Tokenized NRG is tradeable on the Ethereum blockchain!
You can now purchase NRGE on Uniswap
Uniswap is a fully decentralized on-chain protocol for token exchange on Ethereum that uses liquidity pools instead of order books. It is currently the best marketplace to swap tokens, create a market, or manage your liquidity pool as Uniswap currently holds more than 23% of the total value locked in the DeFi (Decentralized finance) space, with a current valuation at $2.8bn.
NRGE is a tokenized version of NRG that will exist on the Ethereum blockchain, allowing it to be traded on Uniswap for any other ERC-20 token. This new innovation will bring significant liquidity to NRG and will allow users to purchase large amounts of NRG with minimal price slippage.
How will Tokenized NRG function?
Initially, 1 million NRGE is minted on the Ethereum blockchain with the liquidity provided on Uniswap. Each NRGE is fully backed by NRG on the Energi blockchain with a 1:1 ratio.
NRGE can be redeemed for NRG at any time. In order to move NRGE from the Ethereum blockchain to NRG on the Energi blockchain, the minimum amount of NRGE sent must be over 1000. The swap process will be done with the support of the Energi Core team.
In the future, V2 will have no minimum amounts and the swap process will be fully automated to allow a seamless user experience. We expect to complete V2 within approximately 3–6 months. However, this is a tentative timeline and it will ultimately take as long as is necessary to release a stable product.
How to buy NRGE?
Buying NRGE on Uniswap is a simple process — all you need is ETH and the following token address to search for the token: 0x1416946162b1c2c871a73b07e932d2fb6c932069. Once you have the correct address, you can swap ETH for NRGE by clicking swap to complete the transaction.
How to convert NRGE to NRG:
As mentioned earlier, NRGE can be redeemed for NRG at any time, however, the minimum amount sent must be 1000 NRGE or more. Since Energi blockchain is compatible with the Ethereum blockchain, a user’s private key will work on both of the blockchains. Users will need to send their NRGE to the following redemption address: 0xa565dda50c6a8c556bd4b0cd3a44320aa91bc000 and Energi core team will send the exact balance to their wallet on Energi blockchain. This process will be automated in the future.
For example: User A has swapped 1000 NRGE for their ETH from the following Ethereum address 0x12345. In order to redeem the NRGE for NRG, the user sends their 1000 NRGE to the following redemption address 0xa565dda50c6a8c556bd4b0cd3a44320aa91bc000. Energi core team will send the exact amount of NRG at a 1:1 ratio to the exact address on Energi core chain 0x12345.
Since the user holds the private key to 0x12345, they have access to this wallet on both the Ethereum and Energi blockchain.
Important Warning: Do Not share your private keys with anyone. A private key generated on either of the blockchains works on both Ethereum and Energi blockchain.
Converting NRG to NRGE:
Users will not be able to convert NRG to NRGE in version 1. This feature will be available in the future.
Exciting Times Ahead!
Uniswap is currently the largest decentralized protocol in the crypto space, offering great possibilities in the world of DeFi. With the new listing of our tokenized NRG on Uniswap, we now offer users an alternative means to join our community seamlessly over the Ethereum network. This new innovation brings us closer to accomplishing our mission of mass adoption and world consciousness in crypto, and this is just the first of many exciting opportunities that lie ahead.