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Frequently Asked Questions

Company

  • 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. Will there be a Power Ledger Fundraiser? When?
    A. Token Generation Event will begin shortly, and can be accessed at https://tge.powerledger.io/. To be the first to hear, join our Telegram group https://t.me/powerledger
  • 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. What will the funding be spent on?
    A. The Token Generation Event will ultimately allow the substantially accelerated platform development and incentivization of early users onto the Platform. Please see our roadmap (figure 5.3.1 in the whitepaper) for more information.\
  • 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.

Token Sale

  • arrow_forwardQ. What is the name of the token?
    A. Power Ledger’s token, POWR will be created as an ERC20 token on the Ethereum blockchain and will be integrated into Power Ledger as the primary interface token. It is fundamentally a protocol token that will not only provide access to the Ethereumpowered platform for users to purchase electricity with it (or through their local utility) but also act as a reward or incentive to electricity producers and consumers who settle their production and consumption through the Power Ledger platform.
  • arrow_forwardQ. How many tokens are available during the Token Generation Event?
    A. There are 350 million tokens available in the Token Generation Event.
  • arrow_forwardQ. How much does it cost?
    A. The market will price the tokens.
  • arrow_forwardQ. Will we be informed of the ETH to POWR conversion ratio?
    A. Depends on amount raised. .."All 350,000,000 tokens will be issued following the close of the Token Sale regardless of the amount raised". We are allowing the market to determine the price.
  • arrow_forwardQ. Do I need to have an account/wallet set up prior to the TGE to participate?
    A. Yes you need an ETH wallet
  • arrow_forwardQ. Why is there no minimum and maximum raise for the ICO?
    A. There is no Minimum or Maximum $ raise. All tokens will be issued irrespective of the $ value raised. This allows everyone to receive an allocation, without the problems of previous token sales that were sold out in minutes. Additionally, larger buyers known as ‘whales’ will be discouraged as there is no advantage to jumping the queue with large transaction fees and massive orders as the pricing and allocation they receive will be the same as all other token buyers. Based on previous token sales we have studied we believe this allows for the most equitable distribution and pricing. The rationale is to allow everyone who wants tokens to get them. To allow the actual platform participants (users) to benefit from the growth and success of Power Ledger. Additionally POWR tokens incentivize its owners to use and support the platform which creates a networking effect. All tokens will be distributed regardless of minimum raise, as Power Ledger is already equity funded and will continue its development regardless of funds raised in the TGE.
  • arrow_forwardQ. How much will be raised?
    A. There is no cap on the amount of contributions that will be accepted by the Power Ledger Board. The Power Ledger Board have chosen to go with an uncapped ICO so that all investors will have an opportunity to participate. The fundraiser will have a fixed period of 4 weeks in which POWR tokens will be available for purchase.
  • arrow_forwardQ. Why is there no cap?
    A. Following the example set by the Ethereum Foundation and many other high profile and successful token sales, there is no cap on the amount of contributions that will be accepted by the Power Ledger Board. The Board believes that an un-capped fundraiser will promote a widespread distribution of the tokens, a necessary prerequisite to launching a robust network. Though the amount of POWR is denominated in ETH, contributions may also be made in Bitcoin that will be converted at the prevailing rate on a best effort basis.
  • arrow_forwardQ. Will the total amount raised be visible to the public throughout the token event?
    Yes it will
  • arrow_forwardQ. What currencies will be accepted?
    A. BTC, ETH, LTC. Your POWR allocation will be calculated using the USD price of the payment coin (ETH, BTC, LTC) you used at the time it is received by Power Ledger.
  • arrow_forwardQ. As a multi-currency token sale, will it be pegged to a single currency or kept in multicurrency. If pegged, how is the conversion price calculated for unpegged currencies?
    A. The Tokens will be allocated according to the USD market value of the payment coin received (ETH, BTC or LTC) calculated at the time their payment was received by Power Ledger.
  • arrow_forwardQ. How do I contribute?
    A. Go to https://tge.powerledger.io/ and follow the instructions
  • arrow_forwardQ. Which platform will you use to facilitate your tokenisation?
    A. Ethereum. POWR tokens are an ERC20 smart contract.
  • arrow_forwardQ. Which wallet will you use for the ICO?
    A. Ethereum wallet - https://www.myetherwallet.com/
  • arrow_forwardQ. Is there a pre-sale bonus? If so, can you please outline the start and end date of when the bonus will be available, and what value is on offer?
    A. There may be a private pre-sale of tokens leading up to the opening date. All participants in the public sale will be offered a discount off the final token price calculated at close of TGE, as follows:

    Time Discount:

    Week 1 15%
    Week 2 10%
    Week 3 5%
    Week 4+ 0%
  • arrow_forwardQ. How do I get my coins and what can I do with them?
    A. The POWR tokens will be distributed to the buyer’s Ethereum public address supplied. The POWR tokens acquired will be issued at any time after the close of the TGE, but no later than 4 weeks after the Token Sale closes.
  • arrow_forwardQ. Are the funds being held in an escrow?
    A. Yes, they will be escrowed.
  • arrow_forwardQ. What is the incentive for investors to keep our tokens after the Token Generation Event?
    A. Token holders will have access to the Power Ledger platform. They can potentially use POWR tokens to purchase electricity when the Power Ledger platform becomes available in their area. Token holders can also participate in Asset Germination events by submitting POWR tokens. By keeping hold of POWR tokens you won’t have to buy them on an exchange later if you decide to use the platform. As we on-board more participants there will be a requirement for more POWR tokens either in circulation throughout the eco-system or escrowed in a SmartBond.
  • arrow_forwardQ. How are the tokens split?
    A. ● 35% - POWR tokens available to investors during the TGE ● 25% - Growth Pool - will be used to incentivize users and encourage Application Hosts to come onto the platform - this is a big plus to existing holders of POWR tokens as they are also escrowed for up to 3 years after distribution (in addition to being used as security in the Smart Bond.) ● 15% - Developers Pool is escrowed. ● 25% - Power Ledger’s Reserve - Will be escrowed and only used to fund further development and operating costs if required. This de-risks the company. If Platforms distribute too much of their tokens too early and further down the road they run out of funds, the risks to the company and early token buyers can be significant. It’s prudent for management to hold a % tokens in reserve and is the model that is increasingly being adopted by other well received token sales.
  • arrow_forwardQ. How to protect your funds?
    A. You must have access to your private key. Check with your wallet or exchange. Do not supply an ETH address from wallet and exchange providers like Coinbase or from multisig wallets. Please use a wallet that supports ERC20 Ethereum tokens, such as MyEtherWallet, Mist, or imToken. Throughout the TGE we never deal with a user’s private keys.
  • arrow_forwardQ. When will the coins be tradable on a recognised exchange?
    A. The sale hasn't happened yet, so they will be tradable on a recognized exchange or ERC20 token exchanger after the sale and at some point in the future after that. Please join our Telegram group for updates.
  • arrow_forwardQ. Is your token sale subject to any special requirements or restrictions?
    A. U.S. Investors are not permitted to participate in the token sale
  • arrow_forwardQ. I have a question, how can I contact you?
    A. Please join our Telegram chat here where you can ask as many questions as you like.

Technical

  • 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.

Bounties

  • arrow_forwardQ. How does the bounty work? If I have 10,000 twitter followers what can I get?
    A. We have an internal initial bonus points allocation system which incorporates a twitters users followers and friends. After that all tweets and retweets are credited as per the bounty rules. Which can be found on the bounty website https://bounty.powerledger.io After joining you can see your points allocation by following a personalized link to your bounty account which is included in the registration email.
  • arrow_forwardQ. I can't find any detail on what points you actually earn?
    A. Please review this document here: https://bounty.powerledger.io/media/Bounty-Rules.pdf
  • arrow_forwardQ. Can I join the bounty program if my twitter is 3 months old?
    A. Unfortunately not for Twitter. But fine for Bitcoin talk, Facebook account or a blog.
  • arrow_forwardQ. Is there a min. no of followers?
    A. No minimum amount of followers just starting bonus if you do.