Summary
GreenYield - the member-owned and governed renewables platform that aims to democratise access to renewables infrastructures for everyone interested in contributing to the green energy transition. To achieve this objective, GreenYield will launch three tokens with distinctly different properties and utility as explained here:
$GreenYield - is the utility token of the decentralised member-owned GreenYield DAO. It is used to encourage participation in the GreenYield ecosystem.
$GYMember - is the tokenised equity of the DAO LLC for its members.
$GYWatt - is a way for participants to have a (3rd party audited) representation of the infrastructure capacity installed.
Key Features of the GreenYield DAO tokens
Governance and Utility
GreenYield DAO participation is encouraged, and everyone can participate in shaping the future of the GreenYield ecosystem. This will encourage participation in the member-managed DAOs activities where Special Interest Groups can be established, and members can contribute to the DAOs objectives – to democratise the global access to green infrastructure and offset impact, independent on one’s own ability to host any renewable infrastructure. Funds raised by the $GreenYield tokens will be directed to acquiring and operating renewable infrastructure - initially as stated in the GreenYield DAO charter as Solar Parks. All profits from the GreenYield ecosystem will be reinvested in more capacity, creating an auto-compounding value the DAO for the members.
Membership
While the $GreenYield tokens are not securities and do not pay yield to holders and don't represent any equity stake in the GreenYield DAO LLC, they may be locked by holders who wish to claim their equivalent DAO membership in the GreenYield DAO LLC – represented by $GYMember tokens, providing access to voting rights and other members only opportunities. The $GYMember tokens will require holders to provide the necessary information to be accepted as eligible token holders and DAO LLC equity members. so while the utility token $GreenYield will be freely transferrable (within permitted locations as stated in the DAO and token charters), the $GYMember Tokens will not be freely transferrable as new holders must first be approved and have their wallets whitelisted as they represent equity ownership in the GreenYield DAO LLC.
Capacity
The GreenYield ecosystem will represent the nominally installed Wp capacity 1:1 with the $GYWatt tokens to provide a simple way for the ecosystem to prove the capacity of the infrastructure in an auditable way. These tokens will initially not be traded or shared outside the ecosystem, but will represent a right to a share of the profits, less opex and reinvested capital, of the KWhs sold to the energy network. They'll be held by the owner entity of the energy infrastructure, and the corresponding profits will be distributed as defined by the GY DAO.
Non-Security
$GreenYield is a utility token and not a financial security. It is designed to facilitate participation in the GreenYield ecosystem and does not directly represent an investment in any underlying assets or enterprises and does not pay a yield. For those interested in it, $GreenYield tokens may be locked to claim the corresponding $GYMember tokens, which represent direct equity ownership in the DAO LLC.
Supply and Distribution
The total supply of $GreenYield tokens at the TGE is 100b. The tokens will be vesting as follows:
5% - Liquidity provision, marketing, listings and SIGs
75% - Ecosystem Fund for fundraising, and participation incentives.
20% - GreenYield Foundation
§GY tokens held by the DAO will be locked in a vesting contract and released against paying of capital (in selected stable and other coins). As a safety measure, the GY Foundation allocation will also be locked and will vest at a ratio parallel to the $GY tokens.
2. Token Distribution
$GreenYield tokens from the DAO free treasury may be distributed through various mechanisms, including the following.
Private and Public Sales
The DAO will launch private and public sales of the $GreenYield tokens to attract liquidity to the installation of renewables infrastructure.
Participation
Providers of Liquidity to the DAO and holders of $GYMember may be rewarded for participating in the ecosystem via staking rewards, based on governance decisions taking into account the performance achieved and a ratio between expanding the capacity and paying dividends. To attract liquidity, the DAO may offer staking of stable-coins in time-locked contracts and pay rewards for this leased liquidity in $GreenYield.
Listing and liquidity
The DAO will seek to expand the TVL of $GreenYield via liquidity provisioning on relevant marketplaces and seeking exchange listings where it's deemed relevant.
It’s important to keep in mind that the aim of the DAOs utility token, the $GreenYield is to encourage participation in the GreenYield ecosystem and allow holders to contribute to the expansion of the renewables infrastructure – while keeping the $GreenYield freely transferrable while maintaining the required compliance for a DAO utility token.
The DAO will offer $GreenYield tokens in its initial token sales rounds aiming to immediately decentralise the DAO as much as possible.
3. Technical specification
Tech aspects of $GreenYield – Initially build on the EVM L2 rollup Polygon – but immediately after TGE, seeking a multi-chain presence, and later an app-based wallet presence.
3.1 Initial Deployment on Polygon
The $GreenYield token is an ERC-20-compliant fungible token initially deployed on the Polygon blockchain. Polygon is an Ethereum Layer 2 (L2) scaling solution that offers several advantages:
Lower Transaction Fees
Compared to Ethereum's mainnet, Polygon significantly reduces transaction fees, making it more cost-effective for users to interact with the GreenYield DAO.
Faster Transaction Speeds
Polygon provides faster transaction speeds, enabling quicker and more efficient participation in DAO governance and other on-chain activities.
Ethereum Compatibility
Polygon is fully compatible with the Ethereum Virtual Machine (EVM), ensuring that the $GreenYield token can leverage the existing Ethereum ecosystem of tools, wallets, and decentralised applications (dApps).
3.2 Future Interoperability with LayerZero
While initially deployed on Polygon, the GreenYield DAO aims to achieve chain independence in the future by integrating with LayerZero. LayerZero is an omnichain interoperability protocol that enables seamless communication and interaction between different blockchains. Integrating LayerZero will offer several benefits, including these:
Cross-Chain Accessibility
Users will be able to hold and use $GreenYield tokens on various blockchains, increasing accessibility and participation in the GreenYield DAO.
Enhanced Liquidity
The $GreenYield token will have access to liquidity across multiple chains, improving market efficiency and reducing the risk of fragmentation.
Future-Proofing
The GreenYield DAO will be able to adapt to the evolving blockchain landscape and integrate with new and emerging chains as needed.
3.3 Technical Specifications of the tokens
Token Standard: ERC-20
Initial Blockchain: Polygon
Interoperability Solution: LayerZero
Token Symbol: $GreenYield / $GY, $GYMember / $GYM, $GYWatt / $GYW
Token Decimals: 18
Minting at TGE:
$GreenYield: 100.000.000.000
$GYMember: Initially, 1 token held by GreenYield Foundation. From the time of $GreenYield TGE the contract will release $GYMember when $GreenYield is locked, thus creating a 1:1 relationship and an effective cap on $GYMember.
$GYWatt: Will be minted once per month in a 1:1 ratio with the nominally installed Wp capacity, and each will represent the right to the pro-rata share of the profit of the KWh sold to the market.
Burn: The tokens may be burned or locked in smart contracts to be removed from the circulating supply, corresponding to the related assets, this being related to the $GYWatt token.
4. Security Considerations
The token smart contracts will be based on OpenZeppelin default libraries and will undergo rigorous audits by a reputable third-party auditing service to ensure their integrity and resilience against potential vulnerabilities. The GreenYield DAO is committed to maintaining the highest security standards to protect the interests of its members and the integrity of the tokens. Auditor reports will be made available to DAO members.
5. Disclaimer
$GreenYield is a utility token and not a financial security. It is not intended to be used as aninvestment or speculative instrument. The value of $GreenYield may fluctuate based on marketconditions and the overall success of the GreenYield DAO. It should not be considered aninvestment asset, and holding the tokens by wallets owned or controlled by people or entities inthe OFARC countries and any other locations where such holdings would be considered inviolation of local regulation is forbidden and it’s the responsibility for anyone considering holdingthe tokens to familiarize themselves with their regulatory requirements and refraining fromholding the tokens if it would represent a violation of their local regulations.
GreenYield DAO LLC is member-governed and open for participation as defined in the DAO charter. Holding $GreenYield does not constitute any equity rights in the DAO LLC.
//GreenYield DAO LLC.