Enrex x Satoshi Club AMA Recap from the 7th of April


Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Enrex and our guest was . The AMA took place on the 7th of April.

The AMA session was divided into 3 parts with a total crypto reward pool of $500

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&WebSite

Mary | Satoshi Club

Hello Satoshi Club! We are happy to announce our AMA session with Enrex! Welcome to Satoshi Club

Jonah 🏅🎹 | Satoshi Club

Our Guests today are @vytautas_enrex and @julius_enrex

Hello welcome to Satoshi Club

Vytautas

Hello Vytautas Co-Founder & CEO @ ENREX.

Julius Enrex.io

Always nice to participate when there’s a big crowd

Mary | Satoshi Club

Hello and welcome to Satoshi Club guys!

How are you today?

Jonah 🏅🎹 | Satoshi Club

I see you are excited for this

Vytautas

We are excited to participate in Satoshi AMA. We will see how it goes.

Mary | Satoshi Club

So, let’s go

We will start with introduction part as usually

Please, introduce yourselves and how did you start with crypto

Awesome experience!

Jonah 🏅🎹 | Satoshi Club

Impressive Background

Julius Enrex.io

I am leading the operational part of Enrex when it comes to environmental commodities. Primary experience is within renewable energy certificates, biofuels, green gas, carbon credits, carbon allowances. Commercial, regulatory and operational aspects.

My journey in crypto began during the first retail bullrun, somewhat mid 2017

Mary | Satoshi Club

Oh, we got a lot of smart people in 2017

What is Enrex? It’s main goals?

Julius Enrex.io

Ill take that as a compliment, haha

Vytautas

Imagine a platform which bridges crypto with mandatory renewable energy certificates and CO2 allowances for making every and any cryptocurrency green — a first of its kind DeFi gateway to a more than 300 billion dollar market.

Jonah 🏅🎹 | Satoshi Club

This sounds interesting

Vytautas

the main goal is a one stop shop for your carbon emissions , offsetting , speculating and integrating in other crypto ecosystem platforms.

Jonah 🏅🎹 | Satoshi Club

Btw how many people are currently working on this project?

Vytautas

12

Mary | Satoshi Club

Who are in the team? What are their experience?

Vytautas

full time , we also have engaged advisors and experts

Mary | Satoshi Club

Vytautas:

Vytautas Co-Founder & CEO @ ENREX 15+ years background in managing complex IT products in stages from idea to launch. Passionate in blockchain and creative thinking (41+ ideas validated within the past year).

In crypto from 2016 , reviewed and analyzed more than 300 projects in 2017/2018. Passionate on blockchain and crypto ecosystem…. Started as a trader with a small group of passionate crypto enthusiasts.

Jonah 🏅🎹 | Satoshi Club

Sorry about the bot

Vytautas

Vidunas our CTO → More than 15 years of experience coaching and leading tech teams (Sony Interactive Entertainment — Playstation, Barclays…). More than 6 years as a blockchain and crypto enthusiast with the experience working in multiple crypto projects as CTO/Co-Founder and conceptual architect (Mysterium Network — raised over 14 mln. EUR In 2017, HODL finance, Daratus…).

Also we have experts from environmental sector , it , marketing … you can check our team on linkedin

Mary | Satoshi Club

I see you have very professional team

Thank you for your intro guys!

We choose 6 questions from our community for the first part of our AMA ready to answer them?

Vytautas

Yep

Jonah 🏅🎹 | Satoshi Club

Q1 from Telegram user @thisistoyin

Given the Fact that Enrex is Obviously focused on making cryptocurrency more greener and it’s currency of the ecosystem is going to give it’s users the opportunity to invest in CO2 allowances and renewable energy certificates. I’m curious to know about the aspect of Solar Farms and renewable energy, is it that you’re going to Build Solar farms yourselves? Or you will be sourcing renewable energy certificates from solar energy, hydro energy and wind energy producers directly? Please clarify. Furthermore, giving that your Platform is Related to DeFI, I’d like to know about the Structure of your Project, is it a Centralized Platform whereby Decisions are made By your Team alone? Or is your Platform Decentralised whereby your community gets to participate & vote on decisions on Positve impacts of the path of the project?

Julius Enrex.io

Enrex will not build solar farms, nor develop projects. In other words — we are not primary market players. However, we will work with developers of solar parks, wind parks, carbon projects to help fund their projects. So while we will not build ourselves, we will closely work with builders to enable them to succeed. A very important aspect of this is the following — currently most environmental projects rely on govvernment subsidies. The more we can onboard natural real market demand, the more profitable these projects become — the less tax burden every person encounters in the fight against the climate change.

Jonah 🏅🎹 | Satoshi Club

At the moment how many of such projects have you helped through funding?

Julius Enrex.io

Regarding the decision making process — currently the direction of the project is decided fully by the team. However, as we move forward in expansion into more regions, more applications, more variability in projects to support choices — we will include our community in the decision making process. We always keep open ears to everything our community has to say, to feel the constant pulse when working together

Mary | Satoshi Club

Excellent answer!

Julius Enrex.io

At the moment we have built treasury with environmental instruments and while we are just launced, its over 10 different developers within recs and carbon offset space that received support (figure is somewhere between 10 and 20, wouldnt like to lie when asked on the spot)

Jonah 🏅🎹 | Satoshi Club

Great

Mary | Satoshi Club

Thank you for your answers! Ready to proceed?

Julius Enrex.io

always

Jonah 🏅🎹 | Satoshi Club

Q2 from Telegram user @MudaraSilva

You have scheduled three sales, Early Round, Private Round, and Public Sale. Who are eligible to participate in each round? I noticed that only 1.4% has been allocated for the Public Sale and the price per token is more than 2x (0.007$) compared to the Early Round (0.003$). What is the reason for neglecting this round? Moreover, there is an allocation of 16.4% for staking and community rewards. Please briefly explain about the types of these community rewards

Julius Enrex.io

Early and private rounds were led by VCs. As for our development we needed to start building environmental instrument treasury way in advance, we had to make the decision to rely on more capital being raised at pre-launch stage of the project. This allowed us to work on the product way before the launch. While we do understand that some might not like the idea of early investors making up the bigger part, we had to make a choice:

1. either we can launch with 90% of the product ready

2. or we keep bigger part in retail and then provide no products for >6 months after launch

Clearly its a no-brainer decision in my humble opinion. We dont want to launch and show nothing for it

Mary | Satoshi Club

How much did you raise in the private rounds? Can you name us some of your investors?

Julius Enrex.io

As for staking and community rewards — we have already done 3 airdrop campaigns as Enrex, and we like to collab with our partners. Our marketing department also did some meme competitions to engage the community. However the more important part is the staking — upon launch we already have operational and fully auditing staking protocol. 30/60/90 day pools with 30%/60%/90% APY accordingly. The biggest longest pool got filled almost instantly so our devs and working on replenishing for more capacity

Jonah 🏅🎹 | Satoshi Club

Your decision is understandable in this case

Julius Enrex.io

$1.8mln early round closed almost instantly in the month of November

$5.4mln private round closed through November-February

Notable names: Delta Hub Capital, Next100, Crypto Oasis, Blufolio, Legion Ventures and of course GSR

Mary | Satoshi Club

Great job congratulations!

Jonah 🏅🎹 | Satoshi Club

Awesome

Mary | Satoshi Club

Thank you for your answers! Ready to go to the next question?

Julius Enrex.io

Sure

Jonah 🏅🎹 | Satoshi Club

Q3 from Telegram user @Highpee

Your project roadmap primarily began in the first Q2 of 2022 which start with token launch and staking launch. Can you explain how staking will be performed on Enrex and how users can maintain a positive environment impact while staking assets on your protocol? Also, from roadmap, your project events and activities are few and it ends at the last quarter of this year (Q4/2022) after the launch of Enrex DEX. Does it mean that your plans for this project is restricted to this year alone? Apart from ensuring environmental sustainability, how do you intend to ensure your project continuous sustainability? What other medium-term or long-term plans will you introduce which can keep investors engaged to your protocol for long?

Vytautas

Thanks for the question Highpee. Regarding the staking we have launched it from the start as an utility after that it will be integrated directly to our main applications , stakers will receive their incentives directly from collected fees on offsetting application, exchange , and environmental api.

Julius Enrex.io

Highpee, lol

Vytautas

Stakers will receive $ENRX as incentives to offset their carbon emissions.

Regarding the roadmap we are not restricted by only this year as we see lots of different use cases to be implemented in the applications that we are working on. For example to get better exposure in the market we are launching a web activity offsetting widget this month. Anyone will be able to add a widget on the website with a freemium model.

Vytautas

Julius Enrex.io

I mean, it would be a crime not to add our staking link here

Vytautas

Regarding the long term goals → we are planning to evolve with different offsetting calculations and adding new environmental instruments. The possibilities endless as we are striving to be a one stop shop for your carbon footprint.

Julius Enrex.io

https://staking.enrex.io/home

Jonah 🏅🎹 | Satoshi Club

Thank you for sharing

Mary | Satoshi Club

Will your users influence on the future development? If yes, how? Will you have any kind of governance?

Vytautas

As Julius mentioned the community plays the main role and we always are looking for feedback in the community.

Jonah 🏅🎹 | Satoshi Club

Community is absolutely important

Vytautas

Regarding the governance we are still in discussions internally what model would be the best.

Mary | Satoshi Club

Gotcha

Mary | Satoshi Club

Thank you for your answers! Ready to jump to the next question?

Jonah 🏅🎹 | Satoshi Club

Q4 From Telegram User @QuianaV

Some of the applications of ENREX includes Enrex Exchange, Enrex DEX v2, ENREX offsettuing, Tracking offset and Environmental API. Can you share more information on the Enrex Exchange, how it will work and on which Blockchain it will be launched? Can you also explain on Enrex DEX V2, what will make Enrex DEX v2, unique from other DEXs? I also don’t understand the concept of Offsetting, Can you explain on ENREX offsetting and how users can track offsets? Lastly , can you explain on ENREX Environmental API and how it works?

Vytautas

Regarding exchanges → and the version 1 it will enable users to buy and sell environmental commodities without withdrawing them. In other words we will enable speculation on particular environmental commodities directly using crypto. Regarding the dex we are looking to Solana as our main network , the main difference is that we won’t synthesize commodities and will issue different claims.

Concept of offsetting. You can acquire commodity like for example carbon credit and also you can transfer it until you decide to use it , using it for particular reason means ofsseting. (with different environmental commodities comes different terms → cancel, use….)

When you make the offset that means that you have used the carbon credit and this particular carbon credit was used for a particular reason and cannot be reused a second time.

Tracking offsets → When you buy a particular environmental commodity and use it you will receive the certificate as proof of offset. We will push certificates to arweave and we will have the registry of all the offsets. So users could check for example particular Solana addresses and transactions that are covered with renewable energy certificates. That makes those transactions carbon neutral.

Mary | Satoshi Club

Will you expand your platform to another blockchains?

Vytautas

Environmental api will enable other crypto ecosystem players to integrate enrex for acquiring and using environmental commodities. For example NFT marketplace could integrate enrex and offer their clients acquiring carbon neutral NFTs as an option. Enrex will calculate how much energy was used for particular nft minting storing … and will cover this consumption with renewable energy certificates. Also we have different use cases for offsetting transactions, wallets …..

Julius Enrex.io

When it comes to calculations and offsetting assets, txs or NFTs — we already support multiple blockchains

Julius Enrex.io

Its just $enrx is on solana itself

Jonah 🏅🎹 | Satoshi Club

I’m a bit curious about the speculation on environmental commodities how will this work? What commodities are we looking at here

Julius Enrex.io

eu hydro recs, carbon allowances in Eu, carbon allowances in china in future, and of course high quality carbon credits that meet certain criteria

Mary | Satoshi Club

Wow

Jonah 🏅🎹 | Satoshi Club

Awesome

Julius Enrex.io

You want to have as homogenous products as possible, and some instruments have a lot of specifics, so the goal is to make speculation possible through homogeneity of the underlying asset

Mary | Satoshi Club

Thank you for your answers! Ready to go to the next question?

Julius Enrex.io

For sure

Jonah 🏅🎹 | Satoshi Club

Q5 From Telegram User @victorogb

Going through some of the utilities of Enrex ecosystem, I was particularly interested in its function to Users and Authorities (Government and Regulatory bodies). It is noted that Enrex will directly benefit to Startups, Traders, Corporations, Developers, Power Plants and lots more. Noting the specific job functions and industry importance of these entities as listed, can you carefully elaborate how Enrex is built to satisfy and provide the best renewable energy options, and how can they leverage on this partnership with Enrex to make informed decisions that are both sustaining and Carbon neutral? Finally, can you let us know the extent to your cooperation with governments and authorities; what regulations and products has this shared alliance forged?

Julius Enrex.io

Alright, so the best renewable energy options, and in general when speaking of environmental instruments — we only go forward with instruments that are legit, audit proof and has withstood the markets for more than a decade. Meaning that if you would offset yourself with these instruments, and show your carbon audit to pwc, ey, kpmg, deloitte or any other auditing expert — they would give you green light. Its mostly important to go with standards that are widely accepted in the industry and not re-inventing the bike.

With respect authorities and governments — it is kinda funny because almost every time this pops up as a question. Crypto people really are afraid these terms more than they should. As we are working in secondary markets, we are driving the demand for these environmental instruments and creating more pathways for crypto industry to go the green way. This is highly encouraged by every single entity that operates within the space. More demand — better development in the renewables market — faster achievable carbon neutrality goals that so many countries have set for 2050.

Julius Enrex.io

We work with M-RETs, IREC Standard, Verra, Gold Standard, Association of Issuing Bodies and EU ETS

Mary | Satoshi Club

Do you need any lisences? If yes, do you already have any of them?

Julius Enrex.io

Yes and yes. You need to have authorized access to these registries. Whether license is the correct term, would not bet my money on it, but every registry calls it differently

Mary | Satoshi Club

Thank you for your answers! Ready to go to the 6th and last question from this part?

Jonah 🏅🎹 | Satoshi Club

Q6 From Telegram User @Ask4unik

Enrex will launch the first exchange and the first retail access on Solana for CO2 allowances and renewable energy certificates. The platform acts as a bridge to unlock digital asset services by combining the features of real world assets and modern cryptocurrencies with speed, security and cost savings at the forefront. It is a secondary market for CO2 allowances and RECs.Can you please tell us some of the assets to be unlocked? About Enrex security, how can you ensure that users data are safe and can’t be altered by a third party?Since the first launch exchange and retail access will be in Solana,do you plan for a second launch on another Blockchain? Thanks

Vytautas

We will start from renewable energy certificates and using them in our ecosystem. So the main question regarding security is that we will store all the data on decentralized storage. Enrex will be integrating to issuing parties of specific certificates and storing offsets directly on arweave. Almost all of the data will be publicly available of particular offsets as we don’t see specific needs to make it private. The only part that will be private is the certificate itself , but as enrex we won’t store it as I mentioned and we will use decentralized storage providers.

Regarding other chains → ENRX as a token is based on Solanas as we needed very cheap transactions for offsets as in some cases for instead using ETH the transaction could cost more then the carbon offset of the transaction. We have a beta offsetting application you can check it on our website. The main difference is that you can offset transactions of any integrated blockchain into our offsetting application and use ENRX token as a payment.

https://dapp.enrex.io/home

Jonah 🏅🎹 | Satoshi Club

Do you already have any decentralised storage options on ground?

Vytautas

Yes we will be using Arweave as a decentralized data provider

Mary | Satoshi Club

Guys, it was impressive first part! Now we came close to the live part of our AMA session! Before it will start could you please share your social media links with our community, so we won’t miss any updates from you

Julius Enrex.io

https://linktr.ee/enrex

This would be the best comprehensive list of our twitter, telegram, discord, all in one place

Julius Enrex.io

and for the lazy souls:

https://t.me/enrex_community

Mary | Satoshi Club

Thank you! Ready for the storm of questions?

Julius Enrex.io

one moment, let me turn off phone notifications

last time it went in overdrive

Mary | Satoshi Club

Ahaha

Julius Enrex.io

ok lets go

Mary | Satoshi Club

Let’s go

Part 2 — live questions from the Telegram community

Q1 from Telegram user @uncrowned_king_007

From where we can buy $ENRX TOKEN? And on which Blockchain network it’s based on?

Vytautas

Solana based at the moment you can swap it on raydium → https://raydium.io/swap/?inputCurrency=EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v&outputCurrency=5s4BYUXLuvs9ZcVDTxkTpKhThWFSpaU8GG55q2iySe2N&inputAmount=0&outputAmount=0&fixed=out

Tomorrow we are listing on Mexc so stay tuned.

Q2 from Telegram user @Cheriemike

One of Enrex application products that let users navigate the inner working of the Enrex ecosystem is Enrex Offsetting.So when it comes to operatiobs like crypto transactions,smart contracts,ICO/IEO/IDO and Mining which of the certificate in your Dapp can one make use of?Can one make use of both the CO2 allowances or the renewable energy certificate?Can you give an elaborate explanation on the Enrex Offsetting and why it is important to make use this feature?Please explain Thanks

Julius Enrex.io

As crypto activities are electricity related, you can definitely use renewable energy certificates. However, at the same time, you can calculate the CO2 impact of the electricity consumed and use CO2 related environmental instrument — a carbon credit or carbon allowance, whichever you seem more fit. We decided to provide options to users, as certain people/companies have different outlooks on different instruments. RECs support renewable energy producers. Carbon credits support projects done in 3rd world countries that save CO2. Carbon allowances impact the big polluters within the EU. All have their own beauty and we do not discriminate and give the choice to the user

Q3 from Telegram user @Sulyvahn_DS

What types of users Enrex is has as customers and does your customers vary ?

Vytautas

We are going b2b and b2c → exchanges , wallet developers, launchpads , or any website.

Q4 from Telegram user @Dino916

In My Thinking, 
 Enrex Project is quite Complex to Understand for any New user,

How would You Explain Enrex Project to thise kind of users who are very new to Crypto?

Julius Enrex.io

You are correct. Environmental project is quite much more complex than an NFT collectible or gaming project. That is why we are always putting up information and material to educate the market participants. Also, big reason why we believe participation in AMAs is important, to answer questions that might seem obvious to us, but not to people who havent worked within the environmental industry.

On top of that, we are partnering up with eco crypto projects, to unify our educational efforts when it comes to teaching the market about environmental impact of crypto and how to make it better. Some of the names of partners and organisations are greentech alliance, crypto climate accord, ecorise, solid world dao, moonjelly dao, coorest and many others to come

Q5 from Telegram user @isabella_blackk

What is the most positive value that Enrex currently offers to the blockchain market and users, investors? What are the real world gains Enrex has brought to the market when we think about the Environment and the crypto industry?

Vytautas

make crypto green again you can offset your transactions and crypto assets. That means we are covering carbon footprint of crypto currencies with environmental instruments.

Q6 from Telegram user @Rakshhit

Can we Mine $ENRX token? If yes is it Environment friendly?

Julius Enrex.io

No, there will be no mining. Tokens are minted with fixed supply and also a burning mechanism. We noticed that mining is getting quite some harsh attention in both EU and USA. Which is why miners are one of our key focus when it comes to helping reduce their carbon footprint. If we can help them reduce their environmental impact, we can make sure that regulators make an easier transition into full crypto adoption

Q7 from Telegram user @captainprice111

I realize that the Enrex platform is primarily focused on making cryptocurrency greener, so the ecosystem’s currency will allow investment in CO2 allowances and renewable energy certificates. How will the team sustain this potential project and ensure its longevity? Will Enrex continue to scale by adding more environmental tools and more regions?

Vytautas

As we mentioned we will add more and more environmental instruments and calculations. Also we are looking in presenting different type of user friendly offsetting for different purposes.

Q8 from Telegram user @Tahsinahmett

Do you have communities with different language options on the ENREX platform? Is ENREX suitable only for those who speak English, if you expect it to gain a global value, will you create communities of different language options of the ENREX platform?

Julius Enrex.io

Yes we do. We have main channel that is international and uses english:

https://t.me/enrex_community

We also have philippino community:

https://t.me/enrexph

Recently launched Chinese:

https://t.me/EnrexCN

And Russian speaking community:

https://t.me/EnrexRussian

Q9 from Telegram user @ikaFelicia02

Security audits are extremely important for any crypto projects. So, can you explain if your project has been audited to convey confidence and security to the crypto community that is interested in investing in your project?

Vytautas

Yes its been audited you can check it on our webpage.

Q10 from Telegram user @deku_x_midoria

What are the formalities we need to complete as a user in order to register on your platform? Is there any KYC required or not?

Julius Enrex.io

Thats the beauty. We help to eliminate this burden from users who otherwise would have limited to no access to environmental instruments. Our platform requires no KYC

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club/
Russian Telegram group: https://t.me/satoshi_club_ru/
Spanish Telegram group: https://t.me/satoshi_club_spanish/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/

Our partners:
Telegram –https://t.me/enrex_community
Medium –https://medium.com/@enrex
WebSite — enrex.io 
Twitter-https://twitter.com/enrex_crypto

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