Efforce is a blockchain-based energy-saving trading platform that aims to improve energy efficiency, providing environmental benefits and increased security.
WOZX is the platform's native token that complies with the ERC20 standards.
Check the Efforce current price, Efforce price chart, Efforce coin price statistics, market cap, total supply, max supply, circulating supply, 24h trading volume, etc., and get updates on WOZX USD price and WOZX price change in real-time on CoinStats, one of the best crypto platforms around.
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Scroll down for our detailed overview of the Efforce platform and the WOZX token!
What Is Efforce (WOZX)?
Efforce is a blockchain-based energy-saving trading platform that aims to enable users worldwide to participate and benefit from its energy efficiency projects. The platform brings together those who want to improve their companies' energy efficiency with contributors interested in investing in energy projects.
The Efforce platform uses smart contracts on the Ethereum blockchain to create agreements between contributors and the companies they're investing in. Efforce also uses Ethereum to create tokenized energy savings as securities. Investors (contributors) will be repaid in tokens representing the energy savings achieved thanks to efficiency improvement projects, and users will be rewarded with 1% of revenue generated from energy savings. The added incentives and rewards aim to bring more people together to contribute to sustainability initiatives.
Efforce helps companies reduce energy consumption by introducing tokenization via non-fungible tokens (NFTs) in the energy efficiency industry. The public sale of "Energy Efficient NFTs" sought to promote and raise awareness of energy efficiency projects.
According to its official homepage, Efforce has helped more than 2000 clients save more than $700 million in energy costs.
WOZX Token
WOZX is the Efforce project's native utility token. WOZX enables users to participate in the project's governance, vote, and make proposals. WOZX token can also be used as a reward for selected energy-saving projects.
WOZX has a maximum supply of 1 billion and is neither inflationary nor deflationary. 20% of WOZX’s total supply was allocated to Efforce with a vesting schedule of 1% per year, another 20% - to research and mining incentives, 15% - to ecosystem growth and to pay for consulting, and the remaining 45% was sold during a private sale in June 2019.
Efforce Founders
Efforce (WOZX) was co-founded by Apple co-founder Steve Wozniak, Jacopo Visetti, Jacopo Vanetti, and Ken Hardesty, who have more than a decade of experience in this field. Sergio Carloni is the platform's CEO. The platform is run by 'AitherCO2 SpA,' a company based in Italy.
How Does Efforce Work?
Efforce is working on the Energy Performance Smart Contract to enable investors to use their WOZX tokens to support NFT-based energy efficiency projects worldwide.
Efforce describes the contribution process as follows:
- Efforce selects a project and approves it to get funded. The implementation cost is the amount requested by the Beneficiary or ESCo to fund that given project. The amount in USD gets divided into small shares represented by NFTs, each priced in USDC.
- WOZX holders wanting to contribute to the project are invited to lock their tokens required to mint the desired amount of NFTs. The amount of WOZX to be locked for each mint is given in the project description.
- After the minting contract is deployed on-chain and activated on a declared date, token lockers can decide to mint the NFT for the minting price in USDC. NFTs are now in the minter's wallet.
- The minting contract is terminated, and the project's implementation starts. A staking contract reserved for the project's NFT is deployed on-chain and activated, and NFT holders can now stake their NFTs.
- The project is implemented and starts generating returns converted in USDC by the ESCo Beneficiary. USDC coins are deposited on a smart contract on-chain which mints mWOZ with a ratio of 1:1, so that reward tokens are fully backed and instantly swappable with USDC. The ESCo Beneficiary directly deposits mWOZ in the staking contract distributing rewards to NFTs staked; only staked NFTs can earn rewards.
- The project is completed. The staking contract is terminated, NFTs are only unstakable, and WOZX tokens in the locking contract are unlocked.
Where to Buy WOZX?
WOZX can still be bought and traded on cryptocurrency exchanges like Global, Gate.io, Huobi Global, BKEX, and Bithumb. Visit the market page on CoinStats to view the exchange platforms supporting Efforce (WOZX). Compare the exchanges’ security, user experience, fee structure, supported coins, etc., to choose the one with the characteristics you need, such as affordable transaction fees, an intuitive platform, round-the-clock customer service, etc. Also, consider whether the cryptocurrency exchange is regulated by the Financial Industry Regulatory Authority (FINRA) and allows you to buy WOZX using your preferred payment method.
HBTC was the first major exchange to list WOZX and offers Bitcoin (BTC) and Tether (USDT) trading pairs for WOZX.
