The POWR token plays an important role in the adoption of Power Ledger’s technology. The more users we onboard and the more partnerships we enter into, the more the token economy will drive the demand for POWR.
There are only 1 billion POWR tokens in existence, and there will never be more created, and only a portion of those, or less than half, are currently in circulation.
When our partners want to gain access to the suite of products Power Ledger developed, a license fee must be paid in the form of escrowed POWR tokens. This mechanism means that as Power Ledger’s technology gains market adoption, the competition for outstanding POWR tokens heats up as fewer are left in circulation with multiple partners competing for the ones that remain.
Previous POWR Project Escrow Report
We release POWR Project Escrow Reports periodically, detailing the total amount of POWR being held in escrow for active projects. The reason for releasing this report periodically is so that the community can see the growing number of POWR tokens locked up in escrow as the number of Power Ledger’s partnerships and the instances of Power Ledger technology increase.
The first POWR Project Escrow Report saw 533,066 POWR escrowed and represent a license fee payable by our partners for projects on boarded up to 31 December 2018. The escrowed POWR tokens are visible at the following address, 0x3DD7719ab702282F3972b88e4B372C6aFCC4b7eC, which can be accessed via any Ethereum blockchain explorer, like etherscan.io, for example.
This POWR Project Escrow Report
This is the second POWR Project Escrow Report that details POWR escrowed for projects added between 1 January 2019 and 30 June 2019. However bear in mind that not all recently announced partnerships are reflected in this report. For example, we recently announced a partnership with Clearway to develop a market for trading renewable energy certificates in the United States.
The announcement of this partnership in late June meant that the positive impact of reducing POWR circulating supply will be felt later and reflected in subsequent POWR Escrow Reports.
POWR tokens escrowed for projects onboarded over the past 6 months are 172,000 with:
- 172,000 funded by our project partners, meaning that POWR was purchased from the market, directly reducing the circulating supply, and
- 0 were topped up by Power Ledger from the Growth Pool.
In combination with POWR escrowed previously, POWR escrowed for Projects now totals 705,066.