WePower integrating Bancor Protocol™ to provide continuous liquidity for WPR token
WePower token model is the next stage in the token economy evolution. The great majority of tokens currently on the market tokenize equity or a company’s future cash flows, neither of which have existing intrinsic value. WePower is pioneering a new model which tokenizes energy, which has a well established underlying market and measurable value.
The WPR token is backed by green energy, and is liquid while accumulating more energy credits over time.
The WPR token has two features:
1. Priority access to participate in tokenized energy auctions. The WPR token acts as a priority access token for the auction to buy tokenized energy. WPR token holders will be first bidding to acquire energy from each new renewable energy plant joining the platform. After priority bidding, the remaining energy tokens are sold to any WePower user. Priority allocation for energy token auction is proportional to the amount of WPR the token holder has.
2. Allocation of a renewable energy producer’s tokenized energy. Under the WePower platform’s terms & conditions, each renewable energy producer will be required to donate 0.9% of all tokenized energy to WPR token holders. Each WPR token holder receives tokenized energy proportionally. WPR token holder’s rights are indefinite. This guarantees WPR token holders receive green energy from each producer tokenizing energy and using the WePower platform, which is already in production and deployment.
Today we are happy to announce integration with the Bancor Protocol™ providing WPR token holders with continuous and autonomous liquidity in the crypto world.
Bancor Protocol will provide continuous liquidity for WPR token holders by allowing WPR owners to convert their tokens to any other token in the Bancor Network™ for decentralized liquidity, with no counter party. WePower token holders will be able to purchase and sell WPR tokens directly via a simple Web App, from any Web3 wallet, at a formulaically calculated price, according to the open-source Bancor Formula.
The WPR token was designed with insight from one of the founders of Bancor Protocol — Eyal Hertzog, who serves on the WePower advisory board and specializes in token models.
The Bancor Protocol standardizes a new token “connector” method which networks tokens such as WPR and BNT (Bancor Network Token) to each other, so that they can be bought or sold directly through their smart contracts for any other token in the network, at formulaically determined prices which increase with buys and decrease with sells.
This method allows buyers and sellers to interact directly with smart contracts, so there is no need to match people to each other in a traditional exchange in order to convert.
Bancor-compliant “Token Relay™” with 5% of WPR tokens will be activated within a month after the successful completion of the token crowdsale. This will allow anyone to buy and sell WPR tokens with any other token in the network.
The WPR token was designed with insight from one of the founders of Bancor Protocol — Eyal Hertzog, who serves on the WePower advisory board and specializes in token models.
“Energy is one of the most liquid assets that can be traded. Tokenization of energy brings not only innovation to the energy sector but also brings energy closer to the currency we use every day. WePower tokens with additional liquidity through the Bancor Protocol could become a prominent energy backed cryptocurrency” said Eyal Hertzog, Co-founder and Product Architect at Bancor.
The Bancor smart contract is a non-profit (no fee) market maker with no spread (buy and sell prices are identical) so that users benefit from increased efficiency, transparency and predictability — without middlemen.
We are joining a growing list of over 50 projects that have announced integration with the Bancor Network.
Please join the WePower Token Community on the Bancor Network Web App and our Telegram group for round the clock updates!
