Grayblock Power - Energy backed yield farms - Defi / DAO
Application type
We are looking for investment and to partner with Harmony ecosystem to expand our market reach and application of defi lending pools
Proposal overview
Grayblock power is the first decentralized finance governance protocol that provides clean energy backed yield farming. We sell project tokens, which are directly linked to specific clean energy projects in the real world (solar, wind, energy storage etc). The proceeds of the project token sale goes to a registered lender and that lender loans out to the energy project that needs financing (re-finance or construction capital). Interest plus principal is returned to the staking pool where defi lenders may stake their tokens. They earn a real stable token yield of 5% - 15% (depending on project). Defi lenders are provided full transparency on the payment through direct oracle feed of smart contract to smart meter (on the energy asset). We solve an ENORMOUS financing issue with energy projects of 50M USD or less and can offer projects from all around the world. Individuals will even be able to see their direct CO2 offset impact and earn yield. They can also sell the project token at any time possibly for a profit. GPN is our governance token which we use to due diligence and ensure good projects are listed on our platform before they are offered to defi lenders. GPN stakers and holders vote like a dao and benefit from a 3% fee from all cashflows distributed by the projects to the defi lenders. This ensures good projects are listed.
What stage of the product or idea are you (and your team) at?
We are preparing to launch our testnet and first energy project this September 2021 on binance smart chain. We would like to be crosschain compatitble and launch on multiple chains such as Harmony and other L2s which can support the transactions
Is it live on Harmony and/or another chain?
We are planning our first launch on Binance smart chain
How many active users do you currently have, or aim to acquire?
We have been building our telegram and twitter groups, we also need help spreading the word and in marketing to more active users. If 1 person can buy 1k worth of project tokens then we need 1,000 defi lenders to launch our first solar project in Vietnam 1MW (with 8 more offered afterwards based on demand)
How much funding do you need?
We are looking for 200,000 USD to increase our marketing and to prepare an integration and launch on harmony.
What are your milestones?
We would like to launch 50 MWs (50M TVL) of energy projects by year end. We plan to launch our governance protocol at end of year. We already have 1,000 MWs (1,000M TVL) of good energy projects ready to list across 5 continents, we are an award winning blockchain and have the support of the Alberta Government in Canada
What help do you need, or what gaps are there in your team?
We need good designers, marketers and talented developers (front end/back end and blockchain) for our future growth and product offerings
Proposal ask
We are looking for 200,000 USD but can accept up to 500,000 USD. We will be offering in exchange pre-sale of our governance token GPN
Metrics for success
We would like to list 50 MWs of clean energy projects which get funded by year end that pay out a stable yield of 7-15%. We already have these projects identified
External links
Whitepaper and pitch deck can be accessed via request. We have lite paper and info on our first project launch on website
@GrayblockPower - thanks for the detailed explanation of a really interesting proposition.
Questions:
How are the tokens sold contractually tie to the lender loans in the energy project which needs fiat financing?
What if the lender loans default, are there any recourse and how do you mirror valuation in the cryptoverse?
How do we audit the yield of the energy projects (if solar, start from the panels) to funnel the payments from those energy output from fiat to crypto?
How do you plan on managing a stable token, plus its yield of 5% - 15%?
why does it take $200K for marketing and integration to launch on Harmony? Why not $100K, or $1M? Looking for the breakdown here
the measurements for success is in MWs. I understand it’s not a traditional measurement of active users, but more of user acquisition and outreach will be important to figure out.
how can Harmony help? (Guidelines on Investments below)
– 50 Investments ($20M). Tokens of each investment are on-chain and semi-liquid. Harmony helps evaluate technical strengths, market potentials, and ecosystem alignment. We recommend $250K-$1M for each check at maximum $10M valuation, collaborate over events and campaigns, and rebalance portfolio quarterly to diversify.
Thanks for your questions and for the community to see the answers.
Initial Project Offering sale proceeds becomes the loan. Loan is received on a custodial wallet held by a lender. Our first lender is Mountview Capital (on our website). They then have a term sheet and legal agreement, including security and collateral from the project owner before loan is offered. So the loan is fully transparent and their is laws governing it
Default results in lender seizing the assets and taking collateral. This will then be liquidated or handled in appropriate manner to maximize defi lenders outcome
Payment is made by directly linking the smart meter (which records the electricity generated) to the staking yield pool. As sun shines - you will see you get paid (for solar). For wind you will be able to follow its actual generation profile by your payment
The token generates a yield for you, so you can sell it through our liquidity pool which we will set up for each pool. Its value is derived by the future dividends it can generate (DCF is common finance methodology to price it)
200k is a rough estimate. We would need to likely hire 1 developer and spend on marketing and additionally focus our team on the Harmony network. We think Harmony is an excellent fit actually, we may need more. Harmony is offering 250k - 1M for game changing leading industry projects - we are that. We could develop faster and really accelerate mass adoption with the amount Harmony is offering
Every 1 MW is approximately 1M TVL in traditional Defi lending pools. So we think 10,000 users would be adequate for our goals to achieve the launch of 10 - 50 MWs on Harmony within 3 months
We would be interested in check size of 250k, We could take more and be more focused on Harmony if you like us. We would be happy to discuss our innovative tech solutions that will be applied to real world applications to drive mass ecosystem and adoption in Harmony
Need more information about the team and their competency. For renewable energy funding there are regulations how would you deal with it ? Where is the project roadmap ? I curious to read more about the project. Thanks
We can provide detail on the project, the due diligence put in and the loan offered has collateral and security on the asset in case of default. We have 1-page teasers I could share if you DM me
We will not be able to move forward with this investment as Harmony does not take the lead on investments. We look forward to hearing the progress of Grayblock in the near future!
