This is the first POWR Project Escrow Report. We intend to release a POWR Project Escrow Report such as this periodically, detailing the total amount of POWR being held in escrow for active projects.
You can read more about how our escrow process works for active projects here.
As of January 2019 the cumulative number of POWR tokens in escrow for active projects is 533,066. This aggregated approach ensures the commercially sensitive information of our partners is protected.
Out of the 533,066 POWR escrowed…
- 393,803 were funded by the Project Partners and Application Hosts and purchased directly from the market, reducing the circulating supply.
- 139,263 were topped up by Power Ledger from the Growth Pool.
Power Ledger has transferred the total number of POWR tokens being held for active projects into 0x3DD7719ab702282F3972b88e4B372C6aFCC4b7eC.
In this instance, you will be able to verify the transfer of this amount to the escrow wallet using any Ethereum blockchain explorer.
The smart contract that contains escrowed POWR also contains a hash of a table, which lists all current Application Hosts and the amount of POWR escrowed for each, based on their current trading volume. This hash is a way to maintain an auditable record of the POWR escrowed per project, while obscuring sensitive commercial information.
This smart contract represents an intermediary step towards our vision for how the escrow process will eventually work. Ultimately, we want Sparkz to be minted automatically upon the escrow of POWR. However, currently the Application Hosts are not yet ready to manage blockchain interactions as such Power Ledger is facilitating this process.
Many of our projects are currently small scale trials, with huge potential. The amount of POWR escrowed for each project is a reflection of that. As the projects grow in size, so too will the number of tokens needed in escrow.
The reason for releasing this report now is so the community can track the trajectory of tokens in escrow in relation to the growing number of projects and the growing number of POWR tokens in escrow quarter by quarter.
Please note: There are projects that have been announced which are not yet included in the total calculation. These projects will be included in a later report.