Project Updates and Major Announcements
Energi has announced the next major step in its development: Energi 3.0.
Energi 3.0 will involve a transition to a smart contract platform. Smart Contracts are powerful tools that are both immutable and distributed, providing security and reducing transaction costs associated with traditional contracts.
This platform will be adapted from Ethereum, which means it will maintain compatibility with apps written on the network. This will not only make it easier for users and developers to move to the new smart contract platform but also allow for the Defense Team at Energi to secure and protect the network. Additionally, Energi will offer engineering and marketing support for those looking to develop on the platform. Extra security and support are attractive features to those looking to develop on a smart contract platform and are made possible by Energi’s powerful treasury model.
Energi’s ‘next level’ will bring the project closer to its ultimate goal of world adoption. It provides virtually all of Ethereum’s capabilities together with Energi’s strongest aspects: the Treasury, Masternodes, and Governance systems.
Once Energi moves onto a smart contract platform, it will begin adopting existing Ethereum infrastructure such as MyEtherWallet (MEW). This upgrade will also enable Decentralized Applications (dApps) to migrate to the Energi ecosystem. By the end of the year, Energi will begin onboarding the most impactful blockchain projects and dApps into the Energi platform. Energi will also begin giving grants and providing support via the Incubator Program for what are determined to be the most powerful upcoming dApps in the space.
Energi is giving away NRG on its Discord channel to users who chat in the channel. Energi created the Rain Channel [#energi-rains] to increase community engagement and, most importantly, to give back to the community because, without their support, the project wouldn’t be in the position they are in today.
Users simply enter Energi’s Discord and go to the ‘RAIN CHANNELS’ section. Users should view the #rain-rules (which summarize the do's and don’ts and list all commands that can be used with the Rain Bot).
Register in #bot-commands with the bot by typing out the ‘//register' command. Once registered, users will now have an NRG address within Discord that they will be able to send/deposit/withdraw from.
The ‘//rain’ command distributes a designated amount of NRG to the last active members within the Rain Channel. The Energi team uses this sporadically to rain NRG, but users can use this also. Users will need to transfer NRG into their account or redistribute NRG that they’ve acquired through previous rains.
Energi Listed on KuCoin
Dear KuCoin Users,
KuCoin is extremely proud to announce yet another great project coming to our trading platform. Energi (NRG) is now available on KuCoin. Supported trading pair includes NRG/BTC.
Please take note of the following schedule:
Deposits Effective Immediately
Trading: Effective Immediately
Withdrawal: 14:00 Mar 2, 2019 (UTC+8)
Energi Basic Information
Energi is a fully decentralized cryptocurrency that brings together solutions to existing blockchain implementations, as well as improve upon the strengths that have made other blockchain projects succeed.
Block time: 1 minute
Hashing Algorithm: EnergiHash (ASIC-resistant)
Masternode requirements: 10,000 Energi
Proof-of-Stake requirements: 1 Energi
Treasury cycle: Every 14 days
Approximately 1 million Energi are released per month. The allocation can be observed easily as “10/10/40/40.”
10% to the Energi Backbone
10% to Miners
40% to Masternodes
40% to the Treasury
Energi Company Summary
Energi brings an upgrade to the economic design of cryptocurrency. It has an innovative, self-funding treasury model with community governance built into its core. Energi has a system of decentralized governance run by masternodes. Masternodes are incentivized full nodes, operated by stake holders in units of 10,000 NRG. Masternodes provide tier 2 consensus including scalability and governance, and earn NRG rewards for the services they provide to the network.
Energi is building the blockchain of the future. The project differentiates itself from other blockchains with its innovative economic model, feature developments and user protections. They specifically chose to avoid an ICO or to allow pre-mining. Instead, 1,000,000 NRG coins are mined monthly, 10% of which is allocated to the Backbone, and there is no limit on the coin supply. The Energi mainnet launched in April 2018, and smart contract functionality is currently under development, due to launch later this year. Once Energi transitions to its smart contract platform, it will proceed to build a Startup incubator to offer advisory services. Energi is serious about security and user protections. The Energi Bureau of Investigations (EBI) division serves to protect Energi’s user base from hackers, scammers, and other bad actors in the space.
The CEO of Energi Core, Tommy, has been in the cryptocurrency space for over 5 years, has an extensive social media following and is a well-respected thought leader. To avoid the significant downsides of undergoing an ICO, he instead provided the seed funding for the development of Energi, until its self-funding model was in place.
Energi’s mainnet is fully operational, with features continually rolling out. The system is fully decentralized and does not depend on any third parties.
Energi is a blockchain with a constant supply of NRG 1,000,000 per month. The system is built on four core values: Trust, Awareness, Usability, and Availability. Through these values, Energi aims to become a globally prevalent cryptocurrency platform.
Energi is self-funded through one of the largest treasury allocations in the space. This treasury funding allows for a viable long-term model that will grow the technology and the community. Energi leverages its robust treasury by making only data-driven investments where a dollar spend yields many more dollars in ROI. This positive feedback loop leads to exponential growth.
In terms of governance, the system is fully-decentralized, meaning the community is in full control of the project's development. Furthermore, an Incubator Program will be created, which will offer advisory services to the start-ups participating in it.
The project focuses on providing real-world differences, rather than only focusing on technical aspects. Energi is transitioning to a smart contract platform, which is a considerable technical endeavor, and with their extensive team, they can simultaneously focus on real-world concerns such as protection of users funds, and large scale marketing endeavors to increase awareness and use of cryptocurrency as a whole.
Legal & Disclaimers Description
Team and Advisors Description
The information about the team is provided with pictures, titles, a short summary of each member's background, and links to their LinkedIn profiles. It should be noted that all team members and advisors are presented with only their first names.
Roadmap & Milestones
The roadmap is separated into quarters and covers the period between Q3 of 2017 to Q1 of 2020. The milestones are separated into two categories: completed and upcoming.
Team And Advisors
Tommy (or as he is known as “TommyWorldPower”) is the CEO of the project. His full name could not be found. He comes from a business background, holding a degree in Economics and Finance. Throughout his career, he has taken many roles including Paralegal, Sales Manager, Director of Sales and Marketing, Senior Consultant, and Senior Mortgage Banker. Since 2013, Tommy has been involved with the crypto world as a Youtuber/influencer.
Ryan Lucchese – President
Ryan comes from a technical background, holding a BS in Engineering Physics. Prior to developing the Energi Software, the President worked as a Software Engineer for almost seven years at two firms.
Carolyn Seet – VP – Head of Operations
Carolyn holds a BA in Psychology and Philosophy and is currently enrolled in an Executive MBA program at Smartly School of Business (a free online MBA school). The VP has spent the majority of her career working for reputable banks, such as HSBC, Credit Suisse, Deutsche Bank, Royal Bank of Scotland, and Standard Chartered Bank. Her highest position achieved was a Senior Portfolio/Project Manager at Standard Chartered Bank. Currently, Carolyn works with 2 clients – Energi, Encrypgen (VP, Operations) under her consulting company, Rencube Limited (Director), and her project management skills are of significant importance.
Team skills, Experience, and Structure
The team possesses professional experience in Cryptocurrency, Finance, Economics, Marketing, and Development. Energi combines strong practices from all relevant realms to build out a truly world-class and top-level team.
Advisors Background, Experience, and Community Feedback
There are three advisors, one of which is actively involved in the project on a daily basis. The other two advisors provide ongoing recommendations on the strategic direction of Energi’s marketing. The advisors have different levels of experience, come from different industry backgrounds and would be able to contribute their knowledge to the project.
Venture Capitals, Hedge Funds, and Other Investors
The CEO has provided the seed funding of the project, but the amount is undisclosed.
Listed on their website as their partners are: Coinexchange, CryptoBridge, Cryptopia, Coinomi, MNO, CoinMarketCap, Blockfolio signal, Gin Platform, Gentarium, NodeHost, CryptoHash Tank, Pickaxe.mn, Delta and Beam.works.
There is no information regarding the participation of market makers.
There are no lock-up periods.
Speed of Selling out the ICO
The project does not have an ICO.
They have made a few airdrop campaigns. Currently, the third round is underway. The team is distributing a total of 4 million coins to the community.
Hard Cap Amount
The project does not have an ICO.
Type of Blockchain Technology
At the moment, the platform is a blockchain with a masternode reward and governance system. The Energi blockchain will provide smart contract functionality and high transaction capacity with Energi 3.0, which is scheduled to be released in Q3 2019. At the end of 2019, they will begin on-boarding blockchain projects and dApps onto the Energi platform.
Coins Sold on Public Sale
The project does not have an ICO.
At the time of the analysis, the token price had increased substantially, and the community sentiment is also firmly positive.
Technology & Development
Product Development Progress
Energi has already released its mainnet, but there are features which are still being released.
Blockchain Technology Usage, and Innovation
The innovation in Energi comes from its economic model – the self-funding mechanism to fuel its growth in whatever direction it chooses to go.
Dependencies to Third Party Platform or Service
The project is not dependent on any third party. It has its own blockchain.
Blockchain Advantage, Effects on the Market
Again, the competitive edge comes from the economic model, not the technology for the time being. Regarding its blockchain – when Energi 3.0 releases in Q3, Energi will be unique in combining smart contracts with a treasury system and governance, which is under development.
Decentralization of the System
The system is fully decentralized from a technical perspective. There was no ICO or premine ensuring fair distribution and plenty of opportunity for participation.
System Security Measures
Energi Defense and its investigative arm, the Energi Bureau of Investigations (EBI), serves to protect its user base from hackers, scammers, and other bad actors in the space. In time, industry ICOs will be able to access support for scam/hack incidents to provide a level of security for their own investors/community. Energi will work with law enforcement around the world, as well as cryptocurrency exchanges and other institutions, to protect its users.
We sincerely appreciate your support and understanding, we hope this information proves useful to all users and potential investors.
The KuCoin Team.