What is Energi?
Energi is a self-funding cryptocurrency that has a purpose to reach the masses. The value proposition of Energi is that they will provide a very strong, self-funding treasury system which will eventually develop into a smart contract platform.
Energi will provide a small allocation to mining rewards and will take a bulk of the coin issuance and give it the treasury and masternodes. Energi will also allocate 10% on-going reward to leadership of the Energi Backbone, which is significantly less compared to today's ICOs' rewarding their founders between 20-50% of the tokens distributed. Another trait that sets Energi apart from ICOs is they give an on-going 10% allocation through each block reward, rather than rewarding the founders up-front.
I've copy/pasted their Coin Specs and FAQs down below.
Energi Coin Specs
Block time: 1 minute.
Hashing Algorithm: Dagger-Hashimoto (similar to Ethereum).
Masternode requirements: 10,000 Energi.
Treasury cycle: Every 14 days.
Approximately 1 million Energi will be released per month. The allocations can be observed easily as “10/10/40/40.”
10% will go to the Energi Backbone.
10% to the Miners (which will eventually transition to Proof of Stake).
40% to Masternodes.
40% to the Treasury.
Thus, for every block, allocations are: 2.28 Energi to the Backbone, 2.28 Energi to the Miners, 9.14 Energi to the Treasury, and 9.14 Energi to Masternodes.
Since Treasury allocations are paid in two-week cycles, they are made in lump sums of approximately 184,000 Energi every 14 days.
In order to allow for widespread distribution of Energi before Masternode payments begin, Masternode rewards will be delayed until day 150, this is to allow the airdrop campaign to be completed and ensure a large amount of Energi is spread out through the community. Until this point, Masternode rewards will be re-directed to the Treasury. Thus for the first 5 months, the Treasury will have approximately 368,000 Energi every two weeks (about 800k Energi per month). The airdrop campaign is designed to release ~4 million Energi to the community.
Frequently Asked Questions (FAQ)
Is there a limit on the number of coins?
No, putting a cap on the number of coins would mean the inevitable end of Treasury emission and Masternode rewards, which are pivotal to the survival and growth of the network. We see no reason to put such a “death sentence” on Energi. We also don’t want to dwindle down too heavily in inflation over time, as the inflation is the engine that fuels Energi’s funding, if anything we may consider increasing inflation in the future if needed to accelerate Energi’s growth (as we see that every dollar spent in Energi, if spent well, can yield more than a dollar in added value back, thus a positive feedback loop, and something beneficial).
Was/Is there an ICO?
No, see Energi Backbone section below.
What is the Energi Backbone?
The Backbone consists of TommyWorldPower (the creator of Energi), and anyone he choses to share with privately. it’s his reward for the ~year he spent designing and creating Energi, and gives him power to direct the network, as it is often overlooked how important leadership is in cryptocurrency. This allocation gives Tommy a strong say over the governance of the network- not an overwhelming say, but strong enough to guide the network. It’s important to be aware that every cryptocurrency and cryptoasset is centralized to a degree, usually around their core team. This is fine as long as the community has a say and ability to veto if needed (which will be accomplished in Energi with the generous airdrop campaign Tommy designed to distribute Energi over the coming months). More importantly, the inevitable centralization in cryptocurrencies is fine as long as the leaders are good leaders, have good vision, and have strong ethics. Tommy seeks to lead from a place of love and compassion, over time Energi will attract people in alignment with these values (and these are the people who will stay long term).
For perspective, Tommy passed on doing an ICO, in which he otherwise would have sought to raise ~$20M (and pocketed many of those millions himself), as well keeping a minimum 10-20% stake upfront for himself. Instead, he passed on doing an ICO (which is quite rare in the space these days), and opted instead for a modest 10% on-going stake, which is similar to a 3 or 5-year distribution that some ICO’s are doing, but rather than 3 or 5 years, the incentive to the lead the network is spread out over its lifetime, and thus is only rewarded gradually over time. This is a very effective and innovative model in that it incentivizes Tommy to ensure the prosperity of Energi, not only for the short or medium term, but throughout its lifetime.
If you would like to learn more about Tommy and Energi, please visit the links provided below: