What is nad grid about?
NAD Grid is a Peer-to-Peer energy exchange platform backed by advanced blockchain technology.
The inspiration of the name NAD comes from “Nicotinamide Adenine Dinucleotide”, which is one of the two essential biological electron carriers in photosynthesis. We’d like to use NAD to symbolize purity, efficiency, and fairness.
How does nad grid work?
NAD Grid core system is two centralized services on top of a decentralized transaction platform. The decentralized p2p platform holds the users accounts and interfaces with the physical grid for monetary transactions and electricity transfers.
The two centralized services on top facilitates buyer and seller discovery. The NAD Exchange is a public free market where producers and consumers are efficiently matched through fair market price, and offers the advanced service "Selective Sourcing". The NAD OTC service facilitates private deals, where final agreement will be standardized.
Final order from either the NAD Exchange or the NAD OTC will be normalized into a smart contract that will be executed on the decentralized layer.
Friendly user interfaces will be provided for the two centralized services.
i AM A ROOFTOP SOLAR PANEL user. how will i benefit from using NAD GRID?
Currently, solar panel users are mainly energy savers than producers due to restriction on oversizing. The restriction on oversizing is due to utilities having to buy back surplus generation at retail price.
With NAD Grid, prosumers can sell their surplus through either the NAD Exchange or NAD OTC to one or more consumers. Solar panel users can potentially opt out of the Net Metering policy and be able to oversize the panels. Opting out of Net Metering means losing utilities as the fixed buyer that offers retail price, but since users now can install more panels and truly become an energy supplier they can make a bigger return overall by selling more total generation although per kWh the price may be cheaper.
Selling electricity on the NAD Exchange for solar panel users connect zero emission electricity to consumers with demand for it, as opposed to selling the surplus undifferentiated to utilities at retail price.
HOW DO I BECOME A USER OF nad gRID?
When NAD Grid expands into your area, to participate would simply be downloading the single UI for NAD Exchange and NAD OTC and creating an account.
Your future electric bill or profit will be accessed through the client UI.
WHAT IS Eden token AND HOW IT WORKS?
The Eden token gives access to the advanced sourcing service called "Selective Sourcing" that's available in NAD Exchange.
Each Eden allows 1 MWh(mega-watt-hour) of electricity to be sourced with Selective Sourcing.
Selective Sourcing is an advanced sourcing mechanism that allow the consumer to specify a carbon footprint threshold for the overall electricity that will be sourced.
HOW DO I PURCHASE eden?
Edens will be available first publicly through our ICO on Earth Day, 04/22/2018. Each Eden will represent 1 MWh of electricity with Selective Sourcing, and the price for it in USD on ICO first day will be $2.
Eden will be offered during ICO through Ethereum ERC20 smart contract. The exchange rate with ETH will be set on the ICO date to ensure initial price per token is $2.
HOW will future releases of EDENs happen?
A total of roughly 80% of Edens will be sold through private sales and ICO.
We expect Eden to be listed on an exchange within a year after the ICO.
We will be using a consortium blockchain that will track a ledger with credits equivalent to USD. Users will continue to pay or get paid in dollars.
Only access to Selective Sourcing service demand the cryptocurrency Eden.
What currency will be used as payment for actual electricity in the decentralized platform?
- No longer forced to take generation surplus
- No longer need to predict future demand since supply and demand will be matched in real time
- Physical nodes on the electric grid are intelligently connected by the exchange to ensure safer operations
- More granular data points to help smarter future investments
- Electricity produced from different sources with different method will be differentiated with carbon footprint grade
- Connected directly to multiple buyers instead of the single retailer which currently is the utilities
- More options that satisfy more granular preferences
- Easy way to gradually reduce emission
- Demand response service to save potentially millions of dollars for industrial/commercial consumers
- Cheaper electricity price due to producer competition
- More reliable power with multiple suppliers
- Solar companies
- Without oversize restriction, solar companies like SolarCity or SunRun can install more panels for buildings on every business
- US government
- A market with real demand for cleaner energy is a more sustainable way to promote renewable energy than current Net Metering policy
- The environment
- Services offered in NAD Grid promote cleaner energy production