Energy Web (EWT) — August 23, 2023

3 min readSep 1, 2023

Energy Web is a global non-profit on a mission to accelerate the energy transition by developing and deploying open-source Web3 technologies that help companies unlock business value from clean and distributed energy resources.

Community

Discord — 9.9k
Twitter — 71.1k
Telegram — 8.7k

Tokenomics

Framework

Energy Web uses a Proof of Authority (PoA) consensus mechanism.

The Energy Web Chain (EW Chain) aims to provide the digital infrastructure that connects the grid operators, customers, and physical assets (like solar panels, thermostats and electric vehicles).

Central to running the EW Chain is the Energy Web Decentralized Operating System (EW-DOS), a stack of technologies designed to connect participants within the energy market to increase grid flexibility.

Key to the network’s operation is the Energy Web Token (EWT), which is the native cryptocurrency of the Energy Web Chain and is used to compensate key network operators and allows those who hold it to pay for decentralized application services built on the platform.

Tokenomics

The Energy Web Token (EWT) is the native utility token of the Energy Web Decentralized Operating System (EW-DOS).

4.78 annual inflation of the circulating supply

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Utility

Tokens are used in EW-DOS to pay for gas fees on the Energy Web Chain, and for staking to secure the Energy Web X blockchain as well as Worker Node Networks.

Distribution

Affiliate investors received 21,198,208 EWT.
Founders received 10,000,000 EWT.
Validators will receive 10,000,000 EWT as block rewards over the next 10 years.
The Energy Web Foundation received 58,801,792 EWT for use in operations and the development of new technologies.

Staking

Staking rewards and community fund tokens represent 48M EWT and will be released over a ten-year period.

Scalability and Value

The Energy Web Token EWT cryptocurrency plays a key role in maintaining and operating the Energy Web network, and can be used for holding, sending, or interacting with applications.
By owning EWT, users gain the ability to participate in the suite of products and services built within the Energy Web ecosystem, as well as send EWT to any other participant on the network.
Additionally, Energy Web rewards validators with Energy Web Token based on programmatic rewards and fees attached to each transaction included in a block.

Volta Token

Volta Tokens are utility tokens specifically for The Energy Web’s Volta Test Network. Volta tokens have no real value. You will need Volta Tokens in your digital wallet if you want to make transactions or use applications that are deployed on the Volta network, such as Switchboard or the Staking beta site.

Governance

The Energy Web Chain is governed by its community of known, vetted validators.

The fundamental tenet of the EW Chain governance mechanism is “one validator = one vote”, so each validator is equal in terms of decision-making power. The primary function of the governance mechanism is to make decisions regarding:

Validator eligibility & operational standards / procedures
Technical changes & updates to the EW Chain (e.g. network upgrades, client updates, etc.)
Utilization of the Energy Web Community Fund
Evolution of the governance mechanism itself