Eloncity (ECT) Overview
Eloncity – Decentralized Renewable Energy Platform.
|Initial price||1 ECT = 0.12 USD|
|Total tokens||1 000 000 000 ECT|
|Hard cap||33 000 000 USD|
|Soft cap||10 000 000 USD|
Eloncity wants to create blockchain ecosystem for building and deploying decentralized energy resources. The generated electricity will be distributed through specialized networks of self-sufficient microgrids. Any user will can connect to the network and use the resources provided, as well as sell their own eco-friendly electricity. Electricity will be stored in the Smart Energy system using new technologies (for example, IoT), which will allow to distribute renewable energy at a minimal cost, and Blockchain technology will ensure maximum transparency and safety.
Eloncity will encourage all ecosystem participants and motivate them to produce and use green electricity, rewarding them by tokens . Tokens will be received not only by miners, but also by electricity producers who will receive money from its sale and also by buyers. As the total energy intensity of the ecosystem rises, the compensation decreases, which will lead to an increase in the cost of the ECT token.
It is expected that the renewable energy market will be valued at $ 2,152 billion by 2025 with an CAGR of 4.9%, according to Allied Market Research. Prospects for the development of the market will create an opportunity for new companies, like Eloncity. The project will have to compete with other Blockchain start-ups, in particular WePower and PowerLedger, which have already begun the implementation of their products.
The project team includes highly qualified specialists with extensive experience in various projects. Basically, the team members were founders and employees of the company POMCuve, specializing in optimization of costs and storage of electricity, as well as in renewable sources of electricity.
The project secured strategic partnership with electric battery factory (CATL), producer of electronic and fiber optic connectors (Amphelol), as well as fabless semiconductor company (MEDIATEK). Investors of the project are large venture and crypto funds - OK Blockchain Capital, Fenbushi Digital JRR Crypto and others.
Whitepaper of the project does not include market analysis/analysis of competitors, marketing forecast and promotion plan. Marketing strategy after project launch is unclear.
We claim that Eloncity has inherent legal risks, since the project does not have any agreements with governments and regulators, which is important for the power industry.