Frequently asked questions

V-LEC Franchise

1. What is the RED Platform?

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.

2. What is the RED V-LEC Franchise?

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.

3. What can I do with the RED V-LEC Franchise?

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.

4. How much money can I earn?

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:


+


30.00 ron / month

5. Who can apply for this business?

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.

6. How is the income tax counted?

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.

7. How do I collect commission from the franchise sales?

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

8. How much does the RED Franchise cost?

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.

9. How can I apply for a RED Franchise?

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.

10. What documents are required to apply for the RED Franchise?

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.

11. How does the RED Franchise work?

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.

12. How is the RED Franchise granted?

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.

13. Is the number of franchises limited?

Yes, the number of franchises that can be granted is limited in each country to a maximum of 1 franchise per 10,000 inhabitants. For example, in a country with a population of 10,000,000 inhabitants, a maximum of 1,000 franchises can be activated.

 

14. What are my obligations once the franchise is granted?

After the franchise activation, you will receive the NFT ERC-721 token called V-LEC that grants you the right to operate a franchise. As long as you have this token, the franchise rights benefits are activated. 

 

15. How long will the validation process take?

The validation process lasts up to 72 hours, and, regardless of the status, a response will be received on the email address registered in the platform.

16. What type of support do I receive to carry out the sales process?

Once the franchise is validated, you will receive access to several special offers for reselling energy services. Everything can be managed through the platform: taking over the offers, customizing them, and offering them to the end customers.

 

17. How the process unfolds once a customer is decided and wants to change the energy supplier through the franchise sale?

Once the sales process has been completed, the supplier who initiated the offer will take care of all the related administrative elements. The franchise operator will be able to focus strictly on the sales process.

 

RED for Suppliers

1. What are the benefits of Energy Suppliers on the RED Platform?

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!

2. What new functionalities can I offer to consumers through RED?

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 (Bitcoin, Ethereum, 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 manufacturers that certify the origin of 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 an ERC-20 token 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.

 

3. What are the consumer’s benefits inside the RED Platform?

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.

MWAT / Staking

1. What is MWAT?

MWAT is an ERC-20 digital token created by Restart Energy Democracy on the public network Ethereum in order to allow access to the functionalities of the RED Platform. The number of MWAT is limited to 500 million tokens.

2. What are MWAT specifications?

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

3. What are the benefits of MWAT staking?

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

4. Is a minimum MWAT value required to stake?

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

5. How can I purchase MWAT?

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

6. How can I deposit MWAT on the RED Platform?

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

7. Can I withdraw MWAT from the RED Platform?

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

8. How can I initiate an MWAT stake to obtain additional benefits?

Staking at this stage (V1) of the application will be available exclusively for obtaining rights for owning a franchise, owning REO-G and GTK.

 

9. Which are the staking rules for the RED Platform?

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.

10. How can I sell my MWAT?

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

11. What is the RED Exchange?

The RED Platform has an internal exchange that allows the transaction of MWAT, REO-G and GTK. The transaction pairs available are MWAT/REO-G, MWAT/GTK, MWAT/BTC and MWAT/ETH.

REO-G for Producers

1. What is a REO-G?

A REO-G is a non-fungible ERC-721 token issued on the public Ethereum blockchain that certifies the origin of energy produced from renewable sources. Each REO-G has a unique identifier and contains the details provided in the European RES Directive (2009/28/EC) on guarantees of origin. Producers can obtain on the RED Platform 1 REO-G for every 1 MWh of Green Energy produced. A REO-G can be used only once by companies to reduce their carbon footprint.

 

2. What are the features of the REO-G token?

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 represents a Green Certificate of Origin and 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.

f) It can be traded on the RED Exchange.

g) Can be withdrawn and kept in a personal ETH wallet.

3. What can I do with REO-G?

Once you have received REO-G, you can hold or sell on the RED Exchange for MWAT or Ethereum to companies or individuals who want to use it to reduce their carbon footprint.

4. What is the value of a REO-G?

The value of a REO-G is directly related to demand and supply on the RED Exchange.

 

5. Who needs to buy REO-G?

Companies or individuals who want to obtain a Green Sustainability Certificate that proves the offset of their carbon footprint will acquire REO-G tokens for this purpose.

 

6. What is a Green Certificate?

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).

7. How can I get REO-G?

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.

8. Who can request for REO-G to be issued?

The mint of REO-G can only be requested by renewable energy producers, based on the historical production not older than 12 months.

 

9. What happens when a Producer registers a REO-G mint request?

A third party with knowledge regarding renewable energy and has the role of RED Validator verifies the accuracy of the request and approves or denies the REO-G mint.

 

10. Which is the lifetime of a REO-G token?

Similar to the Guarantees of Origin, REO-G tokens have a specific expiration date. All REO-G tokens owned by users expire and are burnt from the accounts on January 31st of each year at 23:59h, independently of the issuance date. You need to make sure that you use them for a Green Sustainability Certificate or you sell them to other interested parties before that date.

 

11. How is the Green Certificate issued?

REO-G can be used only once to obtain a Green Certificate of Sustainability on the RED Platform, and the action of issuing the certificate will lead to the disappearance of the REO-G token from the electronic wallet. The Sustainability Certificate will be issued in PDF format. It contains a blockchain serial number where the offset action can be verified.

 

12. I am a Producer – how can I register on the RED Platform?

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

13. What documents are required to register as a Producer?

In order to register as a Producer, 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.

14. What advantages do I have if I register as a Producer on the RED Platform?

As a producer registered on the platform, you can request the minting of REO-G tokens (Green Certificates of Origin), 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

Carbon Footprint Calculation

1. How can an individual or a company calculate their carbon footprint?

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.

2. As a franchisee, how can I use the corporate carbon footprint calculator?

A franchise can help its customers to calculate their carbon emissions and offer them offset solutions through the sustainable projects listed on the RED Platform. You will receive free access to the corporate carbon footprint calculator once you acquire a franchise.

 

3. From where can I access the corporate carbon calculator tool?

You can access this tool from the left menu, clicking on the corporate carbon footprint section. The other option is clicking on the My Business section (left menu), then pressing on the corporate carbon footprint calculator button and clicking on the Create new calculation button.

 

4. Where can I find more information about using the corporate carbon calculator tool?

In the left corner of the page dedicated to the corporate carbon calculator, you have a button named Information Tool. Click on it and a new page will open containing all the important information needed for using our tool.

 

5. Is the downloadable template mandatory for completing?

Yes, it is mandatory, because in that template you provide us with important data about the emissions of the company you want to make the carbon footprint calculations.

 

6. What represents the template that I have to complete?

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).

7. Where can I upload documentation of the company I choose to make the emission report?

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.

8. Do I have the possibility to edit my emissions after I upload the initial template?

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.

9. What is the cost of using the corporate carbon footprint calculator?

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

10. Why should I choose to use your corporate footprint calculator?

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.

Carbon Offset

1. What is a carbon offset?

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

2. How can I offset my carbon emissions?

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.

3. How can I buy carbon credits from the RED Platform?

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.

4. After offsetting my Carbon Footprint where can I find my Sustainability Certificate?

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

1. What kind of sustainable projects can be brought to the RED Platform?

There are two types of projects that can be onboarded on the platform: certified with an international standard, or without certification that will receive a RED Standard Certification.

2. Who can add sustainable projects to the platform?

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

3. What is a project developer?

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.

4. What documents do I need for onboarding sustainability projects?

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.

5. How can I find sustainable projects in my country or a certain area?

Click on Carbon Credits Marketplace from the left menu, where you have the option to search projects by country or city.

 

6. What is the payment method?

You can pay using the payment option selected by the chosen project. Fiat payment will be available in EUR, USD and RON. Crypto payment will be available in MWAT, BTC and ETH.

 

7. How much time does it take until my project is approved?

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.

8. Can I make changes to my project after submitting it in case I need some data modification?

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.

9. What happens after my project is approved?

You will receive the GTK claimed in your RED wallet, reserved for selling in the application and your project will automatically be listed on the RED Platform. After listing your tokenized carbon credits, users interested in offsetting their carbon footprint can purchase the credits directly or through RED franchises.

 

10. What are the fees for the project developers?

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.

11. What is a Carbon Offset Unit (COUs)?

A Carbon Offset Unit 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 gases (GHGs) that can be traded, sold, or retired.

RED Carbon Standard

1. What is the RED Carbon Standard?

RED Carbon Standard is a special certification that sustainable projects can get from the RED Platform, 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.

2. Who can apply for a RED Carbon Standard?

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

3. How much time does it take to obtain a RED Standard Certification?

The estimated time from request until getting the certification is about 5 weeks if all documents are prepared and delivered in due time.

4. Why should I choose the RED Carbon Standard?

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

Green Sustainability Certificate

1. What is a Green Sustainability Certificate?

Each Green Sustainability Certificate will contain information regarding the name of the person or company who offsets the CO2 footprint, number of 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.

2. How can I obtain a Green Sustainability Certificate?

To obtain a Green Sustainability 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 producer.

3. How much does a Green Sustainability Certificate cost?

RED does not charge cash fees for issuing green certificates for companies. In order to cover the costs of validating and registering the information on the blockchain, a small fee in MWAT is required.

4. Who can request a Green Sustainability Certificate?

Any participant with an account on the RED app can request a Green Sustainability Certificate based on the number of REO-G or GTK held in their wallet.

5. What can I do with a Green Certificate of Sustainability?

A digital sustainability 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.

RED Consumer

1. Can I switch suppliers on the RED Platform?

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.

2. What documents are required to change the actual supplier?

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 attesting the company’s legal representation.

3. Does changing the current energy supplier involve any cost on my part as a consumer?

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

4. How long does the supplier change process last?

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.

5. Will there be any interruption in the energy supply in the process of changing the supplier?

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.

6. Can I be fined by the current supplier as a result of the termination of the contract with him?

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.

7. What happens if the new supplier increases the prices?

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.

GTK for CO2 avoidance

1. What is a GTK?

A GTK or Green Token is an ERC-20 token 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). 

2. What is the difference between REO-G and GTK?

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

GTK is an ERC-20 token 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)

3. What can I do with GTK?

Once you have received GTK, you can keep it or sell it on the RED Exchange for MWAT or Ethereum to companies or individuals who want to use it to reduce their carbon footprint.

 

4. What is the value of a GTK?

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

5. Who needs to buy GTK?

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.

6. How can I get GTK?

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.

7. Who can request the GTK mint?

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.

8. What happens when a Consumer registers a GTK mint request?

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.

9. How is a Green Sustainability Certificate issued?

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.

RED Validator

1. What is a RED Validator?

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.

2. What are the conditions for becoming a RED Validator?

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.

3. Is the activity of RED Validator paid?

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

4. For which territory can a validator operate?

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

5. Does the validator have to create an additional staking to get the role?

No, additional staking is not necessary.

6. What does the validator do?

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

7. What does the validator earn?

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.

Documents required for RED account registration / KYC

1. What type of documents are required to be accepted as a user of the platform?

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.

2. Do the requested documents have to be in the name of the person applying, or can I apply for someone else?

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

3. In the requested documentation, what data must I provide: the country where I live or the country where I hold nationality?

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.

4. How long does the validation process take?

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

5. How do I know if the set of documents sent is complete?

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.

6. I encounter difficulties in the process of sending the documents: I can’t find the city in the list generated after selecting the country of residence. How should I proceed?

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.

7. Are there countries that are not accepted on the platform?

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.

Afganistan

Mali

Angola

Morocco

Armenia

Mozambique

Azerbaijan

Myanmar/Burma

Burundi

Nicaragua

Cambodia

Nigeria

Canada

North Korea

Cape Verde

Pakistan

Central African Republic

Papua New Guinea

China

Senegal

Colombia

Sierra Leone

Congo

Somalia

Cuba

South Sudan

Djibouti

Sudan

Eritreea

Suriname

Ethiopia

Swaziland

Ghana

Syria

Guinea-Bissau

Tadjikistan

Guineea

Tanzania

Guyana

Timor-Leste

Irak

Uganda

Iran

USA

Ivory Coast

Vanuatu

Kenya

Venezuela

Laos

Yemen

Liban

Zambia

Liberia

Zimbabwe

Libia

8. A utility bill is required in the set of documents. How recent must the requested document be?

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

9. What type of ID document can I upload?

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.

10. My document ID doesn’t have my residence address on it. Do I have to upload additional documents?

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

1. What is Blockchain?

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.

2. Where can I access more information about Blockchain?

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

3. Where can I find resources and tutorials for Blockchain?

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

4. What is RED Blockchain?

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.

5. What is RED Explorer?

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

Support

1. How can I contact you?

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