Token Issuing (mint process)

Smart Contracts

To understand the Due Dilligence process defined in the following chapter the different smart contracts deployed on the Ethereum Mainnet will be explained. There are two different smart contracts

  • CORI Smart Contract (Public Ethereum Adress: 0x725b190bc077ffde17cf549aa8ba25e298550b18)
  • Profit Sharing Contract (Public Ethereum Adress: 0xa050b90B0C60900E304774Eb39220dFB2C5fFf0F)

As the content and work mechanism of those smart contracts is rather difficult to grasp for non-developers an anlogie to FIAT currency will be used. Much like central banks define the framework of what is understand by the term "money" (e.g. by defining what bills are to be printed and the way of how FIAT money is created) the CORI Smart Contract defines who the total

As already described in chapter 3 above new tokens get issued to legal contract owner as soon as a profit sharing contract exists. By publishing those contracts STROMDAO ensures that issued tokens are backed with existing profit sharing agreements (=proof of existence of legal contracts). As the customer base growns and new assets are to be bought a due diligence process is performed by STROMDAO to ensure that its delivery obligations (profit sharing) can be fulfilled on a stable base.

Issue process of CORI Tokens

New tokens get issued to legal contract owner as soon as a profit sharing contract exists. By publishing those contracts STROMDAO ensures that issued tokens are backed with existing profit sharing agreements (=proof of existence of legal contracts).

Due Dilligence by STROMDAO (extract)
  • Minium 4 years term
  • Caped 2000 Tokens per 1€ monthly profit share
  • Only renewable energy sources are accepted
  • Risk mitigation plan enforced
  • Electricity grid connection and operation procedure documented and in operation.

If asset is accepted STROMDAO issues new tokens to asset owner.

STROMDAO Ethereum Address: 0x9707f3c9ca3c554a6e6d31b71a3c03d7017063f4
Smart Contract Implementation
Smart Contract function for token issue

Redemption and profit sharing policy

Shareholders within a valid STROMDAO tariff receive shared profit automatically (aprox. 2000 Tokens required for a monthly reduction of 1€, based on actually generation in payment cycle).

All token holders have the freedom to share, trade, sell and buy Corrently Invest Tokens (CORI) at any time.

  • Customers could reduce their bills further by buying additional tokens from the market.
  • Operators/physical asset owners (party that shares profit) could buy back obligations they sold.

Clearing is done monthly within the consens of a single block in Ethereum public blockchain (aka: Homestead). STROMDAO is entitled by its customers (electricity consumers) to collect debits from property owners and deduct customer electricity bills.