Swytch (SET) ICO
Swytch platform tracks and rewards the production of renewable energy.
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|Project industry||Energy & Utilities|
What is Swytch
Swytch is a blockchain-based application that aims to verify and reward the production of renewable energy through the issuance of an ERC20-compliant utility token - SET. Swytch tokens can be produced anywhere electricity can be produced and expended from both small residential and large-scale industrial power infrastructures. Moreover, Swytch token generated, traded, and transferred will accelerate investments and adoption of renewable and sustainable technologies by rewarding production and providing a platform through which those rewards can be monetized and re-invested. Energy production is authenticated using Swytch's Production protocol which solves the problems inherent with PoW and PoS.
Swytch ecosystem is built on four main elements. The first is the Swytch mobile application which acts as a token wallet, allows users to determine their power generation and revenue potential and applies for an advance to purchase and set up their own modular/expandable solar unit. The second piece of the Swytch platform is nodes enabling integration with IoT devices to capture energy production data from the equipment. Third element of the Swytch ecosystem, is the Oracle - an open-source algorithm that calculates Swytch token allocations based on the impact that a given unit of energy has on offsetting carbon pollution and emission. Finally, verified installers will confirm system design and receive rewards for accuracy.
DetailsPublic sales: Jun 12, 2018 - Jul 12, 2018
Token supply: 203000000
Hard cap: 60,000,000 USD
Token infoTicker: SET
Token standard: ERC-20
Token price in USD: 1 Token = 0.500000 USD
10% - Grants & Energy Partnerships
14% - Foundation
15% - Core Team Founders
3% - Token Commons Project Fund
55% - Token Sales
3% - Bounties/Affiliates
90% - Energy Production rewards
10% - TGE
Token Commons Foundation formation Initial Funding Swytch Development partnerships and technology development
Core technology partnerships Design and Build Proof of Concept, Dashboard, data estimator and Pilots
Germany Energy aggregation pilot completion · Additional fundraising round complete · Core technology development, IOT security, and team growth.
Complete additional POC's with partner cities · Oracle AI refinement for DACM (Adaptive Module) · Oracle Consortium development.
Pro-consumer residential token generation pilots · Oracle open source · International Partnerships growth and scale.
Trusted IOT device protocol integration · Government and corporate engagement.
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