Nature of the uWatt token
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uWatts are tokens that represent partial ownership of the Reserve of clean energy-generation assets. The main purpose of a uWatt is to serve as a stable store of value, a medium of exchange, and a unit of account that is based on the energy production capacity of the operational Projects in the Unergy Protocol Reserve.
Thus, the uWatt is a Currency Token, whose supply depends on the value stored in the Reserve, and that gives certain rights to its holders and certain obligations for Unergy.
When Unergy swaps pWatts in the Reserve to issue uWatts, it acquires the obligation to ensure that the income generated by the Projects tied to those pWatts are liquidated in USDT, then handed over to the Protocol for the management of those resources following the rules stated in the section about the .
In addition to the above, the uWatt holders acquire the right to “cash-out” or “redeem” their uWatts into an equivalent amount of pWatts (value-wise) “outside the Reserve”, that serve as a legally-binding equity position in a real energy producing Project. In order to redeem their uWatts, the holder must own an account in the Unergy platform and have passed a KYC / KYB validation.