It is OK if you didn't know Energy Web exists because it is one of those under-the-radar projects that you need to dig up somewhere. It may sound just like one more "green" crypto cash-grab but the project has been around for quite a while now. If you take a look at their list of partners you will find companies like Volkswagen, Shell, Vodafone, and many other familiar names. Probably worth a bit more digging, eh?
While other chains are racing to deploy as many protocols as they can, Energy Web still remains silent with very few projects running on their network. CarbonSwap is one of those protocols and it is the only market maker currently present on EW so it may be worth looking into.
How?
From the dropdown menu on Metamask select the "Custom RPC" option and enetr the following parameters.
Network Name: Energy Web
RPC URL: https://rpc.energyweb.org/
ChainID: 246
Symbol: EWT
Block Explorer: https://explorer.energyweb.org/
Transactions on Energy Web are virtually free but you will still need a bit of EWT to use the network. The simplest way for me personally is to create a free KuCoin account and purchase EWT there. Withdrawals directly to the Energy Web chain are enabled and have zero fees. By far the cheapest way to get your funds over to EW.
Bridging funds is also an option and you can do so from the Ethereum mainnet or BSC using this bridge.
Why?
As I already mentioned, Energy Web is working with some top-notch corporations to create a decentralized global marketplace for energy trading. Once more countries start going green and individuals like you and me become able to produce more energy than we can spend (via solar and other sources) we will need a market to sell it. Currently, Energy Web is the only project working on that solution so competition is non-existent.
With all those big names on the list, it is hard to expect the Energy Web chain failing to bring in a lot more liquidity in the coming months and years. Since CarbonSwap is the only MM on the network right now it has a first-mover advantage along with a dedicated team of developers that are constantly upgrading the exchange.
I will not go into more details but all docs can be found here for those that are curious.
Currently, liquidity providers can farm SUSU, a governance token for CarbonSwap. SUSU can further be staked to capture a fraction of all trading fees on the exchange. The max supply of SUSU is 300M and it is currently trading at about $0.10 per token giving CarbonSwap a fully diluted market cap of only ~30M.
Upcoming developments include a lending platform and an NFT marketplace with both of these scheduled for release in Q3 and Q4 2021. Social media activity is always booming and the Telegram channel has gathered a bit over 3k members so far.
Investing Strategy
Accumulation is the only goal with this one because farming is far from profitable right now. There is no clear APY calculated on the website but based on rough estimates, the highest paying farm has an APY of about 70%.
Rather than going in for quick profits consider a slow and steady accumulation approach for both SUSU and EWT. Both tokens have a capped supply and a very clear use case in the near future. EWT getting a fraction of ETH growth would mean an insane boost in price and liquidity on the network. If you ever wondered how one can become an early investor, it doesn't get better than this.
Jerry Rating 8/10
Although I believe CarbonSwap is already "too big to fail" it does depend on the success of Energy Web. It is highly recommended that you do your own research on this one and decide for yourself. I just wouldn't want you to miss out on potentially massive plays in the energy sector.
Long-term gains require storng long-term plays.