European energy leader WPO’s ICO (Initial Coin Offering) is in full swing. Initiated on September 8, the operation is open until November 12, 2020. In other words, this crypto-monetary fundraising which the European leader in renewable energies has made the bet is at its exact half, and it remains to those who would like to accompany the movement for about 1 month to act. The stake: the acquisition of GreenToken (GTK), a real backbone of WPO’s value proposition. This crypto-asset will be used to drive future innovative projects of WPO, allowing the company to bring out a new approach to commercial interactions around renewable energies. The horizon is as clear as it is ambitious: putting blockchain at the service of the energy transition.
Today, we explore a little more in depth the true utility of the GTK token, which will constitute its added value. It is also an opportunity to explain how it is possible to acquire this asset, the sale of which is framed by a VISA from the Autorité des Marchés Financiers (AMF), a first for a company in the energy sector.
Warning : This article is brought to you in partnership with WPO. Crypto investments are risky by nature and subject to large fluctuations. This article does not constitute an investment invitation. Please read the AMF warning at the bottom of this article.
The blockchain and the GTK token: helping the climate
We have already mentioned WPO in Cryptocurrencies, on the occasion of a chapter of Adopt a Crypto Project.
This leader of independent European platforms for asset management and services specializing in renewable energies is not necessarily well known to the general public. However, to look at the recent history of the company is to dive into a real success story which lasts since 2008. It will be recalled that WPO is a group at the service of green energy who oversees today the equivalent of the electricity consumption of the population of Paris. Specialized inoptimization of renewable energy production through a full range of technical, commercial and financial expertise, WPO contributes to increasing the share of renewable energies in the European electricity mix.
And if WPO is in an obvious economic form, and sees its operational perimeter growing at the same time as its turnover year after year, it is also because the team that drives the company is never behind. ‘an innovation, even if it means changing the most traditional lines: those of fundraising.
So when WPO decides to organize a ICO (Initial Coin Offering, a crypto-asset fundraising such as Bitcoin or Ethereum), the interest is twofold: to collect funds obviously, via this new innovative mechanism enabled by the blockchain, but also allowing the birth of a new digital asset: the GreenToken (GTK), a cryptographic tool at the service of the energy transition with new characteristics.
The 4 functions of GreenToken (GTK)
TCT regulars know it: the crypto industry is literally crumbling under projects of questionable utility. Even more problematic, these projects themselves come with crypto assets whose unique value proposition is to become the plaything of an ultra-speculative market that does not care about fundamentals and underlyings.
So, if you are looking for the thrill offered by the irrationality of the young Decentralized Finance (DeFi) or looking – vain – of “New Bitcoin”, go your way! In fact, you will only find in the WPO project the pragmatism and thoroughness involved in the management of 7 billion euros in energy assets by a group that is not for “hype” or false promises.
Thus, if this ICO will actually allow the issuance of a crypto currency, which will be listed on exchange platforms (starting with the French of Savitar), WPO made sure that its GreenToken would have the most concrete functions, more precisely 4: the 4 GoCerts, or as many features (usecase) that the GTK token will guarantee.
The first functionality of the GTK is already operational. The following will be implemented between 24 and 36 months after the conclusion of the ICO
- A payment method specific to the energy transition. WPO customers and partners will be able to acquire goods and services related to the energy transition from the company. This functionality has already been active since 2018, transactions have already been carried out, duly validated and recorded by the auditor in charge of the financial supervision of the company. Obviously, all of these operations are engraved on the blockchain.
- Disintermediation of electricity trading. Today, electricity transactions are conducted through traditional Power Purchase Agreements (“PPAs”); the GoCerts # 2 (“SmartPPA ©”) – which is based on blockchain and a panel of smart contracts – will make electricity purchase contracts more transparent, faster, more efficient and more secure. GoCerts will allow energy producers and buyers to interact without the need for a centralized market. This will make it easier to trade energy from renewable sources at market conditions and expose the supply to a larger and more informed demand.
- High reliability certificates with full transparency and traceability. At a European level, the “Green Certificates” (which make it possible to certify the conformity of the production of renewable energy) operate on a centralized model which could be greatly improved. In addition, there are many national and even regional disparities, making the whole inefficient. A global blockchain architecture would bring transparency, resilience and efficiency to the issuance of future certificates. The GreenToken prefigures these inevitable evolutions and is intended to serve as a model to follow.
- Predictive maintenance and automation of insurance and guarantees. The production of renewable energy is conditional on the proper functioning of the equipment (no breakdown, good regulation) and the availability of resources (wind, sun). The efficiency and profitability of production depend on both the quality of equipment maintenance and the proper management of operational and weather risks. Currently, however, in the event of an outage, triggering a warranty or an insurance claim can take time and result in significant operational losses and management costs. In the future, a device based on smart contracts and blockchain oracles will, on the one hand, compensate – almost in real time – energy players and operators insured in the event of a malfunction, but also automate and standardize processes in the event of climatic hazards covered by guarantees (insufficient sunshine, lack of wind, etc.)
Why and how to buy GreenTokens (GTK)?
Before continuing, now is the perfect time to highlight that an investment in crypto-assets comes with significant risks, including loss of capital. Do this only with full knowledge of the facts, and take the time to train yourself on the fundamentals in this area. In addition, the characteristics of WPO’s ICO and GreenToken are set out in a very comprehensive Information Document that should be read before making any decision.
Once fully lit, the GreenToken viewed from an investment perspective has interesting characteristics:
- WPO is a stable, French, regulated and regularly audited entity. Its team is perfectly identified, it is subject to French regulations.
- The total supply (quantity) of issued tokens is low: A maximum of 15 million GTK in total (if the hardcap of the sale is reached).
- Up to 11 million GTKs are offered for sale to the public. Any unsold tokens will be destroyed at the end of the ICO.
- If there is no formal correlation, the value of GTK will be intrinsically linked to that of GoCerts. To assume that these new tools will be a game-changer in the energy market is to assume that GTK will see its value increase.
- WPO will implement governance chaired by an independent actor in order to steer the strategy around GTK.
- The GTK and its operation will fully comply with the GDPR (General Data Protection Regulation).
The different steps to buy GreenToken (GTK)
Supervised by the AMF, the purchase of GTK follows a particularly solid and rigorous process:
- 1. Creation of an account on the sales platform
- 2. Passage of a KYC (identity verification) which will involve the uploading of several documents. This step is managed by Equisafe, one of the French leaders in tokenization and in partnership with Lemonway and Yousign, compliance leaders.
- 3. GTK subscription with Bitcoin, of Ethereum or from Euro (bank transfer)
- 4. The minimum purchase amount is 100 euros
Note that the sale price of GreenToken is 1 euro, with -5% reduction. You can thus acquire GTK during the ICO at the price of 0.95 euro. For amounts greater than 10,000 euros, additional discounts are released.
- 5. The GTK tokens acquired will be transferred to subscribers on December 1, 2020 (and funds refunded in the event of failure to reach the ICO soft cap).
Now better informed about WPO and its GreenToken (GTK), do you want to enrich your crypto investor portfolio with a project that makes sense? Now is the time to devote some (renewable) energy to it, by registering for the ICO!
Warning from the AMF
Investing in a public offering of tokens as defined in Article L. 552-3 of the Monetary and Financial Code involves risks of partial or total loss of the investment. No guarantee is given as to the liquidity of the tokens acquired during the offering, the existence of a secondary market for these tokens, the value of the tokens acquired during the offering and the equivalent value of these currency tokens.
The tokens are not financial instruments within the meaning of Article L. 211-1 of the Monetary and Financial Code and do not confer any rights other than those described in the Information Document.
In addition, the regulatory framework applicable to the offering and tokens as well as the tax regime applicable to the holding of tokens have not yet been defined in some jurisdictions. The visa issued by the AMF relates only to the offer that is the subject of this Information Document. Following the closing of the offer, the AMF will not carry out any monitoring of the issuer and its Project. Any communication subsequent to the offer and relating to it will not be reviewed by the AMF. The subscriber is invited to consult Part 4 “Risk factors” of this Information Document.