Here comes the MegaWOZ. Deep dive into the Efforce Beta platform and its core functionalities
After less than four months from WOZX token launch, we are proud to unveil our first public product iteration.
In a constant effort to bridge the gap between the retail market and energy efficiency, we spent the past few months designing a product roadmap which will help create an increasing understanding about a rather complex, multi-party ecosystem.
Let us take a look at some of the core components of our Beta together with their function within our ecosystem.
The MegaWOZ (MWOZ)
Backed by Megawatt-hour of energy saved in the real world, MWOZ is our internal credit system which will be used to reward contributors for their participation in energy efficiency projects and commoditize the savings generated. During the contribution phase, users will be able to see their Future MWOZ balance which generates from their USDT financing. Starting from the end of the industrial implementation those future credits will begin actualizing into the users’ MWOZ Balance.
MWOZ accrued by contributors will be tradable between participants starting from our next platform release. As a matter of fact, seamless trading of MWOZ will bring the ecosystem closer to the commoditization of “negative” energy (savings) and all its derivatives.
The Genesis Pool
In order to kickstart the network’s first pipeline of energy efficiency projects, we decided to create the concept of Efforce Pools.
A Pool is effectively a collection of projects which will be fundable for a set period of time. The projects bundled in these pools are already pre-determined before the start of the contribution phase.
In order to better understand our architectural design decisions, we need to look at a Pool’s Lifecycle (similar for single projects).
- Pre-Listing Selection and Auditing
- Contractual Engagement and EPC Structuring
- Listing and Contribution Phase
- Implementation Phase
- Farming Phase
As Efforce first official listing, we still do not have enough data to benchmark the contribution volume, or similar relevant metrics. For this reason, we decided to create Genesis with a small gamified twist.
At the start of the Contribution phase, all projects we selected for the first pipeline will not be revealed to the public. Participants will only know their expected number of MWOZ credits and the TONS of CO2 emissions avoided with their contribution. The brand names will be made public as soon as we hit the single project’s funding goal.
Genesis Pool has a cumulative duration of 6 Years.
When contributing, it is important to note the fact that your WOZX will be locked for the whole Pool duration. However, as soon as the MWOZ becomes tradable, it will be possible to exchange the participation (partially or in full) with other peers.
The Avoided CO2 Emissions (ACO2)
This particular core metric is something we are truly proud of presenting to our ecosystem.
During an historical moment in which the world’s conscience is waking up to the scary call of climate change and companies worldwide are expanding their investments in the ESG sector, we believe it is crucial to understand and visualise the impact of our contributions.
As a matter of fact, reducing energy consumption by structural upgrades, generates a steep reduction in the emission of CO2 into the atmosphere.
Thus, “Negative” CO2 will also be tracked and credited to the contributors positions in order to add an additional tradable commodity within the Efforce ecosystem.
Evolutions of our Ecosystem
Our work towards a sustainable future has just begun. Today marks the first crucial step in this journey and we are thrilled to receive so much support from our global community.
Having said so, EFFORCE roadmap is still incredibly dense with upgrades and new features.
Some of the upcoming features we will release in the next version
- Staking and Mining
- Direct Project Listings
- Trading the Commoditized Energy Savings
- New Open Protocol
Stay tuned!
