CoreStarter New IDO: Enrex
The next IDO to take place on CoreStarter will be Enrex. Enrex is the DeFi gateway to the multi-billion dollar carbon allowances and renewable energy certificate market. Carbon offsets and renewable energy are hot topics when it comes to blockchain due to the high emissions and carbon footprint generated. Governments and regulatory bodies are cracking down harder daily, and Enrex is here with a solution that will help make blockchain green again, while also allowing you to earn from it. Let’s not forget that companies like Tesla make Billions of dollars from selling regulatory credits they generate.
$ENRX allows you to invest in a growing market by allowing you to buy, sell and use government mandated renewable energy certificates and CO2 allowances. First we will explain the different applications of Enrex.
This will be the first CO2 allowance and renewable energy certificate exchange on Solana. This will be for traders, trading houses, companies, power plants and brokers. Through a number of partners and services, Enrex is a one-stop-shop for environmental DeFi. The CO2 allowances and renewable certificates will be tokenised and issued based on type, location and validity. They can all be traced to their real world certificate counterparts. All trades take place with $ENRX and fees will be collected in $ENRX (more on tokenomics below)
Enrex Dex v2
This will be a fully automated DEX for issuing, trading and tokenising the certificates for all trading houses and power plants without intermediaries. In the future prosumers (produce and consume) will be able to produce the certificates, then have an option to swap to $ENRX hassle-free.
Offset directly using $ENRX in any of the following operations, based on the choice of certificate between CO2 allowances OR renewable energy certificates.
- Crypto Transactions
- Smart Contracts
The Enrex dApp will allow you to offset certificates by entering comments to provide cancellation amounts and objects. The dApp will perform the request in real world registries and issue an NFT as a proof of cancellation. All Cancellations are tracked on blockchain and real world registries. This is a further step in the proof-of-history $ENRX ecosystem.
Users can track all offsets on-chain, it will be available to be accessed and checked by anyone within the Enrex Ecosystem. Links with proof of cancellation on the OG registry with a link to the NFT will be shown. Traceability is a prime requirement and tracking will not fall behind with the Enrex structure.
The API will enable decentralised and real world applications to unlock mandatory CO2 allowances and renewable energy certificates without intermediaries. An accessible API provides a user experience with the least barriers possible. This will also ensure sufficient liquidity is available while maintaining it.
Vesting: 25% TGE, 25% monthly
Initial market cap: $1,361,500
The token has plenty of utility, including burning mechanisms that we will explain below.
As explained $ENRX will be used for all transactions on the exchange, fees will also be collected in $ENRX. Of those fees 60% will go to staking rewards, 25% will be burned, and 15% goes to the Enrex Treasury. Estimated burn is 45% of supply, once this is reached 75% of fees go to staking and 25% to the $ENRX treasury. Fees are collected weekly and equate to 0.1% of transactions. Direct offsetting fees are paid with the $ENRX token.
Enrex aligns perfectly with CoreStarters vision of supporting projects that provide a real use case, while helping evolve the space and create a better future using blockchain technology. Environmental concern and ethical investing are taking over traditional markets, and with Enrex we are seeing the first strong contender that could not only prove to be a solid investment, but address the many issues we see with regulatory crackdowns. $ENRX has plenty of utility, a great burning mechanism and a strong list of backers, you can check out their twitter, telegram Medium, Discord and website for more information.
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