Step-by-Step: Accepting Your EACs and What to Do Next
We’re about to open our Energy Attribute Certificate (EAC) bridge and close the giveaway that we’ve been running to celebrate that launch with our community. We want to make sure that everyone knows how to accept any EACs won as part of that event and how else they can use these assets.
We’d like to thank every member of our community who helped Jasmine make it this far and hope that you will continue on our journey to improve the infrastructure for financing clean energy infrastructure.
Your feedback on the product experience is important for our collective progress and growth. You’re the first people to see our dApp and your feedback will help us improve it. If you have any questions, comments, or ideas about how we can improve it, please share them! We’ll be doing a live support AMA in our Discord and have a support chat therefor any problems.
How to Accept EACs
Go to the Bridge Section
Any EACs won during our launch events or by bridging EACs from a legacy registry can be accepted in the “Bridge” section of our dApp. Go to app.Jasmine.energy and click “Bridge” on the left side menu. Note: The dApp is currently only available on desktop. If you’d prefer to be able to connect from a mobile version, let us know!
Connect Your Wallet
You’ll need to connect your wallet to see any EACs you have available to accept.
If you don’t yet have a wallet, we recommend using the Coinbase Wallet (made by our fellow YC company Coinbase) or the Metamask Wallet. At Jasmine, we all use Ledger Wallets which are great, if expensive, hardware wallets.
Use The Polygon Network
Our EACs are currently only available on the Polygon network. If you’d like to use your EACs on another network, let us know! We’re actively considering a short-list of other chains to support and we will take community feedback to heart.
In the meantime you’ll need to switch to the Polygon Network if your wallet is connected to a different one by default.
Click the “Accept” Button
Once you’re on the Bridge page with your wallet connected and on the Polygon network, you’ll see all of the EACs that you’ve won or bridged-on in the “Incoming Assets” table. Each set of EACs will have their own “Accept” button. Clicking that button will initiate a transaction to “mint” the Energy Attribute Tokens (EATs) that represents your EACs as a Non-Fungible Token (NFT) and move that EAT into your Polygon wallet.
Check For the NFT in Your Wallet
After completing the mint, the NFT(s) should be in your wallet. To confirm this, you can go to the “Redeem” page of our dApp.
On the Redeem page, you should see a table showing the EATs you minted in your wallet. If you don’t see it, go back to the Bridge page and try to “Accept” it again. If that doesn’t work, please reach out to us on Discord.
Having Trouble? You’ll Need MATIC
If you’re having trouble, and are using a new wallet, it might be that you don’t have any MATIC in your wallet. To accept your EACs you’ll need at least a small amount of MATIC in your wallet. If you don’t already have some you can get it using an on-ramp like Moonpay. If you’re not able to get Moonpay to work, reach out to us in our Discord.
Redeem or List Your EAC (Optional)
If you’ve made it this far, you have successfully accepted your EATs (Congratulations!). Now what can you do with it? We plan to integrate our tokens with popular DeFi protocols so that they can be used there, but since the bridge just launched, none of that has happened yet. Today, you can either “Redeem” it or list it for sale.
Redeeming a EAC means that you permanently attribute the social and environmental benefits of the renewable energy generation to yourself or a designated beneficiary. This action is irreversible and burns the NFT. Burning a single EAT means that more than 100 of your crypto transactions can be powered by renewable energy.
To redeem your EAT/EAC, on the “Redeem” page of our dApp and click the “redeem” button for the EAT you’d like to redeem.
If you choose to list your EAT for sale, you can do so on any NFT marketplace, but we recommend OpenSea. Shortly after launch we plan to set up a project page there.
What price should you list your EACs for? We don’t know yet! Because these are the first energy attribute backed tokens, there’s no established market price. That lack of market price is exactly the problem that we plan to tackle next.
What Next?
Our next two releases will make it easier to exchange and price these tokens. As NFTs with unique attributes (vintage, geography, fuel type, etc) it’s difficult to create the kind of liquidity needed for price discovery. But in the case of EACs, these problems are solvable.
First, by building reference pools. These will allow EACs that share common attributes to be treated as fungible. Users can deposit EACs in to these pools and receive a fungible ERC-20 compliant Jasmine Liquidity Token (JLT; pronounced like “jolt”).
All bridge EACs are Green-E certified and Jasmine is a Green-E Certified exchange. This means you can trust that these are verifiable, auditable EACs which can be redeemed to attribute more renewable energy to your grid tied operations. Jasmine ensures the validity of these EACs so you can focus more on selecting the attributes that are important to you. For example, if you’re selecting EACs based solely on vintage, then any EAC with that vintage will do; for that buyer, they’re fungible. That fungibility can create liquidity.
Second, we’ll be setting up Automated Market Makers (AMMs) for exchanging JLTs on Decentralized Exchanges (DEX). These always on exchanges will create the price signals needed to connect energy attributes to the rest of the Decentralized Finance (DeFi) ecosystem.
To learn about any giveaways surrounding those launches in our Discord.
Thank you again to everyone who has helped Jasmine make it this far and who will help take it even further together.
