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GHO-Energy

In essence, the Sustainable Energy Project in Africa, driven by onchain mechanics like GHO and Chainlink, becomes a catalyst for positive change. It not only addresses the pressing need for sustainable energy solutions but also pioneers a novel approach to project financing.

GHO-Energy

Created At

LFGHO

Winner of

Family - Pool Prize

Prize Pool

Project Description

GHO-Energy is a DAO based platform designed to facilitate the management of energy communities. The project creates a platform to enable individuals to build and join "energy communities" (group of people who can pool energy & resources) with DAO governance, create campaigns to raise funds for sustainable energy projects, and invest in sustainable energy and climate protection projects. The platform is designed to facilitate energy community creation and crowdlending with GHO token, which allows multiple investors to pool their money together to fund a project.

How it's Made

Tech stack: React, Typescript, Tailwind, EVM-compatible smart contracts written in Solidity provides business logic and trust for the platform IPFS to store images of energy community membership NFTs, Chainlink Functions with Automation, Magic Link for wweb2 and web3 login.

Smart contract functionalities: The smart contracts used in GHO-Energy provide the following:

  1. Create new Communities: Users can use the platform to create energy communities with a DAO governance. Energy Community is defined in regulatory frameworks across Europe and USA to allow citizens, businesses and public entities to take an active role in decarbonization. One of the advantages is the possibility of exchanging energy between the members of the community in a P2P scheme.
  2. DAO governance: The DAO should help members decide who is in or out of the community, and allow for shared decision making on investments, assets maintenance, energy sharing, community operation, etc. Financing: The Crowdloan smart contract allows investors to pledge assets to a particular community. During a certain period the funds are locked. Afterwards, the investors are able to withdraw their funds plus the yield.
  3. Operational Support: The platform leverages Chainlink Functions to fetch: a. energy prices from electricity market, b. energy tariffs from the regulator c. community members consumption and production from the energy distributor and d. execute market algorithm (double auction) to calculate the equilibrium price and transaction every hour. The data is stored on chain, can be used by 3rd party providers to bill members according to the market results. It could also be used, for an on-chain settlement between members of the community. T
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