The Internet of Energy Network (IOEN) is a holochain-based initiative that aims to revolutionize how energy is utilized across the globe by beginning with the simplest units: communities. One goal of the project is to encourage agents to grow from communities and create “virtual microgrids” that encourage energy efficiency.
The energy consumption trends of cryptocurrencies and blockchain technology are well-known. Some blockchains consume more energy than smaller nations. With many people excited about the future of blockchain and its broad adoption, growing energy consumption is a major issue. Holochain, on which IOEN is based, is one of the blockchains that are turning green.
An IDO route first, backed by a CDX Listing
The first DEX offering has become the most common approach for most projects to begin over time. IDOs provide increased liquidity, adaptability, and a lower entry hurdle.
These benefits appear to have attracted the attention of IOEN’s management since they debuted on two platforms in October, with a combined market valuation of 500,000 dollars across both platforms. The first listing took place on TrustSwap on 11th October, with the whitelist starting a few days early on 8th October. TrustPad, the second platform, also had a whitelist that went live on 11th October, with the real IDO following a few days later on 13th October.
On October 14th, IOEN was featured on the Gate.io market after these two IDO launches. The community is robust, proven by their presence on social media and investments from AU21 Capital, Insignius Capital, Skyman Ventures (Mashable), and SL2 Capital leading the whole fundraising round.
The tech behind IOEN is built on the foundation of RedGrid. RedGrid is focused on automating devices to use the least expensive and cleanest energy available at the moment, based on local grid networks. In Australia, it has already integrated IOEN into its existing technology. It now wants to expand on this foundational technology and motivate entrepreneurs to think about how they might use the IOEN microgrid interface in their towns, cities, and countries.