Dear POWR token holders and the larger community,

There has been plenty going on at Powerledger with new clients joining us for several major projects. Tata Power, and Carlton United Breweries, to name two and form a backdrop of some of the interesting changes we are announcing here and in the coming week.

Escrow Report: July 2020 - June 2021

The total amount of escrow POWR for the last 12 months is 1,988,743.

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

You will see 5,502,004 POWR held in Powerledger’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 Escrow Report 5, we are preparing for a major announcement in a week’s time.  

The background of this is the need for growth and finding a blockchain that will enable us to scale, which inevitably means speeding up. To that end we will be migrating off the Ethereum blockchain, however, POWR will remain on Ethereum as an ERC20 token. 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 burning and providing POWR token staking instead, something many of you have been asking for a while, so we’re delighted to be able to put this into action.