🚀 Solar DAO: Annual Report
The key events and goals covering the period from July 2017 to July 2018.
Dear Solar DAO Community,
We are totally proud of working with such smart and supportive people like you. We always like to share the news with our participants and, sure, take the constructive criticism. Our project was made to find like-minded friends willing to change the way that renewable energy is going. So we want to thank everyone for the participation and understanding, it is really important to provide solar energy with any contribution you can make. Our mission is to find the most beneficial PV solar projects and implement them, your mission is much more global. Thank you!
The idea of Solar DAO was born in 2011.
That time I was working in the investment company “RusEnergoInvest”. Together with “LG CNS” we were implementing large photovoltaic solar projects. Suddenly, I came to understanding that when large investors, companies, and funds can invest in the solar plants’ construction, retail investors, I mean, the ordinary people who are not accredited as investors — cannot afford to participate in such solar business.
Of course, any person can build a small power system for his house. But what if you don’t have a private house, you know that household solar farm has a pretty low yield, and your government is not so RES supportive?
Unfortunately, I didn’t know about the Blockchain technology in 2011, and there was no any Ethereum. Even its origin. :)
In the autumn of 2016, I became interested in crypto technologies. I had started self-education and learned almost everything about it: its work principles, types, and so on. I also met with the first blockchain developers. Next, I understood that this technology can be used for my long-standing idea of giving anyone the ability to participate in the solar industry growth.
White Paper 1.0
The whole winter of 2016 was devoted to the idea development and White Paper writing. Already in the spring (2017), we finished the first concepts, which have been tested and discussed with colleagues from The Token Fund, Emercoin, and some other projects. In April 2016 White Paper was completed, and in the summer it was shown to the first early participants. We planned to launch the ICO.
The presale was scheduled for the period from July 27 to August 31, 2017, and we finally decided to continue it till the September 9. After the presale, we made several attempts to have loud marketing to win something for our project, I mean, marketing tests, but everything worked out to zero. Thus, we have the experience for future marketing strategy: saving funds is better than boosting silly campaigns.
We have been preparing for the ICO for a long time. We tried to find a way to structure the company in order to conduct a legal ICO, well, or at least approximately legal. None of the ways was suitable for us. It took a lot of time to work with more than 10 different law companies trying to find the Eldorado.
We want to pay special thanks to the following Lawyers and Companies helping us to solve the issue:
1. White Stone Digital: https://www.linkedin.com/company/white-stone-digital-inc./
2. CoinOffering: https://coinoffering.github.io
3. Hassans: http://www.gibraltarlaw.com
4. GSL Law&Consulting: http://gsl.org
5. Ormco: http://www.ormcogroup.com
During this time, we were also trying to change the concept of Solar DAO to fit the conditions. Finally, we found the best option and stayed in the idea.
Solar DAO’s ICO was scheduled for October-November 2017. We moved it to the winter of 2018 because were busy on the legal structuring. After all, it was completely canceled. There are 1'172'767 SDAO released and no more tokens will be issued. We chose 2 crypto-exchanges for listing our tokens in order to make it usable and not so expensive (some of the exchanges take the listing fee up to the 40 BTC).
The Current Course
The main efforts of our team are strongly focused on the PV projects selection and implementation. Solar DAO will be a central part of the future Fund: a real legal structure for the serious solar project as it should be. And will be so.
We are glad that could finally connect crypto-opportunities with real legislation.
Dmitriy Solodukha — CEO and Founder of Solar DAO.
Key Milestones: 2017 — July 2018
- July 27 — September 9. Pre-ICO;
- September — April. Legal structuring;
- September — Now. Project selection and implementation;
- October 15. SDAO marketplace release;
- December. First tokenholders’ voting. Listing on the exchanges (YoBit, IDEX);
- January. Road Show;
- February. ICO canceling, new course taking, AMA session;
- March. KYC procedure starting;
- March-April. Start of preliminary work and implementation of Kazakhstan and Portugal projects;
- May-July. Kazakhstan tender preparations and participation, Portugal grid connection point getting.
In this short period of time, our team has gained a lot of experience and success. The main important goal is the legal structuring finalization. Comparing more than 50 different ways to be incorporated, we stopped at the most convenient one, in our view.
Thus, Solar DAO now has the following legal info:
Business name: GOTOSOLAR OÜ
Address: Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-K490, 10119
The company is already registered and now we are working on opening a bank account. At the same time, we prepare documents for obtaining the needful licenses. We expect it will take 2–3 months to receive licenses. Based on the results of this work, we plan to:
- Coordinate KYC / AML procedures with the Bank;
- Get the licenses allowing us to exchange cryptocurrency and storage it;
- Conduct test operations with the Bank’s concern;
The Solar DAO project participated at the Roadshow made by the Monaco Growth Forum in January 2018. Solar DAO has been represented to over 200 investors (Family Offices, Private Investors, and Funds) in 5 major financial centers of Europe (London, Zurich, Geneva, Lugano, Milano). We got positive feedback and began to work with the people we met.
Within the first year, Solar DAO has doubled its Community several times. We have more than 2’000 members on our Facebook page, more and more friends are joining us every day. As our last poll shows, Solar DAO Community is a really strong group of people connected by our positive mission to change the future and help renewable energy growth. We care that you are not bored in staying with us, while are waiting for new Solar DAO records in fresh reports :), so we come up with different contests and events. We seriously intend to hold an offline Solar DAO event this year!
Our special thanks are to our contests participants. With your help, we now have a future logo, lots of memes, and even live trees! That’s the best attitude to participate actively.
Surprise. We want to share a small present with our dear Community.
Here is the Solar DAO Telegram Sticker-pack. https://t.me/addstickers/SolarDAO. Take it, it’s free. :) Hope it will be useful in your conversation about the environment. Thank you for the participation and support, friends.
Better Not to Hurry
We understand that Solar DAO can seem to be much slower in comparison with other blockchain projects. We are also very pleased that our community understands the real state of things and supports us in our way to build solar plants, taking into account all possible risks, and doing it carefully.
I. In order to save the funds, we previously decided not to buy a solar plant in operation to test dividends payment. The cost of a PVS in operation with under 30 kW is comparable to the cost of building a PVS 1 MW (1000 kW), and their average return (ROI) is about 7% per year. For the sake of our participant’s benefit, we are to construct the solar power plants from scratch.
II. So, no test distribution of dividends was made a month after the end of the Pre-ICO. According to preliminary estimates, it would have been about 0.225% of the participation amount. Plus we need to take into account all of the transfer fees.
III. One can also complain about our first Kazakhstan results. Solar DAO team made a huge work in the unreal short way and found a partner to provide the $300’000 financial guarantee in order to participate in tariff bidding. Unfortunately, the final suggested tariff was not suitable for our needs. That’s why we preferred to attend the next Tender in Kazakhstan with 12,5 times bigger quota (250 MW) which will take place in October 2018.
Bonus: We have already started to select additional profitable opportunities for construction in Bulgaria, Asia, and the Middle East.
As we have previously said, Solar DAO doesn’t support the usual way blockchain projects make their marketing. We are aimed to make it classic: provide people with useful content, find suitable partners, doing PR. Each of you can take a part in this campaign by following and reposting.
Nevertheless, we have boosted our marketing last month. During the August we want to refresh the information about our project on Crypto-Relevant platforms and websites.
Here is an example data of our Facebook page statistics, which will be just the only start of our marketing (July 2017 — July 2018):
256 Posts, 5'247 Likes, 1'938 Shares, 2'108 Fans.
Besides, we’ve achieved 2'300 views to our Youtube announcement video
During this year, our team took its time to attend a few ecxhibitions, and also to conduct an educational meetup.
We plan to attract more people to join our project and to reach the mark of 3000 members by the end of 2018. Solar DAO will not pump the token price, as our tokenholders are the long-term participants, and we sure that it will be more stable and higher after the audience growth.
In the next 3 month, our marketing plans are:
- Expand the audience in social media;
- Make more contests and online-events for the Community;
- Start to be published in magazines and media, including crypto-oriented ones. (Probably 2–3 times a month);
- Partner with other projects to benefit one another’s;
- Conduct an offline event;
- Renew the reporting policy, give more information about our team’s work;
- Attend the solar shows to reach useful contacts;
We are always open for suggestions, as we’re doing our best for the Community. If any questions, ask the team via the official Solar DAO Telegram Chat.
No Conclusion But work
Thanks for your time, more news will be available soon. Don’t forget to share the information about Solar DAO with your friends and subscribe to our newsletter.
Solar DAO Team
Solar DAO — a tokenized fund designed for everyone to easily participate in PV solar plants construction across the globe. SDAO tokens on: YoBit