Established solar farming company joining the crypto space
SunMoney Solar Group is bringing an exciting new token to the cryptocurrency market. Let’s start off by looking at who the people behind this project is. It is actually an established solar power, the SunMoney Solar Group, they have been operating since 2013. They specialize in solar power solutions and operate a combined capacity of 20 MW (megawatts) around the world. Since blockchain and cryptocurrencies have been surging in popularity around the world and proven its technological advancements, SunMoney Solar Group is now ready to join the crypto-space. They are creating a token that is tied to their solar power operations. The proceeds of this ICO is going to be used for expansion of their solar power operations. This creates an environment where buying a token could raise its value long term because of a buyback system. SunMoney Solar Group is using 20% of annual profits or 3% of annual turnover, whichever is highest, to buy back SMT tokens and burn them. This makes the total supply of SMT tokens deflate proportionally the success of the solar power operations, which could cause the value of SMT tokens appreciate. Holders of this token will also have access to benefits such as discounts when purchasing. This is what the sum of the buyback program could look like
What is to come
SunMoney Solar Group aims to expand their energy rate to 30 megawatts, a 50% increase from its current 20 megawatts. Users will also be able to buy crypto mining contracts which use the power generated from the solar farms. People who use the ERC20 token, SMT, will get a discount on purchasing these. As an effort to keep up with the latest technological trends, blockchain technology will be implemented in various sectors of the SunMoney company, such as the account system and payment system. Something that is always important for an ICO is to have a big market to tackle and preferably one that is also growing. In this case, we have a combination of both, the market for electricity is always growing and the demand for electricity is expected to double in the next 20 years, and quadruple in the next 40 years. More and more of the world is beginning to demand green energy sources, like solar energy, which is exactly what SunMoney Solar Group is producing. SunMoney is always looking to expand their business, and have provided the public a chart of their current solar parks, those under development, and those who could potentially be built in the future, see chart below
To fund their project, SunMoney is raising funds through an initial coin offering (ICO), selling their ERC20 token SMT. The SMT token will allow token holders to receive discounts on services provided by SunMoney. A buyback system around SMT tokens has also been set in place to make the total supply of SMT deflate over time.
The pre-token sale started the 1st of February
The token sale ends the 15th of April
150 SMT = 1 ETH (Bonuses apply to different phases, see picture below)
- Total amount of tokens issued is 10,000,000 SMT
- A maximum of 7,200,000 SMT will be for sale during the ICO
To learn more about the team and their advisors, visit the official website at: https://sunmoney.solar/ or read their whitepaper here: https://www.sunmoney.solar/SunMoney_SMT_WhitePaper_v1_1.pdf
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
ETH Address: 0xf70587748F6B7cc05cb53F85a47aa55F35Ff3b02
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