Unergy
  • ☀️Introduction
    • Abstract
    • Motivation
  • 🔃Protocol
    • Introduction
    • The uWatt: A stable currency collateralized in clean energy
      • uWatt reference value
    • Project origination
      • pWatt tokens
      • Project milestones
    • The Swap
      • Swapping pWatts into uWatts
      • External pWatt holders
      • Swap factor
      • pWatts ‘outside’ the Reserve
    • Energy tokenization and generation tracking
      • Tracking of energy monetization
      • Renewable Energy Certificates (RECs)
    • Management of funds in the Reserve
      • Collecting project income
      • Operation and maintenance expenses
      • Liquidity pool funding
      • Depreciation compensation
        • Asset value calculation
        • Asset depreciation compensation
        • Avoiding overcompensation
      • Distribution of rewards
  • 🗳️Governance
    • Overview
    • Choosing the cash flow discount rates
    • Protocol upgrades
    • Milestone validation
  • 💡Remarks
    • Types of projects
      • Self-consumption projects
      • Utility-scale solar energy Projects
    • Nature of the Unergy Protocol tokens
      • Nature of the uWatt token
      • Nature of the pWatt tokens
    • Incentives for funding Projects
  • 🚒Risks and mitigation
    • Origination risks
      • Delays in the construction or procurement phase
      • Failure to install the Project
    • Real-world funds management
    • Project qualification
      • Technical feasibility
      • Financial feasibility
    • Installer qualification
  • 📓Miscellaneous
    • Protocol implementation
    • Definitions and terminology
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  1. Protocol

The Swap

PreviousProject milestonesNextSwapping pWatts into uWatts

Last updated 1 year ago

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When all the 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

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milestones