Happy Spring, dear MWAT token-holders!

There is an old Romanian tradition to celebrate the coming of Spring by wearing red and white ribbons and to give snowdrop flowers to the precious ladies in our life.

But we want to celebrate the starting of the spring with something we are certain you will appreciate more than flowers — important updates on the development of the RED platform!

MWAT Staking system

Perhaps the most important update is the changes we made in our staking system. We had a lot of constructive feedback from the community so we decided to alter our initial view on the staking mechanism while keeping all the promises we made in the white paper. On this occasion, we want to thank our dedicated community members for their time and effort put in helping us design the best possible staking mechanism.

In a nutshell, the new staking system looks like this:

If: E is the size of the ECF P is the ratio between your staked MWAT and the total number of MWATs staked R is the reward in KWT that is received from staking MWAT. DR is the amount of the reward that is unlocked daily KWTL is the remaining locked KWT ( E, P, R, DR) are computed at the moment of the staking or the unlocking action R is computed in this manner: R = P x E

Just as with a normal battery, you will not be able to consume all the energy in an instant. The KWT will be in your wallet, but you will not be able to use them all at once. From the total staking reward, the user will be able to manually unlock (on a daily basis) the same percentage P of the remaining locked KWT (KWTL).

Thus making the daily reward DR computed as follows:

DR = KWTL x P

At the same time, to support the continuous growth of the ECF, 5% of DR will go back to the ECF and you will receive 95%.

A more detailed description of the updated mechanism you can find in our in-depth article about MWAT staking.

We also intend to test the staking mechanism in a beta-staking period, in March, to ensure that everything works smoothly.

Security standards and auditing

We have tightened our security standards by adding a 3FA, which brings the security of our app a class above most of the existing solutions in the market.

We’re also investigating and already started the process of smart contracts security testing and different kind of audits to ensure the security of our funds.

Smart Meters

We had an unfortunate delay due to our external collaborators that provide pieces for our smart metering technology. Nonetheless, progress has been steadily made in this direction as well, leading to an accelerated onboarding rate for large consumers.

We already started receiving data from some of the consumers!

Simple shapeshift mechanism

We added a simple shapeshifting option between tokens for those that are not that tech savvy.

Increased interest for our technology

Restart Energy has been chosen as a last resort provider in Romania and we are in advanced talks with the Romanian Authorities to promote our blockchain solution for the integration of prosumers on the grid.

Updating the consumption point mechanics

We began working on the production/consumption points management procedures inside our RED app.

GTK

We also decided to implement the green token generation inside RED as a reward for those who consume green energy.

As you all know, the RED platform, though in beta, is available on iOS, Android, and web for now.

And as a teaser, we could add that we are working on two breakthrough partnerships with major companies, but unfortunately, we cannot disclose further details for now.

Stay tuned!

And may you have a wonderful spring!

About Restart Energy

Restart Energy Democracy (RED) is a blockchain-powered platform, backed by Restart Energy — a European energy provider with 20 million USD in revenues. The company was built with a vision to democratize the energy sector and quash the dominance of legacy monopolies in the energy world. The company’s credentials include a customer base of 27,000 household and 3,000 corporate clients, expanding at more than 2,000 clients per month (5,000 new customers in the first two months of 2018), and its impressive growth: 1,700% from 2015 until today.

Restart Energy is developing the world’s first peer-to-peer, fully decentralized energy transfer platform allowing users to send and receive energy worldwide, based on its proprietary virtual balancing system, that uses A.I., Big Data, and IoT technologies. The RED ecosystem is comprised of the RED-Platform, RED-Franchise, and MWAT Tokens.

The RED-Franchise is the first power retail franchise to simplify and allow any company or entrepreneur to operate their own power utility enterprise, enabling them to start selling energy in more than 35 deregulated energy markets globally.

MWAT tokens are crypto-tokens that enable the buying and selling of up to 1 MWh of electricity per month on the RED-Platform Software and will facilitate the development of affordable clean energy, through free-market practices. Upon completion of registration on the platform, an initial loyalty bonus of 0.11 kWh is applied. Producers send out monthly loyalty bonuses through the Energy Community Fund, totalling 5% of traded on-grid energy in exchange for access to the RED Platform.

Importantly, it should be noted that potential franchise partners will need to own (this is not a form of payment to us) a certain number of MWAT tokens, in order to qualify for our various franchise tiers — the secret to our award-winning growth as a business!

For more information, please visit our website, our Telegram, and read the Restart Energy whitepaper. Join our announcement channel for updates regarding Restart Energy Democracy.

We invite you to join our RED Platform’s beta and earn 50 MWAT for joining now; refer your friends for even more rewards.