Frequently Asked Questions

  • arrow_forwardCompany
    • arrow_forwardQ. What is Power Ledger?
      A. Power Ledger is a blockchain-based peer-to-peer energy trading platform enabling consumers and businesses to sell their surplus solar power to their neighbours without a middleman.
    • arrow_forwardQ. How does the technology work?
      A. The Power Ledger system tracks the generation and consumption of all trading participants and settles energy trades on pre-determined terms and conditions in near real time. A user simply receives a registration email from their Application Host, they click on a link which takes them to the Power Ledger platform where they create a userid and password. That’s it, once logged in they can see their electricity usage and all their P2P trading transaction details.
    • arrow_forwardQ. Where can I find your relevant documentation?
      A. Visit our Token Generation Event page here: https://tge.powerledger.io Read our White Paper, Token Paper and Disclosure document here: https://tge.powerledger.io/#papers Ask any questions on our Telegram - https://t.me/powerledger
    • arrow_forwardQ. What is the scope of the roadmap over the next 24 months?
      A. As Power Ledger is a commercially operating entity, we already have platform applications built, which is explained in figure 5.3.1 in the white paper. The roadmap outlines the priority we plan to develop the applications in, with the aim for all to be deployed in two years. There will be no incubation time as we have multiple applications already built and operational. Therefore, customer engagement will be high from day one, as it is now.
    • arrow_forwardQ. Why are you doing only a one-time token sale?
      A. We are hoping that the sale will raise enough to support development for a global Power Ledger platform, to spread the tokens far and wide and allow as many potential future users to have access to the tokens from inception. Power Ledger is a movement, we want to give power back to the people and tokens will catalyze this movement. There is always the possibility of releasing additional tokens from the Power Ledger reserve if we require future funding, which should provide token buyers comfort knowing the platform is sustainable and that it’s not just a once off all or nothing outcome to success.
    • arrow_forwardQ. How does Power ledger differ from competitors?
      A. Our platform design leverages our experience and understanding of how the energy system is evolving and provides the greatest opportunity for energy system disruption without the destruction of incumbent value that is often the result of technology change and adoption. Power Ledger is one of the early pioneers in this space. We officially launched in May 2016, after months of planning, and our management team has immense expertise in both blockchain and electricity markets. Our platform is already developed and usable applications are already running on the blockchain.
  • arrow_forwardTechnical
    • arrow_forwardQ. Will each user be a staking node processing transactions in a fully decentralized P2P network?
      A. Initially it will be Application Hosts only. As we progress we will move towards the public also being involved in securing the network. Longer term when we feel Ethereum has developed reasonable scaling solutions and proof-of-stake is implemented we are committed to transitioning the transactional process to the Public blockchain.
    • arrow_forwardQ. I thought there was no hardware or software required on the user end and the onboarding process was just signing up?
      A. This is addressed in the White Paper, users will need to be on-boarded by Application Hosts. No hardware or software is required by the user, just a login. Later users in deregulated markets may be able to use the platform and trade electricity directly without going through an Application Host (sponsor).
    • arrow_forwardQ. What is the network model for the side chains, are there different ways to do proof of stake and different consensus algorithms to the main chain?
      A. We don’t use sidechains. We will be using Ethereum's POW algorithm and migrating along with Ethereum to POS if it becomes stable.
    • arrow_forwardQ. Will there be multiple instances of Sparkz sidechains tied to local currencies/suppliers?
      A. No sidechains. An ERC20 compatible smart contract for each local currency market. Suppliers within the same country or currency can share the same Sparkz ERC20.
    • arrow_forwardQ. The Consortium services are performing a market making action for all these different instances of Sparkz via buying and selling of the different POWR token bond contracts to keep them at the correct price for the local currency?
      A. No, Sparkz prices are set at local currency exchange rates and it won’t change. POWR depends on the strength of the POWR token on the exchanges, Consortium miners will initially be application hosts and be rewarded by a reduction in their platform transaction fees.
    • arrow_forwardQ. Are these contracts/bonds de-coupled from the price of POWR?
      A. Initially they will be at a fixed price and later adjusted depending on the risk profile of the Application Host (using reputation and customer feedback). Eventually as the POWR market becomes deeper and stabilizes, we intend to shift to a direct market pricing relationship.
    • arrow_forwardQ. If the ecochain is private how do the holders of POWR know that the correct amount of Sparkz is being created and traded?
      A. The amount of POWR's at any one time locked up in the Smart Bonds will be transparent to everyone. Sparkz created will be transparent to all of the consortium members for security and privacy reasons. When the consortium chain transitions to a public Blockchain, Sparkz creation contracts will also become public.
    • arrow_forwardQ. If there is a set number of POWR, how do you plan to mitigate the fluctuating costs of doing business if you need to buy it back to power the chain and Sparkz are redeemable for a local unit of currency?
      A. There is no market price risk for Power Ledger. The Application Hosts buy POWR to gain access to the platform. The number of Sparkz created will eventually be linked to the market price of POWR. Sparkz are always in alignment with the electricity market (and currency market) they are transacted in. The only time Power Ledger needs to buy back POWR is for the incentivizer program which will always be at market prices and be distributed back to users based on its current value.
    • arrow_forwardQ. The white paper mentions that POWR tokens are exhausted – how does this happen?
      A. POWR tokens are never exhausted. In the white paper it says "Once an Application Host has exhausted all POWR tokens they can no longer transact on the Platform, until they obtain more POWR to provide Platform access.” This just means they cannot transact without Platform access which is warranted by having POWR tokens. The POWR tokens are escrowed in a Smart Bond when the Sparkz are issued. When the Sparkz are returned the POWR token are also returned to the Application Host and the Sparkz are destroyed.
    • arrow_forwardQ. Is the pool of available POWR intended to be fixed or limited? Same for Sparkz?
      A. The amount of POWR tokens is fixed. This can be confirmed on the Ethereum blockchain and the issuing smart contract cannot be changed once deployed. Sparks will be generated as they are required, used and then destroyed when redeemed.
    • arrow_forwardQ. I’m confused about the tokens – these are split at the moment in Sparkz and POWR – is this for regulatory reasons?
      A. No, they are separate for stability of pricing and local electricity pricing reasons. If the token market inflated the POWR price it wouldn’t affect the cost for electricity for the everyday consumer. Electricity is priced in local currency, represented by Sparkz. Sparkz are pegged to local fiat currency and the cost of power, so are unlikely to change much in relative “value” over time. E.g. 1 Sparkz = 1 AUD
    • arrow_forwardQ. For POWR tokens – do you see that these will change in value over time?
      A. They will be listed on crypto exchanges along with other tokens, so yes they will fluctuate with the market demand.
    • arrow_forwardQ. How does the Sparkz to POWR conversion work – it mentions that POWR can be exchanged for Sparkz? Will the rate of conversion vary over time?
      A. Yes, the rate of conversion will vary based on the fluctuation of the POWR tokens. For Application Hosts, their reputation and feedback may also affect the conversion ratio.
    • arrow_forwardQ. Do you envisage that a very large scale generator or retailer would become an Application host?
      A. A large scale retailer, yes for sure, a large-scale generator could also become an Application Host
    • arrow_forwardQ. How is the interaction between the physical asset (ie solar PV, battery, etc) and the system completed? Is it done by oracles into the smart bond? Smart Meters?
      A. The asset (PV or battery) is a participant of the platform which interacts through its smart meter and Sparkz wallet and can then transact energy autonomously. It does not have to be a person.
    • arrow_forwardQ. The smart bonds that hold the POWR tokens – is the rate of Sparkz generation somehow tied to how much electricity is generated? Or is this a misunderstanding and the concepts are not linked?
      A. The concepts are not linked. The value of POWR tokens required in the Smart Bond will be related to the value and number of Sparkz required by the Application Host so they may on-board their customers and assets.
    • arrow_forwardQ. How do you guys plan to deal with the legal wrap around your transactions? Will participants need to enter into some form of trading agreement?
      A. Depending on the trading environment we'll use a legal framework that reflects the standard terms and conditions of the small-use energy customer contracts that apply in many market jurisdictions. These terms and conditions will be embedded within trading rules that drive the peer-to-peer relationship between platform users.
    • arrow_forwardQ. You mention in your Token Paper Roadmap that in 2019, 'Power Ledger aims to be operating fully on a public PoS blockchain.' Are you referring to abandoning Ethereum? How will you transfer value to your blockchain and what does this mean for mining?
      A. There are 2 blockchains the one the POWR token lives on is the public Ethereum BC this will not change. What you are referring to is the consortium blockchain where the electricity is transacted
    • arrow_forwardQ. Does that mean the POWR token becomes obsolete once the sparkz BC has been created? wouldn't sparkz BC have a mining reward ?
      A. POWR and Sparkz are both used within the system and have different functions on different blockchains Power Ledger uses a public AND consortium Blockchain.
    • arrow_forwardQ. Why did you decide to use ETH blockchain?
      A. We require its smart contract functionality, it has great development support and it's planned transition to proof of Stake.
    • arrow_forwardQ. Will we be able to see the smart contract implementation for power ledger?
      A. Yes you will. It will definitely be up before ICO release.
  • arrow_forwardGeneral
    • arrow_forwardQ. I can't see my tokens within my wallet. Where are they?
      A. If you cannot currently see your tokens within your wallet you should try adding POWR as a custom token. Here are some instructions:
      To show POWR in MyEtherWallet:
      1. Click Add Custom Token
      2. Enter the following:
      Address: 0x595832f8fc6bf59c85c527fec3740a1b7a361269
      Token Symbol: POWR
      Decimals: 6
      Please only add custom tokens once you can see them on https://ethplorer.io
    • arrow_forwardQ. Where can I buy POWR tokens?
      A. To purchase POWR you will need to use an exchange or a broker. Currently, POWR is listed on the following exchanges:
      Bittrex: https://bittrex.com
      Binance: https://www.binance.com
      Cryptopia: https://www.cryptopia.co.nz
      Coinspot: https://www.coinspot.com.au
    • arrow_forwardQ. I’ve used an incorrect wallet type and cannot access my tokens. What can I do?
      A. If you have used a wallet that is not ERC20 compliant but you have access to the private keys you can export these keys and subsequently import them into an ERC20 compliant wallet such as MEW (https://www.myetherwallet.com/). If your coins are held in a wallet and you do not hold the private keys, you should contact that wallet's support team to see if they are able to transfer the tokens for you. Power Ledger is unable to change the address that a token has been sent to.
    • arrow_forwardQ. I purchased during the ICO and have received an incorrect number of tokens.
      A. If you purchased during the Presale, your token allocation is equal to the USD value at the time of purchased divided by either 8.38c (in the case of a 5% discount) or 7.65c (in the case of a 15% discount). Mainsale purchase allocations may be determined by dividing the total USD amount (after any bonuses have been applied) by 9.94c. Please note that the token prices used during internal calculations were not rounded to one hundredth of a cent, and therefore slight variations will be present.
    • arrow_forwardQ. My wallet has been hacked, what can I do?
      A. Power Ledger is unable to change where your tokens have been distributed to following the initial allocation of the ICO tokens. Unfortunately this means that if you have been the target of a phishing attempt, or your wallet has been hacked through some other mechanism, any loss of your tokens is beyond Power Ledger’s control.
    • arrow_forwardQ. I have accidentally sent my tokens to the Power Ledger contract address.
      A. Any tokens that are sent to the Power Ledger contract address are unable to be accessed. Unfortunately this means a loss of your tokens.
    • arrow_forwardQ. I would like to buy POWR but I am from X country. Can I buy your tokens?
      A. We cannot comment on individual countries, but if you would like to purchase POWR please look into the relevant laws surrounding your jurisdiction.
    • arrow_forwardQ. I would like to get involved as a project partner/application host etc.
      A. Great! Please submit a ticket with the subject that includes one or more of the codes corresponding to the way in which you would like to be involved:
      1000 : Asset Germination
      1100 : Electric Vehicles
      1200 : P2P Trading
      1300 : Autonomous Asset Management
    • arrow_forwardQ. I have a media opportunity and I would like to get Power Ledger involved.
      A. Brilliant, we welcome all media to get in contact by submitting a ticket with the code 3000 in the subject line.
    • arrow_forwardQ. I would like to work for Power Ledger.
      A. We’re always looking for creative new talent to join us, please submit a ticket with the code 2000 in the subject line.
    • arrow_forwardQ. I have solar panels, how can I get involved?
      A. At the present time the way individuals can get involved is to ask your energy provider to adopt the Power Ledger platform.
    • arrow_forwardQ. I am interested in Power Ledger but I do not understand X.
      A. To discover more about the Power Ledger platform please read our white paper.
    • arrow_forwardQ. Is there a community where I can discuss Power Ledger and interact with the team?
      A. For discussions about the Power Ledger Platform we have a Facebook group. For more general discussion we have a Telegram group
    • arrow_forwardQ. I would like to congratulate you and thank the team!
      A. We love hearing your feedback! Please submit a ticket with the code 4000 and your message will be passed on to the relevant party.
    • arrow_forwardQ. Where can I view announcements?
      A. Announcements are made on our Telegram Group, Facebook Group, Twitter and our website.
If you have any further questions, please do not hesitate to get in contact with us, and fill out the form below!
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