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The Swap

When all the milestones are completed, the Project is now ready to begin its operation. This marks the beginning of the productive lifetime of the clean energy-generating asset. Since pWatts were issued with the purpose of originating the asset and this objective is now fulfilled, depending on the type of the pWatt holder, one of two things happen:
  • The pWatt tokens are swapped for uWatt. This is the most common scenario and will allow the Protocol to take control over the management of the originated asset. The Project (or a fraction of it) will now be part of the Reserve; or
  • The pWatts are not swapped, and this will allow the investor to actively receive and manage the yields produced by the Project directly. In this scenario, the entity that is represented by the external holder (i.e. investor, fund, or organization) is required to sign a legal agreement.
The Protocol also allows an external holder to "swap in" their pWatts of operating Projects into the reserve, in exchange for uWatts