Frequently asked questions

The RED Platform is a social energy platform designed to revolutionize the way each of us interacts with energy, the CO₂ offset systems and the incentivisation of renewable energy consumers and producers; RED offers everyone the possibility to participate in the first tokenized CO₂ offset platform, earn from energy through the only 100% digital Energy Selling and Consultancy Franchise on the market available in a 100% digital format.

The RED V-LEC Franchise is the first 100% digital Energy Selling Franchise using blockchain technology in the European Union, developed by Restart Energy.

The RED franchise is a web and mobile application that allows any individual and legal entity in the European Union to open a business in its virtual energy community and earn money from the sale and monthly consumption of electricity and natural gas with the help of friends and contacts. The V-LEC Franchise also allows gaining MWAT from consulting services in certifying the CO² footprint of individuals and companies and helping to avoid CO² emissions into the atmosphere.

The RED franchise is a web and mobile application that allows any individual and legal entity in the European Union to open a business in its virtual energy community and earn money from the sale and monthly consumption of electricity and natural gas with the help of friends and contacts. The V-LEC Franchise also allows gaining MWAT from consulting services in certifying the CO₂ footprint of individuals and companies and helping to avoid CO₂ emissions into the atmosphere.

It’s up to you. We offer all the support so you can convert your phone contacts and social networks into energy contracts that will bring you money every month. As a franchise, you will have this option exclusively when a supplier joins the RED Platform in your geographical region.

Enter below the number of contacts you have and check how much you could earn:

30 ron / month

Consumers – Individuals who want to develop their own business in the field of energy to obtain a passive source of income from the consumption of energy and gas from their network of friends and contacts.

Legal entities – Companies that have potential customers, both individuals and companies, and want a business or line of business in the field of energy sales without the risks and complexity of providing these services.

The income tax is 16% and is withheld at the source by RED, who will declare and pay it at the Romanian State Budget on behalf of individuals enrolled on the platform.

You will collect the commission in RON / Euro in your bank account for the intermediated energy/gas contracts.

RED franchises can be purchased with MWAT. The Country Franchise can be acquired for the price of 100,000 MWAT and through it franchisees can offer sustainability and energy supply services at the country level.

Applications for the RED Franchise can be made via the platform. Creating an account is a simple process that is subject to subsequent approval once the required documents are sent. Find the entire process inside the application.

To apply for a RED franchise, you need to upload a set of documents or data as follows:

• ID card
• a recent selfie with the ID card;
• bank details – bank name and bank account
• location details: country, region, city;
• name surname;
• franchise name.

If the franchise is managed by a company, the company’s data are required:

• name, registration number at the Trade Register;
• VAT number;
• copy of the registration certificate, and notarial power of attorney or copy of the deed of attestation proving the company’s legal representation.

The RED Franchise offers the right to grant commissions generated from the sale of 1 MWh of energy for every 1 MWAT staked during the time the franchise is operated.

The franchise can be granted at country level. For example, by initiating a 10,000 MWAT stake gives the franchisee the right to collect a commission for maximum consumption of 10,000 MWh/year, 10,000 energy clients, holding 10,000 REO-G and 10,000,000 GTK tokens.

To receive a higher commission, the franchisee must increase the amount of staked MWAT and, in the case that the consumption exceeds the MWAT requirement in the stake, there will be a request to upgrade the franchise to allow a higher number of consumers and a volume of increased commission.

Application for a RED Franchise is possible when owning the required amount of MWAT tokens. The franchise will allow you to obtain additional income through energy contracts.

To be granted the franchise you will need the amount of 100,000 MWAT, which offers the possibility of offering services at the country level.

Once the franchise is granted 50% of the cost of the franchise in MWAT, it is returned to the user as an active stake.

RED Energy Suppliers can access millions of potential new customers converted via many RED V-LEC virtual franchises around the world. You earn new clients at a small cost compared to typical fees paid to an energy broker. Enter the profitable market of micro volumes, household consumers, and SMEs!

RED uses advanced Blockchain and IoT technologies to provide vendors with functionalities unique in the market.

GTK free tokens – RED’s Green Tokens will be available for any consumer on the platform depending on their supplier’s power mix. Owning 1 GTK means 1T of CO₂ was avoided to be sent into the atmosphere.

RED Pay – The unique payment collection platform for suppliers that allows consumers to pay scheduled energy bills in both FIAT and digital currencies (MWAT).

Blockchain Transparency – Offer your consumers 100% transparency by recording the most important events from the interaction with them on Blockchain (issuing and paying invoices, consumption, notifications).

Carbon Footprint – Certifies on the blockchain the energy mix provided by the supplier, offering consumers the unique possibility to calculate their carbon footprint based on the energy they consume.

Carbon Footprint Calculator – a complete calculator of personal carbon footprint will be available for users on the platform. They will know how much carbon their daily actions generate and will be able to offset it by buying green tokens on the platform.

Demand – Response – View, incentivize and control in real-time consumer’s consumption curve from your portfolio (Service available only with RED IoT Sensors and Gateway).

Green Energy – customers will have access to suppliers who offer 100% green energy. By choosing this option, users will be reducing their carbon footprint even more.

REO-G Trading – Consumers can purchase REO-G digital tokens directly from prosumers that track the renewable energy on the Blockchain recordings. By doing so they will be able to offset their CO₂ footprint and upgrade their image as companies contributing to CO₂ offset.

GTK Trading – RED users – individuals and companies can purchase GTK digital tokens. A GTK or Green Token is a green attribute that tracks CO₂ avoided in the atmosphere through environmentally friendly actions such as renewable energy consumption, avoiding food waste, capturing CO₂ from the atmosphere, electromobility,  and other actions. RED grants GTK to consumers for the fraction of renewable energy consumed. A GTK can be used only once by users to reduce their carbon footprint by applying for a Green Certificate of Sustainability.

1 GTK = 1T of CO₂ avoided in the atmosphere (or equivalent other greenhouse gases such as CH4)

Green Certificates of Sustainability – With a digital Green Sustainability Certificate, you can prove on a public blockchain that you are a sustainable company that supports the production of renewable energy as well as the amount of CO₂ avoided in the atmosphere. Your business partners, customers, and suppliers will be delighted to work with a sustainable company and to check this information publicly at any time.

Consumers, in addition to the best price they benefit from, have at their disposal a digital platform where they can check at any time the details of the supply contract, energy consumption, access bills and payments made, quickly make payments for due bills and, if necessary, to discuss with the assigned account interlocutor.

Additionally, if consumers want to display the real-time consumption within the application, they can request the installation of a RED smart meter.

With the help of MWAT, you can access the following functionalities on the RED Platform:

• You can acquire a RED Franchise.

• Works like a virtual battery for REO-G storage (1 MWAT can store 1 REO-G or 1 GTK).

• It can be used as the currency for the acquisition of REO-G or GTK.

• It can be transferred to other users of the platform.

• It can be stored and withdrawn from a personal ETH wallet.

• It can be traded on the RED Exchange with other pairs of tokens.

• Allows obtaining a role of RED Validator.

• It acts as a virtual battery for the amount of energy that the consumers of a RED franchise can consume, having the ratio of 1 MWh / year for 1 MWAT owned by the RED Franchise

The address of the MWAT token can be found below: MWAT – ERC20 Token:

https://etherscan.io/address/0x6425c6be902d692ae2db752b3c268afadb099d3b

Through MWAT staking users can:

• obtain the right to operate a V-LEC Franchise
• obtain the right to supply energy on the RED Platform
• obtain the right to store REO-G and GTK
• pay for REO-G and GTK claims

No minimum MWAT value is required. The stake can be initiated with any available MWAT quantity.

MWAT can be purchased from the RED Platform or from external sources through the agreed exchange, when the coin will be relisted.

MWAT can be deposited in the RED Platform by accessing the My Wallets menu and following the steps.

MWAT can be withdrawn from the RED Platform through the My Wallets menu section.

When a franchise is acquired, 50% of its price is deposited in stake in the buyer’s account for a minimum period of 1 year.

Each staked MWAT on the RED Platform offers the right for users to store REO-G or GTK tokens (1 MWAT staked: 1 REO-G stored and 1 MWAT staked: 1 GTK stored).

MWAT also needs to be staked in a proportional ratio with the energy consumers brought by a franchise on the RED platform and their consumption: 1 MWAT staked: 1 consumer brought and 1 MWAT staked: 1 MWh of energy consumed by them per year.

MWAT tokens can be traded on the RED Platform exchange: Advanced exchange

For the moment, the only transaction pair available is MWAT/GTK.

The specifications of the REO-G ERC-721 token are:

a) It is generated by claims only by renewable energy producers.

b) 1 REO-G means that 1 MWh of renewable energy has been produced.

c) It can be stored in the wallet on the RED Platform according to the formula 1 MWAT staked allows the storage of 1 REO-G.

d) It can be sold by the Producers through the RED Platform Marketplace.

e) It can be transferred to other users on the RED Platform.

A Green Certificate of Sustainability is a way to demonstrate the degree of sustainability of companies by supporting green energy producers and consumers in a 100% transparent way on the blockchain developed by RED.

Each Green Certificate of Sustainability will contain information regarding the Entity, Carbon Footprint in tons CO₂/Year, Verified or Unverified, Date of Issue, REO-G and GTK amount and the amount of CO₂ avoided in tons CO₂, Carbon Neutrality percentage, as well as a Single Serial Number on the blockchain with the registration of the certificate that can be publicly verified on the Ethereum network.

The Green Sustainability Certificate is issued at the request of GTK or REO-G holders at the same time as burning the related GTK or REO-G from their wallet.

After issuing the certificate, the user can download the related PDF and also receive a download link where the file can be downloaded.

The certificate will be signed by RED.

Note: Verified or Unverified refers to the consultant verification (RED Franchise).

Register now on the RED Platform, or download the app for iOS or Android, and in a few minutes, you will be able to claim your REO-G based on your renewable energy production.

You can register on the RED Platform as a renewable energy prosumer by accessing the RED Platform, or downloading the app for iOS or Android and following the steps for creating a prosumer account.”

In order to register as a Prosumers, you need to upload a series of documents, as follows: company details (name, registration number at the Trade Register, VAT number), copy of registration certificate, and notarial power of attorney or copy of the deed of attestation certifying the company’s legal representation, the registered office address, a copy of the manufacturer’s license, a technical production certificate.

As a prosumers registered on the platform, you can request the minting of REO-G tokens, which certify the production of energy from renewable sources and can be sold to individuals or companies in order to transform them into Sustainability Certificates that prove the offset of their CO₂

An individual can calculate his carbon emissions using our free Carbon Footprint Calculator and answer a few simple questions about their daily activities and lifestyle.

Companies can receive their emissions report with the help of RED Franchises. Franchises will have access to a complex calculation of carbon footprint using the Corporate Carbon Footprint Calculator, completing details about the company and an excel with data about its emissions.

This report must contain specific information about the emissions of the company you want to make a carbon footprint calculation for.

In this excel you will find the emissions categorized by three scopes: Scope 1 – Direct Emissions (where you should report all conventional fuel sources, gases, and other emissions types like CO₂, CH₄, HFC, etc.), Scope 2 – Indirect Emissions (where you have to complete the energy category) and Scope 3 – Other Indirect Emissions (where you can complete categories like activities waste, business travel, personnel commuting, expenses for goods and services, emissions of employees working from home).

After you upload the completed template, on the Emission detail report page, at the end of it you have the Add new emission button, opening a new page where you can add a comment, a note or upload some documents related to this emission.

Yes, in the window Emission detail report you will be presented with a description of the three scopes and you have the Edit button available for each one. You can make recommendations for that scope category or edit the emissions list.

RED Franchises will have free access to use this calculation tool.

If you are a RED Franchise, then this corporate footprint calculator is available for your business and offers you the opportunity to attract other companies, present them with this tool, and make a profit from calculating their carbon footprint. Moreover, after calculating their carbon footprint you can also offer them an offset solution, which will be registered on our blockchain Zalmoxis.

On the other hand, if you are a company that tries to find an easy solution to find its own emissions, then our corporate carbon calculator is the perfect one. In exchange for a price that you will negotiate with the franchisee, you will receive a full report of your company’s carbon footprint.

A carbon offset represents the process of avoidance/ removal/ reduction of carbon dioxide or other greenhouse gases compensating for emissions produced elsewhere.

After you calculate your carbon footprint using our calculators, you can choose carbon credits certification from one or more sustainable projects, buy GTK or REO-G tokens and offset your emissions directly on our blockchain.

The process is very simple, just access Carbon Credits Marketplace from the menu and you can choose tokens from multiple options offered by Sustainable Projects, GTK Marketplace, and REO-G Marketplace.

You can access your Sustainability Certificate from your RED wallet, in the category named NFT Tokens – Sustainability Certificate. With a click on the Green Certificate number, you can visualize it. You have options for sharing on Social Media or getting a pdf format. Also, anyone can see it on our blockchain Zalmoxis.

Sustainable projects can be added by individuals and companies with a trader account or franchisees who own the project or have power of attorney.

The project developer is represented by any verified trader user or a franchise user who is interested in bringing sustainability projects on the platform and selling the tokenized carbon credits.

In case your project has an official carbon standard you must provide the following documents: project design documentation (PDD), emission reduction calculation, monitoring report, verification report, SDG report.

As the owner of the project or the project administrator, you must provide the required documents: company documents (registration certificate, project administration empowerment, ID card of the company owner or stakeholder), bank statement ( where the owner’s company name, address, and IBAN appear).

For the project documentation, we require print screens with the carbon credits registration series for the credits you would like to publish on the platform.

Also, for the project landing page section, you need to add relevant photos and videos of your project.

If the projects are already certified they are approved as soon as all the data and documents are verified and prove to be conformable with our criteria.

The projects which are not yet certified and require RED certification will take a little longer depending on the complexity of the project, the calculations, etc. We will notify the project developer during the whole process.

Yes, you can edit some details regarding your project. You have to access the menu Projects Administration and click the Edit button from your card project.

The project developers will not pay fees for listing the projects, as long as their projects are eligible projects (existing projects, certified by a standard authority by the issuance of COUs – Carbon Offset Unit).

The fees that are retained by RED represent a percent of the value of the transaction, as detailed here.

A Carbon Credit represents a transferable instrument certified by independent certification bodies that represent an emission reduction of one metric tonne of carbon dioxide, or an equivalent amount of other greenhouse gasses (GHGs) that can be traded, sold, or retired.

RED Carbon Standard is a special certification that sustainable projects can obtain, enabling them to receive tokenized carbon credits that allow traceability, transparency, and immutability. The tokenized carbon credits can be sold to users interested in offsetting their carbon footprint.

Any project that doesn’t have international recognition and meets RED Carbon Standard’s requirements can request the certification. More information about the requirements can be accessed in the RED Carbon Standard whitepaper

The estimated timeline for the certification process is described here.

The RED Carbon Standard offers you the certification you need for your project, in a simple and fast manner. The blockchain technology guarantees trust, transparency, and traceability. You will find even more advantages like easy access to the process, lower fees, and existing demand.

Each Carbon Offset Certificate will contain information regarding the name of the person or company who offsets the CO₂ footprint, the number of RED, REO-G and GTK used for it, as well as a Single Serial Number on the blockchain with the registration of the certificate that can be publicly verified on the Ethereum network.

To obtain a Carbon Offset Certificate you must own REO-G or GTK tokens in your wallet and use them to issue the certificate. Register now on the RED Platform, or download the app for iOS or Android, and in a few minutes, you will be able to have your first REO-G tokens as a green energy prosumer.

RED does not charge cash fees for issuing carbon offset certificates for companies. To cover the costs of validating and registering the information on the blockchain, a fee in MWAT is required.

Any participant with an account on the RED app can issue a Carbon Offset Certificate based on the number of RED, REO-G, or GTK held in their wallet. The offset certificate can also be issued by purchasing carbon credits directly from the public marketplace.

A digital carbon offset certificate proves on a public blockchain that an individual or a company is sustainable and supports the production of renewable energy, as well as the amount of CO₂ avoided in the atmosphere. Business partners, customers, and suppliers will be delighted to work with a sustainable company. The offset information will be permanently available for checking.

Any user of the platform can benefit from the energy tariffs on the platform and can request a supplier switch based on the suppliers registered on the RED Platform in their geographical area.

In order to change the actual supplier, it is necessary to upload a series of documents and data as follows: name, surname, address, copy of identity card, a selfie with the identity card, copy of a recent utility bill, and copy of property documents or power of attorney, as appropriate. If the consumer is a legal entity, the company’s data are required: name, registration number at the Trade Register, VAT number, copy of registration certificate, and notarial power of attorney or copy of the deed of attestation confirming the company’s legal representation.

The supplier change process does not involve any cost from the customer and is done fully online.

The whole process lasts between 21-45 days. Once the consumer approves the change agreement, the new supplier will be able to deal with the related administrative steps on his behalf.

No interruption will take place due to switching suppliers. There will be no change to the existing installation, so there is no reason for the supply to be interrupted.

The current supplier does not have the legal right to penalize a customer in the case of a switch. On the contrary, it is possible to offer a better price or conditions for your contract.

The new supplier cannot increase prices during the contract in the context of an agreed fixed supply price. Other increases that may occur (energy transport, energy distribution, green certificates, etc.) are directly controlled by ANRE (National Energy Regulatory Authority) and affect all consumers, regardless of the supplier with whom you signed the contract with.

A GTK is an ERC-20 green attribute that tracks CO₂ avoided in the atmosphere through environmentally friendly actions, such as renewable energy consumption, avoiding food waste, capturing CO₂ from the atmosphere, electromobility and other actions. RED grants GTK to consumers for a fraction of the renewable energy consumed. A GTK can be used only once by companies or individuals to reduce their carbon footprint.

1 GTK = 1T of CO₂ avoided in the atmosphere (or the equivalent of other greenhouse gases such as CH₄). 

REO-G is an ERC-721 green attribute that is granted to authorized renewable energy prosumers at a rate of 1 REO-G : 1 MWh produced.

GTK is an ERC-20 green attribute awarded to renewable energy consumers or to platform users that prove to have performed actions for the benefit of the environment that helped to avoid CO₂ in the atmosphere. It is granted at a rate of 1 GTK per 1T of CO₂ avoided into the atmosphere (or the equivalent of other greenhouse gases ex. CH₄)

The value of a GTK is given by demand and supply on the RED Exchange.

Companies or individuals wishing to obtain a Green Sustainability Certificate from RED to offset their carbon footprint will need to hold and send to RED a REO-G or GTK amount.

Register now on the RED Platform, or download the app for iOS or Android, and in a few minutes, you will be able to claim or buy GTK tokens.

The issuance of GTK can be requested by any RED user based on the documents that prove he has performed actions to avoid CO₂ release in the atmosphere.

For a GTK claim to be approved, it is sent to a RED Validator. RED Validators are RED Franchise owners who receive the right to process GTK claims after they have passed a special test. After analyzing the claim, the validator validates or rejects the claim based on the information and documents provided by the claimant.

GTK can be used only once to obtain a “Green Certificate of Sustainability” on RED, and the action of issuing the certificate will lead to the GTK token burn from the electronic wallet.

A Validator is a RED V-LEC franchisee that gains the right to verify and validate GTK and REO-G applications in the RED network after passing specific tests for each token validation process.

The validation right is granted to any RED V-LEC franchisee who has passed a test regarding renewable energy and validation processes with a minimum grade of 9/10.

Yes, each RED Validator will be compensated in MWAT for each performed validation.

A validator can operate on the same territory included in the rights for the RED V-LEC Franchise.

No, additional staking is not necessary.

The validator verifies and validates/invalidates the requests for REO-G and GTK from the RED network.

The validator earns a commission in MWAT for each processed claim. The minimum fee of a validator is 1 MWAT, and the maximum fee is equal to the number of MWAT staked.

You do not need any specific document to register an account on the RED Platform. If you desire to apply for the different roles on the RED Platform, such as Consumer Renewable Energy Producer or Prosumer, or to perform any transactions on the platform, there is a special set of documents needed. These documents are specified in the applications for each type of role.

The documents uploaded on the platform need to correspond to the name of the user account created on the RED Platform.

In the first part of the account creation process, you will need to provide the data referring to the native country. Documents related to your address will be solicited in further steps on the platform.

The validation process takes between 24 and 48 hours, depending on the number of existing applications.

Once the validation process is completed, you will receive a confirmation email that will inform you of the status of your application. If more documents are needed, a RED operator will contact you and give you the necessary information.

You can report the problem at any time by email to support@redplatform.com. All issues will be analyzed and solved as soon as possible, while you will remain informed about the solution.

Following current legislation, citizens from certain countries will not be able to create accounts on the platform or to make transactions. Citizens that come from one of the countries in the list below will be required to present additional documents to access the platform. It is possible that some of the users who come from one of these countries will not be able to create an account on the RED Platform.

In order to be considered a valid document, the utility bill must not exceed 3 months from the date of issue.

For the KYC process, you need to upload a personal ID document with a photograph and address. The address on your ID must match the one uploaded in the Proof of residence field. Your ID must be valid and not expire in the following three months.

In this situation, you must upload an extra proof of residence in the field Extra Documents. The extra proof of residence can be an invoice from a provider (different from the one you uploaded in the field named Proof of residence), a bank statement, a rental or mortgage contract, or public transportation document.

Blockchain is a decentralized public registry (database) on the Internet to which data can only be added and read but cannot be deleted or modified. This public register is composed of blocks in which multiple transactions are recorded. Growing linearly, each new block connecting to the previous one like a chain was called Blockchain.

You can access more information about blockchain here: https://asociatiablockchain.ro/.

You can find more tutorials and resources related to blockchain here: https://asociatiablockchain.ro/unelte-resurse/.

RED Blockchain is an internal blockchain where all the actions/transactions of users present on the platform are registered. The information is transparent, traceable, and verifiable at any time while maintaining the confidentiality of personal data also.

RED Explorer is a viewing interface where RED users can check transactions using Wallet ID/Hash ID.

To get in touch, you can send an email to support@redplatform.com. Please access details in our Contact Us section.