambassador‘s.
Corey MacMichael (CEO): So while we currently have the announced partnerships Broc just mentioned. We are constantly working with our BD team in the background on other opportunities as well. I will have to talk quite vaguely about this, as I think i’ve signed about 9 or 10 NDA’s just this past week. But nonetheless, we’ve been in discussions with corporate entities about our technology and have advanced through multiple rounds of ‘sales pitches’ and have penetrated more in depth technological conversations. We are working closely with a couple entities right now that have a very specific set of requirements to meet regulatory needs as well as industry needs- and those conversations are propelling us into the production market in terms of our MVP on chain what that will look like (MVP = minimum viable product). These are direct energy companies with massive installations in the region we’re speaking to them on, as well as globally- so we’re very excited about these types of opportunities.
In addition, we’ve been in conversation with multiple crypto projects as well that are either in the renewable space, or have a direct impact on this industry. Working together to find synergies that make the partnerships make sense for both parties.
At the end of the day, we’re not out here looking for a partnership for the sake of a partnerhip. We want to collaborate and work with these businesses to build a solution that is mutually beneficial and solves a (or multiple) real world use cases. I mean, there’s the obvious partnerships that you will need when building a layer 1, like marketplaces/swaps/dex, etc. But im specifically talking external to the obvious ones.
I will probably get hit for saying this right now, but we’re very close to closing a partnership/acquisition that brings immediate utility to the ERC20 token, and will apply/be expanded into our layer 1 blockchain as well.
So lots of exciting conversations on our side. our BD team is sleeping equally as little as Samuel is with his WP endeavor.
DeFiNaut: Now we have to ask about the partnership with Geometric Energy and the upcoming space art displays that will be launched by SpaceX! What’s that all about?
Corey MacMichael (CEO): We’re all aware of who Samuel Reid is at this point i’m sure. If you’re not, go check our website, all of our linked In’s and twitters are there. You can look him up if you need to…. but
We do not, and will not, EVER.. use an idividual as klout to promote what we are doing. Samuel is a well respected individual in his field of work and is part of our Soalreum core family. That said, Yes, Samuel owns GEC and is the active CEO (Geometric Energy). He is a mathmetician by trade and a veteran in the energy space (no pun intended). He is partnered with, and has worked with, companies such as SpaceX. He has designed and paid for, the doge-1 cubesat satellite which will be launched into space on Nov 15 via the SpaceX Falcon 9. The falcon 9 is a reusable rocket, and the most “eco friendly” rockets built to date. Aboard that rocket, will be a Solareum digital ad payload. We will spend 1 week in earth orbit, and 1 week in lunar orbit… the satellite is equipped with a billboard in which Solareum will be advertised in space as the very first layer 1 blockchain to do so.
In addition, this satellite “beams” down our digital ad to billboards across the globe (times square, tokyo, london, paris, miami, etc… to name a few). as well, this package also comes with PR directly from SpaceX and partnering firms. So we’re very excited to support Samuel on this mission. and he’s equally excited to cross promote us on this mission as well.
DeFiNaut: With that in mind, let’s conclude this part of the educational interview by letting the Raccoons know what your next milestones are on the roadmap? Feel free to add any teasers or alpha!
Corey MacMichael (CEO): First and foremost is the whitepaper. The whitepaper is our gatekeeper right now to further advance ongoing business developments. As you could imagine, with proprietary innovation such as proof of generation- there are protections that need to be put in place. Yes, we’re incorporated. And that was for very specific reasons. We are in the patent process, there will be trademarks, there will be copywrites. All of which requirement a published whitepaper to complete those processes. So if you read between the lines, there is about 4 items in the immediate roadmap.
In addition to this, we hope to be able to announce some partner projects/corporations shortly off the heals of the whitepaper publication.
And not to steal the thunder from Broc, but we have a VERY cool marketing campaign about to start here end of this month to help spread the word about Solareum. We’re super excited for this, so stay tuned for that news once we’re able to announce (likely within the week). Soalreum isn’t stopping! We’re going on tour….. 😉
Community Questions
Q1: I read that Solareum ecosystem will have just 151 NFTs comprising of Tidal, Wind, Solar and Fusion Tier NFTs. Could you briefly describe the rarity levels and characteristics of each NFTs? What will be their use cases and do they have any passive income opportunities? Lastly considering that the Fusion NFTs is just one, who gets it?
Corey MacMichael (CEO): So our NFT’s. We have 151 of them. We have 4 tiers: Tidal, Wind, Solar, and Fusion.
Holding an NFT grants you a dedicated validator on the Layer 1 blockchain, irregardless of your token holdings. So i mentioned proof of generation earlier, we also have a secondary validation called Proof of Holding- where essentially if you hold X% of SRM tokens you help secure and validate the blockchain just through holding. Well, these NFTs deligate you as a POH validator just for holding.
Tidal — these minted out at 0.05eth a piece, and there are and will only ever be 50 of them. These NFT’s (while the art is super cool) are utility NFTs. They offer you a 10% accelerator bonus on the layer 1 blockchain validation.
Wind- these minted out at 0.09eth a piece, and there are and will only ever be 50 of them. Again like Tidal, are utility NFTs. They offer you a 15% accelerator bonus on the layer 1 blockchain validation.
Solar- these minted out at 0.19eth a piece, and there are and will only ever be 50 of them. Again like Tidal and Wind, are utility NFTs. They offer you a 20% accelerator bonus on the layer 1 blockchain validation.
And lastly we have a 1 of 1 NFT in the Fusion tier, that we sold in a week long auction that went for 14eth. This single NFT affords you a 30% accelerator on the validation rewards on the layer 1.
We also allow you to “stack” 2 NFTs per wallet so long as they are from different tiers. So holding a Tidal+Wind would get you 25% accelerator (10% + 15%). You can stack any 2 NFTs from any tier so long as they are from different tiers to build your accelerator.
Again, these are utility NFTs. But if you think about the secondary market for these once we start onboarding businesses and consumers into our POG consensus… these all of a sudden become extremely valuable (or could).
Q2: Could you share an inspiring story or a touching example of how Solareum has had a positive impact on an individual’s life or on a specific community? How has Solareum changed someone’s life for the better, and what is the potential for this impact on a larger scale?
Broc Chab (CMO): I’ll take this one!
This is a great question! I like it because it really gets down to the purpose of what Solareum is all about. The potential impact on the larger scale that Solareum can have on the community is quite profound.
Countries such as the Netherlands have been hit rather hard with increasingly rising energy rates. The current structure of centralized manipulation of energy grids and power structures is not sustainable and cannot take us into the future.
With proof of generation technology not only are we revolutionizing how to power a Blockchain but we are also incentivizing producers to switch to renewable energy generation. This not only is for large scale producers such as solar, wind farms etc but this for the individual at his house with solar panels on his roof.
Buy decentralizing the power structure and rewarding INDIVIDUALS for producing renewable energy, I believe that we have a very powerful incentive and disruptor to the current structure. This ultimately benefits everyone worldwide!
Q3: Can you tell us more about the tokenomics?
Corey MacMichael (CEO): AS it exists today, we are an ERC20 Token. We launched on April 25th. We held a private sale in which we raised roughly 54 eth and a public sale on Gempad in which we raised 62 eth (give or take).
The ERC20 is a 100m Total Supply, 5/5 Tax token with auto-LP injection and development/operational allocations from the tax. We launched with roughly 33M tokens in circulation.
We have what we call auto-mining. In which every 12 hours, a % APY is airdropped to holders of the erc20 SRM token proportional to their token holdings. The APY halves systematically every 60 days.
When we launched, we had an APY of 2801%. 60 days later we reduced to 1400%. 60 days later we reduced to 700%. We’re currently about 16 days or so into our 700% APY. What this means is you earn roughly, 0.23% of your holding daily, just by holding.
There is no staking fee, no gas cost, no lockup period, no additional financial burden on you as a holder. SImply hold your tokens in MM or TW or whatever digital wallet you use, and watch your tokens grow through the auto-mining every 12 hours (airdropped at approx 12pm EST and midnight EST each and every day).
This auto-mining features continues until all 100M tokens are into circulation. Today, we have about 80M of the 100M tokens are circulating. The idea behind this was to carry our holders through our journey with us. To educate along the way, and increase their holding %. Because when mainnet goes live, we will be migrating our holders 1:1 in dollar value of the erc20 tokens to the SolareumChain layer 1 native token.
Q4: Can you tell us more about automining?
Broc Chab (CMO): This is a great question! I believe the team has done a fantastic job in delivering an overall value proposition to the community that has been digested and accepted. By being an early Holder of Solareum you are incentivized to hold to take advantage of our AUTOMINING REWARDS.
What this means is for holding SRM, you are earning currently 700% APY on your holding size! This equates to roughly .23% per day on your holding!
Normally you would think that there would be significant sell pressure on a chart with that much APY, but if you look you will see that everyone is holding and and taking advantage of the APY to increase in their bag size in preparation for the layer one block chain.
When our Blockchain is ready everyone will get 1–1 DOLLAR value onto the layer 1! Now, I don’t really like to get too much about talking about the price of the chart however I will say that the chart does exhibit signs that the community does believe in the value long-term and vision!
About Solareum
Take control of your renewable energy with Solareum. We believe in a world where you have the power to decide what happens with your energy, without any middlemen involved. Our platform, Solareum, enables you to generate renewable energy and use it on your terms. No more limitations on how, when, or with whom you use your energy. Join us in our mission to create a decentralized and eco-friendly future with SolareumChain, the first peer-to-peer renewable energy blockchain. Together, we can make a difference for the environment and society.
Telegram: https://t.me/SolareumChain
Twitter: https://twitter.com/SolareumChain
Website: https://www.solareuml1.com/
About Crypto Raccoons
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