ICO Review: WePower – The Next Power Ledger?
Power Ledger has been one of the most profitable ICOs of recent times. But if you missed Power Ledger, WePower could just be the perfect investment opportunity for you.
Quick Facts:
Name: WePower
Symbol: WPR
Token Type: ERC20
Total Supply: To be determined based on token sale. WPR sold will be 55% of total supply.
Hardcap: $35 Million
Crowdsale Start Date: 01st February
Crowdsale End Date: 14th February
Crowdsale Price:
1 ETH = 4,600 WPR until soft cap is reached.
1 ETH = 4,000 WPR after soft cap.
What is WePower?
WePower is a blockchain based green energy trading platform intending to disrupt energy markets by providing a marketplace which will allow users to buy, trade or invest in tokenized green energy.
Why WePower?
As per the recent estimates, about 76% of the total global energy production comes from non-renewable energy sources which won't last forever. Therefore, there is a need to promote and progress in green energy production which currently contributes only 24% of the total global energy production.
There is definitely a desire in the market to switch to renewable energy production sources but the current market bottlenecks are slowing the development and therefore these problems needs to be addressed in order to make it feasible for both, the energy producers and consumers.
The major problems with energy markets:
Investor's Perspective
- Lack of access to investments on local and global level.
- Complicated and expensive investment process.
- Limited transparency of investments.
Producer's Perspective
- Lack of capital needed to develop projects.
- Long and extensive capital acquisition from banks and funds process perspective.
- Constant lack of own funds.
What does WePower offer?
- WePower connects energy suppliers, consumers, and investors, to develop a mutually beneficial green energy trading platform.
- WePower enables renewable energy producers to raise capital by issuing their own energy tokens. These tokens will represent energy they commit to produce and deliver later. As a result, energy producers will be able to pre-sell their production in a global market and raise capital upfront.
- Investors acquires energy in the form of internal energy tokens. Each energy token acts as a smart contract indicating: type of energy, when the energy will be produced and delivered and the price tag.
- WePower also acts as an independent energy supplier, allowing WePower to be connected with the energy grids and exchange markets, so the company can trade energy if there is not enough demand on its platform.
Roadmap
WePower development is divided in 3 distinct stages:
WePower Breeze: Focuses on investment, trade and consumption of energy. It aims to revolutionize how energy investments and purchase are done. The objective of the Breeze phase is to integrate the WPR token and the Energy token with a global trading platform connected to regional wholesale and local energy retail markets with the capability to aggregate renewable energy plants.
WePower Storm: Focuses on enabling high penetration of renewable energy, growth of services offered and aggregating and managing energy flows via smart contracts. In WePower Storm, as more plants and consumers connect to the platform, additional optimization capabilities are developed for both producers and consumers and local power grids in order to fit more green renewable energy into the grid and onto the platform.
WePower Hurricane: Focuses on decentralized virtual energy utility. As core and auxiliary platform features are successfully developed, WePower Hurricane will focus on drastically improving the scalability of the platform by lowering transaction costs, simplification and automation of user interface, and introducing AI powered system-wide optimization.
Positives
- Team and Partnerships: WePower has global team of energy experts with 10+ years of experience. They have already secured partnerships with over 15 firms including Bancor, Elering, Conquista Solar, Blockex etc. Also, they will be setting up a nationwide energy tokenization pilot in Estonia.
- Prototype: WePower already has demo version of the platform available and anyone can check that out on their website.
- Hype: WePower has gathered a lot of hype recently and their whitelist currently has over 50,000+ registrations.
- Promising Roadmap: WePower aims to deliver the platform in just 9 months after TGE which will be way earlier than any of the existing competition.
Negatives
- Hard Cap: $35 Million hard cap seems to be a bit on the higher side.
- No Individual Caps: There are no individual caps on the contributions for the main sale and therefore it could potentially allow whales to get in.
- No fixed Total Supply: Total supply will be based on the amount raised in the token sale. WPR sold will be 55% of total supply.
- Competition: WePower will be competing with a lot of similar projects such as Power Ledger, SolarCoin etc.
Recommendation
WePower definitely looks promising and offers a neat idea which if executed as planned can bring the much needed change in the energy sector, it may go on to become the de facto clean energy supplier in the future as well. There is definitely a demand for such projects in the market as evident from the success of Power Ledger. Although WePower looks bigger in scope than Power Ledger, it will be interesting to see how much partnerships they can acquire in future in order to compete in this space.
Overall Ratings: 8.5/10
Investment Advice: Highly Recommended
For Flipping: Good
For Long Term: Good
Quick Links
Official Website
Whitepaper
Github
Twitter
Telegram
Image and Video Credits: WePower
Disclaimer: This is not a financial advice. I am giving my personal opinion, do your own research before making any investment decision. Do not invest more than you can afford to lose.
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I missed Power Ledger, will try to get into WePower now. Hope it turns out to be a good one.
I am very confident on this project simply because of the partnerships and the hype around the project. Over 50,000+ registrations is no small deal. This project will be big.
You didn't miss anything except bitcoin, we are all in this crypto early. I invested in both because they are great projects.
How do they think they will bring the power to the consumer? Hopefully there are not to many energy producers because they will lower the price. This is exactly the opposite as we should hope for ecologically.
WePower has a 2 system token (WPR token and energy token worth of 1 kwh). With WPR token holder will be able to receive 0.9% of energy tokens produced by renewable plants.
WPR token will allow its holders:
Priority pass to participate in an auction for energy tokens of a newly connected energy plant. It provides an opportunity to buy green energy at the most favorable conditions. This will become an asset itself because large energy buyers will want to re-purchase these tokens for their own use. The supply of WPR tokens is limited.
Access to the green energy donation pool, which will be constantly filled with 0.9% energy donations required from all green energy project developers that want to join and fundraise on the WePower platform.
Both features of WPR token is structured to increase demand for the token and invite more energy buyers to participate.
Thanks for the detailed answer!
I will resteem your article!
WePower seems well-connected in parts of Eastern Europe; its whitepaper boasts collaboration with Estonian TSO Elering, and appends a letter of interest from the Lithuanian Ministry of Energy.
But there’s one aspect that I’d challenge. One of the core problems that WePower seeks to address is the ‘lack of capital needed to develop [renewables] projects’. But the market reality is the opposite: the European renewables market is awash with money – there’s a lack of viable projects, not lack of money. In these market dynamics, WePower will have to work hard to persuade vendors to accept standardised contracts, stomach greater project risk, and engage with what might be viewed as a risky crypto startup.
I still think their business model is pretty interesting - but it will require persistence and creativity to make it a reality, for sure. I wish the WePower team all the best.
I love reading such comments, I get to learn more about the things at the ground level. Partnerships and team are all great things but what makes a business a success is the adoption, lets see how WePower focuses on that.
1000 m in Spain until the end of 2018 unrealistic
Great Post! I find your Review so interesting! I write also a review about another ICO Check it in this link and tell what you think
Hi Dakster, thanks for taking out time and reading my review. I went through your profile and followed you as I think you post some good quality content on Steemit. Wish you all the very best for your future posts and Steemit on the whole.
Thank you a lot @sagarthukral! I read your comment on my post! Thank you for your passage
thanks for sharing
thanks
follow for follow
Avevo già incontrato questa ICO ma essendo poco ferrato sull'argomento avevo lasciato perdere, ma visto la tua competenza forse torno a valutarla.
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Great! It happened :)
Here is the Announcement! ;-)
KuCoin listed WePower
please resteemit