There's just 3 days left to purchase tokens from the Envion ICO, after already selling over $60 million worth of tokens it looks set to be the biggest token sale of the month.
What is Envion?
https://www.envion.org/en/
They're hoping to solve some of the problems with cryptocurrency mining by creating a new decentralized solution that uses green energy.
They're planning to build new 'Mobile Mining Units' inside shipping containers that can easily be transported to areas that have the cheapest form of renewable energy available, such as hydro or solar power plants around the world.
Their new MMU units will allow them to combine 2 of the fastest growing markets together, the cryptocurrency mining and renewable energy sectors.
The new project will be decentralized with token holders able to vote on important decisions through the platform.
The company plans to mine with ASIC and GPU miners at a 50/50 split.
Problems with the mining market
Despite one of the major selling points of cryptocurrency being that it's decentralized, cryptocurrency mining has become highly centralized, some of the biggest mining facilities dominate the market. This has meant that key decisions within certain cryptocurrencies such as hard forks can be decided by just a few people.
The other major issue is the energy consumption, as the price of cryptocurrencies has exploded in the last 12 months so has the cost of mining, the amount of energy being used to mine has become obscene and the amount of energy used to send just a single transaction on the Bitcoin network has now reached 100s of kws.
How Envion aims to solve these problems
They state in their whitepaper that they believe cryptocurrency mining should be decentralized. By using their own token on the new platform they hope to do this by distributing 100% of profits to token holders and involving token holders in any key decisions.
With their new MMU units they also plan to have a cost efficient mining solution. By building these in 20 foot shipping containers they'll be able to station them anywhere in the world that cheap energy is available. They'll be using a database which will allow them to find the cheapest possible renewable energy prices around the world.
Profit for token holders
Envion will be distributing 100% of the profits that they make to token holders. 25% of this sum will be used to further expand their operations by reinvesting into more hardware. The remaining 75% will be distributed to token holders weekly.
In their whitepaper they've stated that the ROI should be 181%.
Envion Key team members
- Matthias Woestmann: He's been an investor in renewable energy for over a decade. He financed SOLON AG, which then went on to become one of the leading module producers in Germany.
- Jasper Hellmann: Experience running multiple eCommerce companies. In 2016 he founded an eCommerce company and produced 30 million euros of revenue in just 12 months.
- Felix Krusenbaum: An IT professional with 6 years experience working as a strategy consultant for A.T. Kearney.
ICO Details
The EVN token will run on the Ethereum network.
Token sale runs from December 15 until January 14.
Total tokens for sale: 150 million.
Token price: $1.
Conclusion
The cryptocurrency mining market has obvious problems if it's going to keep growing. The amount of electricity being used by proof of work based tokens has become obscene, with many news agencies recently reporting about it.
Envion looks well poised to help solve this problem. The team behind the project has a lot of experience in green energy based businesses and experience running many successful companies.
The profits being distributed to token holders will provide an obvious incentive for people to hold on to the tokens and should see the token price rise.
Website: https://www.envion.org/en/
Whitepaper: https://www.envion.org/en/download/envion_whitepaper.pdf