Dear POWR token holders and larger community,

There has been plenty going on at Power Ledger with some new clients joining us with major projects.

Tata Power, and Carlton United Breweries, to name but two and these form a backdrop of some of the interesting changes we are announcing here and in the coming week.

Escrow Report: July 2020 - June 2021

Firstly, here are the escrow numbers for the last 12 months:

1,988,743

The start of 2021 saw rising POWR prices, which meant that less POWR was escrowed for provision of services to customers. 

You will see 5,502,004 POWR held in Power Ledger’s escrow wallet address here: 

https://etherscan.io/address/0xe4EA2e9181fB9EeB3c6Dd28a2ec59174ff76C0f3

In the next 24 hours we will be transferring a further 1,988,743 POWR tokens into the wallet.

Scaling up

In addition to this Escrow Report #5, we are preparing for a major announcement in just a week’s time.  

The background to this is the need for growth and finding a blockchain that can help us scale up, which inevitably means speeding up. To that end we will be migrating off the Ethereum blockchain, however POWR will still remain on Ethereum. While the Ethereum blockchain has served us well in 2017, it is time for us to find a new place to call home. 

More details of where we’re going to and what we’ll be doing when we get there will be announced in a matter of days, but suffice it to say it’s all good news and very exciting.

POWR Token Staking 

With a new home, comes a new arrangement. In the future, we will be suspending POWR token burn and providing POWR token staking, something many of you have been asking for a little while now, so we’re delighted to be able to put this into action. Co-founder and Technical Director, John Bulich will be giving you a much fuller picture next week.

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