What Is the Newly Launched Virtual Power Plant Starpower Project? What Are the Key Points Worth Paying Attention To?

Author: Kyle @ Contributor of PermaDAO

Translator: Kyle @ Contributor of PermaDAO

Reviewer: Tina XU @ Contributor of PermaDAO

Virtual Power Plant: Starpower

The virtual power plant is an energy management system that consolidates dispersed energy equipment through information and communication technology and software systems to achieve smarter and more flexible energy management.

Starpower is an emerging decentralized virtual power plant project that combines technologies such as the Internet of Things, blockchain, and artificial intelligence to provide dispatchable energy equipment resources by connecting energy devices such as air conditioners, water heaters, and energy storage batteries. Meanwhile, Starpower will cooperate with Arweave to ensure the transparency and traceability of all data, contributing to creating a sustainable environment and reducing carbon emissions.

Similar to other DePIN projects, Starpower also introduces a Token incentive mechanism to encourage users to connect high-power consuming devices to the network. Both individuals and organizations (companies, shopping malls, or schools) can join the Starpower network.

In addition to preparing the software provided by Starpower, users also need to purchase the official (based on ARM TrustZone technology) smart plugs or officially recognized third-party smart plugs to connect t their electrical devices to the network. Starpower will reward users with $STAR token based on electricity data and the response of connected devices. Currently supported devices mainly include some common household or commercial appliances, and more device connectivity standards will be gradually opened up in the future, such as thermostats and energy storage batteries.

Recent Key Events of Starpower

The Starpower project was officially launched in January 2024 and has made significant progress in less than two months since its inception. In terms of products, the allocation rules for NOVA points have been optimized, and the Grants page has been improved. Starpower's project cooperation and activity development are more prominent, as detailed below.

Launch of Genesis NFT—Pioneer Pass

Shortly after its launch, Starpower introduced its Genesis NFT, known as the Pioneer Pass. Users can earn points by completing tasks on platforms such as Zealy or Taskon, and then obtain corresponding whitelist access based on their points ranking.

Pioneer Pass consists of a total of 10,000 pieces, distributed according to different whitelist privileges:

OG whitelist: 2000 NFTs allocated, with a maximum of 2 NFTs per wallet;
VIP whitelist: 4000 NFTs allocated, with 1 NFT per wallet.

The free minting event of Pioneer Pass was quite popular, starting on February 22nd, and all 10,000 NFTs minted within half a day. Subsequently, Pioneer Pass was listed on NFT markets such as Magic Eden, Tensor, and OKX, with a trading volume exceeding 7777 SOL in just one day, and the highest NFT price reached 2.5 SOL.

Project Collaborations

As of March 13th, Starpower has partnered with 5 projects within two months, including:

ABC Inscription Grandmasters—ABC Ventures;
Solana Inscription Asset Cross-Chain Bridge Project—SoBit;
Metaverse Gaming Platform—Ultiverse;
The first trading platform on SRC20 protocol—OpenStamp;
The first cross-chain GameFi project on SRC20 protocol—BitDragon.

Launch of Genesis Pass and SRC-20 Assets

After the successful launch of Pioneer Pass, Starpower plans to continue releasing rare Genesis Passes. At the same time, Starpower has partnered with OpenStamp to launch SRC20 assets (a Bitcoin network token standard inspired by the BRC-20 token standard and designed based on the Stamps protocol). For more details, please stay tuned for project updates.

Future Plans and Prospects

Starpower has a grand vision and a clear and practical plan—the test network is scheduled to be launched in the second quarter of 2024, with more than 10,000 network devices connected simultaneously; in the third quarter of 2024, the Starpower team plans to establish business revenue, academic cooperation, commercial cooperation, and government cooperation, as well as build a community of 100,000 users; finally, by the fourth quarter of 2024, the main network will be launched and $STAR will be issued.

With a total supply of 1 billion $STAR tokens, 70% will be reserved for the network builders according to the distribution mechanism. Additionally, Starpower has invited an interdisciplinary professional team to design its token reward mechanism, aiming to attract more users to participate, further driving business development, enhancing the value of $STAR, attracting more users, and achieving a positive feedback loop.

Starpower has made comprehensive progress within just two months since the bull market's start, showing potential to become a rising star in the DePIN track. However, from a broader perspective, Starpower chooses to shoulder the burden bestowed by the times and, together with the Arweave protocol, which also pursues environmental protection, jointly solves thorny climate issues and promotes the early arrival of a "zero-carbon world".

💡 Initiated by everVision and sponsored by Forward Research (Arweave Official), PermaDAO is a "Cobuilding Community" focus on the theme of Arweave consensus storage. All contributions from PermaDAO contributors form the bedrock of data consensus. Let's embark on a journey starting with data consensus and delve into a novel paradigm for decentralized collaboration - Decentralized Autonomous Organizations (DAOs)!

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