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The strong growth in energy consumption is forcing governments and players in this sector to rethink existing models, through the integration of renewable energies into production systems. Blockchain technology has the potential of becoming the real catalyst for a complete reorganization of the energy sector, bringing a high degree of transparency to this ecosystem.
This is precisely what SWITCH intends to achieve by setting up a marketplace dedicated to energy supported by a token that will be the main tool ensuring its operation.
SWITCH is a specialist in the field of energy and has become one of the French leaders in the field of energy cost optimization. The company responds to a major need in the energy field: the lack of information and time available to individuals. The solution developed by the SWITCH team is therefore a turnkey service aimed at optimizing these energy outlays.
SWITCH is the first “energy store” in France that offers customers the option to choose their own supplier according to their budget. The company’s offer is developed around the following products: SWITCH Call for telephony and SWITCH Energy for gas and electricity. The first “Chez SWITCH” franchised store was opened in 2018 in Reims and 10 other stores are currently in operation. The firm aims to roll out 200 stores across Europe by 2023. In addition, SWITCH plans to expand its model to other energy sectors, such as water.
In figures, SWITCH is :
- 1.5 million existing customers
- 15 years of experience in the energy sector
- 500 employees
- A turnover of 5 million euros in growth
- More than 5,000 customers per month.
To facilitate the implementation of its objectives, the firm has proceeded to create its own cryptocurrency: the SWU which will be used in this structure, with consistency at the heart of its concerns, offering customers access to the cheapest energy on the market.
SWU (Smart World Union) is a multi-functional ERC-20 token created on the Ethereum blockchain. Like most digital currencies, it enables transparent, fast, secure and verifiable transactions on the blockchain at all stages of the value chain from production, buying and selling to delivery and consumption.
The SWU token will be accepted as a means of payment within the SWITCH ecosystem for the services offered as well as for the payment of energy consumption. Discounts will be provided for payment in SWU tokens.
One of the most important features of SWU is its liquidity: it can be used on several blockchains, such as Ethereum, Solana or Binance Smart Chain.
Expected benefits for SWU token holders
SWU staking will entitle the holder to an annual return in rewards. Holding SWU tokens will also allow the holder to participate in certain SWITCH decisions and to take part in the evolution of the company over time, particularly in its international development.
SWITCH also plans to set up a sponsorship structure designed to create an ethical circle of green energy, through the participatory financing of projects with an ecological purpose. SWU holders will also be able to choose the projects they want to support.
An ICO for the launch of the SWU token
The SWU offering will have 300 million units which will be distributed as follows:
50% will be distributed at the ICO
20% will be held in reserve
15% will be allocated to marketing and bonuses
15% will be allocated to associates
A pre-sale operation of SWU took place in December 2020, with 5,000,000 units issued at €0.04. The actual ICO is expected to take place during September, with a price set at €0.08 per unit. In October, the SWU will be available on the market at a price of €0.10. Unsold tokens will be destroyed, to limit the number of tokens in circulation.
Each transaction will be subject to a levy of 3% of the tokens, of which 1% will be burned, 1% will be redistributed to long-term holders and 1% will be used to fund sustainable development projects.
To learn more about the project: https://www.swu-coin.com/en
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