Introduction

Hello, Solareum community!

We are thrilled to announce major updates on the Solareum ecosystem, reaffirming our commitment to keep our community informed and engaged through our bi-weekly blog series. We hope that watching our video will give you the same level of excitement and pride as it did for us, witnessing the culmination of our team's long-standing dedication to refining every detail.

In today’s update, we are excited to share some significant developments with you. We will be introducing our dual-token structure, revealing the stories behind our new tickers, and providing a sneak peek into future developments that are sure to capture your interest. Let's start with our exclusive video that will unveil this exciting news and what it means for our community.

The Story Behind Our Tickers

Our goal was to choose a name as unique as our vision, thereby increasing our visibility. We also aimed to find tickers that resonate with our core values and mission. These considerations were crucial in ensuring our tickers stand out and reflect the innovative spirit of Solareum. This journey led to a lengthy but cheerful conversation within our team, resulting in unanimous agreement on the final selections.

Every detail matters in our mission to innovate and grow, including the careful selection of our ticker names. These tickers are of great importance to us as they will represent our company, our brand, and our vision: Solareum. To avoid confusion and better distinguish ourselves from existing protocols, we have decided to adopt the tickers $SLM and $JUL with the launch of our mainnet.

With a focus on our existing community, and an eye on the broader market, we will be changing the ticker of our native Solareum token to $SLM.

$SLM stands for Solareum, representing the foundational pillar of our ecosystem. As the backbone, $SLM serves as the store of value, driving stability and sustainability. This symbolizes our commitment to creating a sustainable and prosperous future.

Every layer one blockchain operates on its proprietary gas coin and Solareum is no different. With a focus on renewable energy, it only seemed fitting that we used an energy-inspired term for the name of our coin, and thus, Joule ($JUL) was born, representing the essential gas for our blockchain. 

Together, they enhance visibility and clarity while effectively communicating Solareum’s vision and mission in pioneering sustainable technological solutions.

Solareum's Dual-Token Approach

Our ecosystem will be powered by two interdependent tokens.

$SLM, with its fixed supply (to be announced later), will serve as a store of value, while $JUL functions as the gas coin required to execute transactions and facilitate smart contracts on our blockchain. Available in the free market, both $SLM and $JUL will give users the flexibility to trade these tokens openly, increasing value through demand and ensuring liquidity. 

At the heart of our ecosystem, IoT device users hold $SLM to drive their rewards for generating green energy. As the only way to produce our gas coin $JUL is through holding $SLM, each IoT device will require a minimum holding of $SLM. Thanks to this structure, the increase in the adoption of our technology will bring an extraordinary demand for our limited supply coin, $SLM.

While the end user is minting $JUL, they will receive the rewards for their contributions to our chain in $SLM. $SLM’s limited supply ensures sustainable growth, while $JUL maintains a robust balance through its strategic minting and burning mechanisms. This system enables those interested in the Web3 functions of Solareum to accumulate $JUL as needed for their operations and simplifies the ecosystem for those interested in energy monitoring as the only asset they will see in their experience is $SLM.

Users can amplify their rewards by increasing their contribution to the blockchain, either through increasing their $SLM holdings or generating additional electricity via their Solareum-monitored systems. This dual approach incentivizes active participation, driving both financial and environmental benefits within our ecosystem.

Benefits of Our Dual-Token Approach

Enhancing User Experience

We began this journey with our core principles in mind, primarily focusing on enhancing user experience and our vision that people shouldn't have to dive deep into Web3 to earn rewards. Our goal is to extend these benefits seamlessly to everyone, bridging the gap between Web3 and Web2. Recognizing that the majority of our nodes will be Web2 users, we designed this dual-token structure to achieve our vision, harmonizing value and utility strategically.

To enhance user experience even more, we have ensured that IoT device holders can start minting and earning rewards immediately without any obstacles. In our dual-token structure, nodes are required to hold a minimum amount of $SLM to mint $JUL. To streamline this process for the owners of each node, our IoT devices will be delivered with this minimum amount. This enables users to immediately begin minting $JUL, earning rewards accumulated in $SLM and increasing ROI from their energy investments.

Eliminating Inflation and Complexity

The continuous rise in energy generation from our nodes could lead to inflation and complexity in a single-token system. However, by utilizing $JUL for operational needs, we eliminate these impacts on our Layer 1 blockchain. This separation allows for a limited supply of $SLM, supported by an unlimited supply of $JUL, with regularly updated exchange ratios calculated based on the total generation on the blockchain through the burning mechanism. This way, the dual-token system provides Solareum with the benefits of both the stable value increase of a limited supply token and the operational flexibility of an unlimited supply token.

Furthermore, by separating the gas coin from the reward, we foster a more democratized system that balances the interests of large energy producers and regular households. This approach is crucial for maintaining a robust and resilient blockchain and is integral to the ethos of Web3.

Increasing Demand

As users generate green energy, they mint $JUL, which is crucial not only for facilitating transactions on our blockchain but also for sustaining our ecosystem's activity. Once minted, $JUL is automatically converted into $SLM, rewarding users and creating a consistent demand. The minted  $JUL will be made available on the open market, ensuring its accessibility and contributing to the ecosystem's stability.  This process effectively reduces the circulating supply of $SLM, enhancing both its value and stability within the ecosystem.

This mechanism ensures that $JUL, as the gas coin of our blockchain, is always accessible to the public, further stabilizing the ecosystem by maintaining a balanced flow of transactions and energy production.

Additionally, operational activities on the blockchain, such as transactions and smart contract executions, require the use of $JUL. Since $JUL can only be created through $SLM, this dynamic further drives the value of $SLM due to increasing demand. This approach strengthens our commitment to green energy and ensures the continuous growth and stability of the Solareum ecosystem.

Exclusive Benefits for Current Token Holders

We are pleased to announce that current holders of our SRM token on the Ethereum network (ERC-20) will receive numerous exclusive benefits and privileges. These advantages will be available for those holding $SRM at the mainnet launch. We are committed to ensuring that our early supporters receive the advantages of their support and trust, continuing to build without compromise. We sincerely value your support and trust which have contributed immensely to Solareum’s growth. Stay tuned for our upcoming announcements detailing these exclusive benefits.

Stay Tuned for Major News

We are excited to share that we are actively forging major partnerships that will enhance and expand the Solareum ecosystem. These collaborations are set to bring substantial value to our operations and we can’t wait to reveal more details soon.

Additionally, in our commitment to keeping our community informed and engaged, we will continue our bi-weekly blog and AMA series, where we provide in-depth insights into our ecosystem's growth, offer behind-the-scenes stories and answer community questions. Our goal is to ensure our community remains informed, included, and excited about the future of Solareum.

Keep an eye out for upcoming updates, in which we will delve into the calculations, formulas, and mechanisms that ensure $JUL remains stable and valuable as an unlimited supply supported by $SLM. 

Thank you for being an essential part of our journey toward a sustainable future!