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FRED Energy (FRED) has launched an ERC-20 token (FREDx) alongside its Stellar based token to increase awareness and liquidity of its green energy related projects. This will make FRED energy a dual blockchain project, a rising trend in projects struggling to gain investment, liquidity, and exposure.
The company plans to enable swaps between its assets via an app scheduled for Q2-Q3 2021. The app will enable users to swap XLM/FRED to FREDx/ETH and vice versa based on average exchange prices. This will have a push/pull effect on trading between the two assets and their respective blockchains. The plan is unique in that although there are 808M tokens of both assets, there can only be 808M in circulation from both blockchains at any one time. A swap pool of 404M FRED and 404M FREDx will be used to manage total in circulation ratios where swaps from one side may be halted until deposits from the other side have taken place.
About FRED Energy
FRED Energy was launched in 2018 on its own blockchain and switched to the more ECO friendly blockchain Stellar in 2019. In February 2020 it launched its shop.fredenergy.org marketplace where consumers can buy green energy related products using cryptocurrencies. Recently the project went dual blockchain with their ETH token FREDx.
In Q4 2021 the company will begin selling its own developed products. The first product is an innovative power bank aimed at the camping/off-grid markets that uses emerging battery technology enabling reuse and recycling of the battery pack. The project will track its battery packs by writing the state of the product to the blockchain (manufactured, retailed, returned, reused, recycled). It is estimated that just 5% of Lithium-ion batteries are recycled, the rest go to landfill, FRED Energy is looking to disrupt the power bank market and influence the market leaders towards change.
Most power banks have a lifecycle of approximately 2 years, cheaper products just 1 year, the DSA-1 by FRED Energy is forecast to have a battery lifecycle of between 5 and 10 years. The trend towards electrification and the storage of energy will have wider economic repercussions with regards to a greater usage of low cost, low-cycle, and poor efficiency Lithium-ion battery cells, leading to further environmental and economic issues.
FRED Energy wrote its prototype DSA-1 to the blockchain in December 2020, possibly a world first in product lifecycle management (PLM).
Further green energy focussed projects are scheduled for 2022 that will see FRED Energy become a market leader in green energy projects using cryptocurrency and blockchain.
Find out more at https://fredenergy.org
FREDx https://token.fredenergy.org/fred-energy-erc-20-fredx/
The post FRED Energy goes dual chain with FREDx appeared first on CoinScribble.
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