The future is decentralized, it is deflationary and it is sustainable.
The Business
QoWatt is a startup seeking to support the burgeoning crossroads of the Green industry and the automotive industry. With electric vehicles becoming more and more mainstream, there is a gap emerging where consumer demand is beginning to outpace the infrastructure needed to support it. Replacing gas stations with charging stations won’t happen overnight and there is an opportunity now to tap into a brand new market.
Everyone from large corporate entities to municipal services to small businesses and landlords will eventually need charging stations for their fleets or for the people they serve. We are moving from a system where fuel is centralized into a few corporations who control all aspects from acquisition to transportation to refining, all the way to the end user buying the finished product from their stations, to a more decentralized model where the end user will be able to plug in their vehicle wherever they happen to be parked. These stations won’t be on every other street corner, they will be in every parking lot.
The France based QoWatt plans to step in here and build the largest European network of charging stations by helping small businesses and landlords keep up with the new legislation that will require parking lots to provide a certain number of terminals according to their size. Their offer? zero cost to the property manager for installation, from which they will receive a percentage of the fees earned for each kWh delivered. The other portion of the fees will go to QoWatt to cover operating costs and to give it the power to expand further. They currently have 9 terminals up and running with more coming soon.
The Token
By now you may have noticed the QWT token trading on Xexchange and other platforms around the MVX ecosystem. You may even have some in your wallet from participating in Metabonding and are wondering what they are. Payments at each terminal are only accessible by credit card so you may be wondering how this token fits into their business model and what their NFT ecosystem is all about. This article is here to help you understand this project and decide what to do with these little buggers.
Tokenomics
A dynamic model has been implemented in order to better tie the performance of the token to the success of the business. Each new terminal will take one million tokens out of the system over time and each kWh charged will introduce only one more. This will over time increase the token scarcity as the network grows. This is where the business side of this project interacts with the token and NFT side, which are two separate though tangentially connected systems at this point. The token will become more scarce as the company grows, increasing its value thereby giving each individual token a larger share of the liquidity in the pool, which will in turn grow if more investors come to participate.
So, this is a dynamic deflationary supply model for the tokens where the liquidity for the value of these tokens comes solely from other investors and the fiat profits stay with the business side (as it stands now, and although there is potential for this to change, no such change has been announced so keep this in mind.) Then as the business grows it will make the token deflationary and once used to purchase an NFT, 15% will be burned with the rest being recycled to staking rewards so this will also reduce the supply over time.
Utility
At this time the utility in these tokens is in minting DAO Seat NFTs
If you are reading this and thinking that you would love to get involved and purchase a DAO seat so that you can have a voice in the future of this project, earn rewards, and get a discount at the terminal, here is what you need to know. There are in effect two classes of NFTs available for purchase (either minting through the QWT token, or on secondary): The DAO Seat NFT and the QoWatt Coin.
The DAO Seat NFT
Take a breath and focus for me because this gets a bit complicated. There will be 5 tiers of seats, each with more influence and benefits than the last, and thus each tier costing more QWT. They will be released in 10 generations, each generation being for 10% of their respective total supply. The mints are time limited, each generation lasting 6 months, after which the remaining supply will be burned. This means that they may not mint the maximum number of seats available and the only way to get one after that will be on secondary.
After all generations have been minted (0-9), a final generation (X) will make available a ‘basic’ version of these seats so as to reach their maximum supply and this will have no time limit. These will allow for DAO participation and discounts but will not come with enhanced staking or partnership benefits.
These DAO seats are used for governance decisions, with each tier collectively controlling 20% of the vote, as well as staking for QWT rewards and will come with an RFID for discounted charging (announced, not yet implemented and will require KYC.) The staking system recycles spent QWT tokens back to you as well as provides special benefits from their partnerships with various other projects or special airdrops over time.
QoWatt Coin NFTs
When staking for rewards, you may have access to a boosted staking pool. These special pools allow you to claim special NFT coins that are worth 1,000 QWT tokens each and may be used to mint their NFTs. So if you are looking to buy a DAO seat, it may be worth it to look on a secondary market for these as you may find a better deal than swapping directly on an exchange. Currently the cost of the lowest tier is 10k QWT, which costs more than 3 EGLD on Xexchange but on secondary ten 1000 QWT Coin NFTs will run you about 2.8 EGLD. As these seats may also be available for less than the current price in EGLD if you are buying QWT exclusively for this purpose it may be worthwhile to check. This is particularly true for past generation NFTs as these will not be eligible for the special partnership rewards made available to the current generation. Be sure to check on who current partner is and what the rewards are to see if this is important to you. Previous partnerships include Symbiosis, and Zoidpay.
Links:
Whitepaper
Business-facing website
Web3 website
Social Media:
NFTs:
Coins
Cards
Cars
DAO NFT Gen1 (cards) minting
DAO NFT (cards) staking
Disclosures:
I do not hold nor have I ever purchased QoWatt tokens or NFTs nor do I plan to do so in the near future. This may change but for now this is not something I am able to participate in.
All graphics are taken from the QoWatt Whitepaper.
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