The RED platform is a social energy platform designed to revolutionize the way each of us interacts with energy; RED offers everyone the possibility to #earn from energy through the only 100% digital Energy Selling Franchise on the market;
2. What is the RED V-LEC (Restart Energy Democracy) Franchise?
The RED V-LEC franchise is the first 100% digital Energy Selling Franchise using blockchain technology in the European Union developed by Restart Energy.
3. What can I do using RED V-LEC Franchise?
The RED franchise is a Web and Mobile application that allows any individual and legal entity in the European Union to open a “business in its own virtual energy community” and earn money from the sales and monthly consumption of electricity and natural gas with the help of friends and contacts.
4. How much money can I earn?
It’s up to you. We offer all the support so you can convert your phone contacts and social networks into energy contracts that will bring you money on a monthly basis.
5. Who can apply for this business?
Consumers – Individuals
Who want to develop their own business in the field of energy and have a passive source of income from the consumption of energy and gas of their own network of friends and contacts.
Legal entities – Companies
Who have potential customers both individuals and companies, and want a business or line of business in the field of energy sales without the risks and complexity of providing these services.
6. How is the income tax counted?
The income tax is 16% and is withheld at the source by RED, who will declare and pay it on behalf of individuals enrolled at the Romanian State Budget.
7. How do I collect commission from the franchise sales?
You will collect the commission in RON / Euro in your bank account for energy/gas contracts intermediated.
8. Does RED franchise have a cost?
The first 6 months are free in order to be convinced. After 6 months, you will need to have a minimum amount of MWAT, depending on the size of the franchise.
See more here
9. How can I apply for a RED franchise?
Applications for the RED franchise can be made via the platform. Creating an account is a simple process that is subject to subsequent approval once the required documents are sent. Find the entire process inside the application, which can be found herehere.
10. What documents are required to apply for the RED Franchise?
In order to apply for a RED franchise, you need to upload a set of documents or data as follows: ID card copy, a recent selfie with ID card; bank details – bank and bank account, location details: country, region, city; name surname; franchise name. If the franchise is managed by a company, the company’s data are required: name, registration number at the Trade Register, VAT number, copy of the registration certificate, and notarial power of attorney or copy of the deed of attestation proving company legal representation.
11. How does the RED franchise work?
The RED franchise offers the right to grant commissions generated from the sale of 1 MWh energy for every 1 MWAT staked during the operation of the valid franchise. The franchise can be granted locally (city), regionally (county), or nationally.
For example, a local (city) type franchise by initiating a stake of 10,000 MWAT gives the franchisee the right to collect a commission for a maximum consumption of 10,000 MWh / year. In order to receive a higher commission, the franchisee must increase the amount of MWAT in the stake and, in case the consumption exceeds the MWAT requirement in the stake, there will be a request to upgrade the franchise to allow only a higher number of consumers and a volume of increased commission.
12. How is RED franchise granted?
Having a sufficient amount of MWAT, it is possible to apply for RED Franchise that will allow an additional income from the sale of energy services. In order to grant the franchise, it is necessary:
10,000 MWAT – for the City type franchise – which offers the possibility of intermediating energy contracts at the local level of a city
100,000 MWAT – for the Regional type franchise – which offers the possibility of intermediating energy contracts at the county level
1,000,000 MWAT – for the National type franchise – which offers the possibility of intermediating energy contracts at the country level
~ 10,000,000 MWAT – for the Master type franchise – which offers the possibility of intermediating energy contracts at country level as well as the possibility of creating sub-franchises within the country where it was granted (the amount of MWAT required being higher or lower than 10 mil MWAT depending on the size of the population of the country concerned)
For the first 6 months, the franchise will be a free trial. The applicability of those mentioned will take place at the end of the trial period.
13. Is the number of franchises limited?
Yes, the number of franchises that can be granted is limited in each country to a maximum of 1 franchise per 10,000 inhabitants.
14. What are my obligations once the franchise is validated?
The franchise is granted for a 12 months period from which the first 6 months are for trial. Intermediating the sale of as many supply contracts as possible will consequently attract a higher value commission.
15. How long will it take the validation process?
The validation process lasts between 24 and 36 hours, and, regardless of the status, a response will be received on the email address registered in the platform.
16. What type of support do I receive to carry out the sales process?
Once the franchise is validated, you will receive access to several special offers for resale energy services. Everything can be managed through the platform, taking over the offers, customizing them, and offering them to the end customers.
17. How the process unfolds once a customer is decided and wants to change the energy supplier through the franchise sale?
Once the sales process has been completed, the supplier who initiated the offer will take care of all the related administrative elements. The franchise operator will be able to focus strictly on the sales process.
#RED for Suppliers
18. What are the benefits of Energy Suppliers on the RED Platform?
RED Energy Suppliers can access millions of potential new customers converted via many RED V-LEC virtual franchises around the world. You earn new clients at a small cost compared to typical fees paid to an energy broker. Enter the profitable market of micro volumes, household consumers, and SMEs!
19. What new functionalities can I offer to consumers through RED?
RED uses advanced Blockchain and IoT technologies to provide vendors with functionalities unique in the market.
RED Pay – The unique payment collection platform for suppliers that allows consumers to pay scheduled energy bills in both FIAT and digital currencies (Bitcoin, Ethereum, MWAT)
Blockchain Transparency – Offer your consumers 100% transparency by recording the most important events from the interaction with them on Blockchain (issuing and paying invoices, consumption, notifications)
Carbon Footprint – Certifies on the blockchain the energy mix provided, offering consumers the unique possibility to calculate their carbon footprint;
Demand Response – View, incentivize and control in real time consumer’s consumption curve from your portfolio (Service available only with RED IoT Sensors and Gateway)
REO-G Trading – Consumers can purchase REO-G digital tokens directly from manufacturers that certify the origin of renewable energy on the Blockchain recordings
Green Certificate – With a digital Green Certificate, you can prove on a public blockchain that you are a sustainable company that supports the production of renewable energy as well as the amount of CO2 avoided in the atmosphere. Your business partners, customers, and suppliers will be delighted to work with a sustainable company and to check this information publicly at any time.
20. What are consumer’s benefits inside the RED platform?
Consumers, in addition to the best price they benefit from, have at their disposal a digital platform where they can check any time the details of the supply contract, energy consumption, access bills and payments made, quickly make payments for due bills and, if necessary to discuss with the assigned account interlocutor.
Additionally, if consumers want to display the real – time consumption within the application, they can request the installation of a RED smart meter.
MWAT / ECF / Staking
21. What is MWAT?
MWAT is an ERC-20 digital token created by Restart Energy Democracy on the public network Ethereum in order to allow access to the functionalities of the RED platform. The number of MWATs is limited to 500 million tokens.
22. What are MWAT specifications?
With the help of MWAT, you can access the following functionalities on the RED platform:
a) You can get a local, regional or national franchise
b) Works as a virtual battery for REO-G storage (1 MWAT can store 1 REO-G)
c) It can be used as the currency for the acquisition of REO-G
d) It can be transferred to other users of the platform
e) It can be stored and withdrawn from a personal ETH wallet
f) It can be traded on the RED Exchange with other pairs of tokens
g) Allows obtaining a role of RED Validator
h) Allows staking* for benefits
i) It acts as a virtual battery for the amount of energy that the consumers of a RED franchise can consume, having the ratio of 1 MWh / year for 1 MWAT owned by the RED franchise
* staking is an action by which the MWAT token is freeze for a period of time through the RED platform in order to obtain additional benefits
Through MWAT staking, users can get benefits in REO-G from ECF, can get the right to receive a V-LEC Franchise, can get the right to store REO-G, the amount of MWAT staked can determine the size of the franchise in terms of total annual energy in MWh according to the formula 1 MWAT staked = 1 MWh / year.
24. Is a minimum MWAT value required to stake?
No minimum MWAT value is required. The stake can be initiated with any available MWAT.
25. What is ECF?
ECF is the abbreviation for Green Energy Community Fund. Users of the platform can initiate a stake for a limited period of time and, at the end of the period, will receive a quarterly benefit in the form of REO-G. Producers, based on historical production not older than 12 months, can request the issuance of REO-G. 5% of the requested REO-G will be donated to the ECF fund and will be distributed to token holders who have chosen this form of benefit.
26. What is a RED Validator?
A RED validator is an entity with professional experience in the field of renewable energy that has the right to verify and validate REO-G requests from green energy producers.
27. What are the conditions for granting the RED Validator status?
The validation right is granted exclusively to a single entity per country based on a stake of 10 Mil. MWAT and by passing with a minimum grade of 9 out of 10 an exam with the theme Renewable Energy.
28. Is the activity of RED Validator rewarded?
Yes, each RED Validator will be rewarded in MWAT for each validation performed.
29. How can I purchase MWAT?
MWAT can be purchased from the RED platform or from external sources through the agreed exchange.
30. How can I deposit MWAT on the RED platform?
MWAT can be deposited in the RED platform by accessing the special Ledger menu, completing the requested data, and saving the request. Once this step is completed, it is enough to transfer the amount from the personal wallet, and the deposit will be completed in a short time.
31. Can I withdraw MWAT from the RED platform?
MWAT can be withdrawn from the RED Platform by filling a withdrawal request. Being a token, withdrawal is only possible at the personal ETH address that will be specified when the withdrawal request is completed.
32. How can I initiate an MWAT stake to obtain additional benefits?
The MWAT available in the RED platform can be subject to initiating a stake by accessing from the main menu – the Stake option.
33. What are the staking rules?
Each staked MWAT confers REO-G storage rights (1: 1 – 1 MWAT ratio = 1 staked REO-G).
Also, a Franchise can sell as an amount of energy directly proportional to the number of MWAT staked according to the rule 1 MWAT staked = 1 MWh sold.
Any user can perform staking for a minimum period of 90 days. The reward is calculated based on the dynamic bonus: when a user initiates an MWAT stake, the percentage is calculated between the amount to be allocated for the stake and the total MWAT stake – the percentage is applied to the ECF value.
34. How can I sell the available MWAT?
MWAT can be sold through the platform exchange or through agreed external ones.
35. What is the RED exchange?
The RED platform has as an option an internal exchange that allows trading of the available MWAT and REO-G tokens. Possible trading pairs are MWAT / REO-G, MWAT / BTC, MWAT / ETH, MWAT / USDT.
REO-G for Producers
36. What is REO-G?
REO-G or a GreenToken is a non-fungible ERC-721 token issued on the public Ethereum blockchain that certifies the origin of energy produced from renewable sources. Each REO-G has a unique identifier and contains the details provided in the European RES Directive (2009/28 / EC) related to guarantees of origin. Manufacturers can obtain on the RED platform 1 REO-G for every 1 MWh of Green Energy produced. REO-G is valid for 12 months, after which it expires, and during this time, it can be used only once by companies to reduce their carbon footprint.
37. What are the features of the REO-G token?
The specifications of the REO-G – ERC 721 token are:
a) It is generated by claim only by renewable energy producers
b) 1 REO-G means that 1 MWh of renewable energy has been produced
c) It is the green attribute of energy and is stored in the MWAT virtual battery according to the formula 1 MWAT allows the storage of 1 REO-G
d) It can be sold by the Producers through the RED Platform Marketplace
e) It can be transferred to other users on the RED Platform
f) It can be traded on the RED Exchange
g) Can be withdrawn and kept in a personal ETH wallet.
38. What can I do with REO-G?
Once you have received REO-G, you can hold or sell on the RED Exchange for MWAT or Ethereum to companies or individuals who want to use it to reduce their carbon footprint.
39. What is the value of a REO-G?
The value of a REO-G is directly related to demand and supply on the RED Exchange.
40. Who needs to buy REO-G?
Companies or individuals who want to obtain a “Green Sustainability Certificate” from RED will need to own and send REO-G to RED to initiate the process.
41. How can I get REO-G?
It’s very simple, register now on the RED platform, or download the application here and in a few minutes, you will be able to have your first REO-G.
42. Who can request for REO-G to be issued?
The mint of REO-G can only be requested by the Producer, based on the historical production not older than 12 months.
43. What happens when a Producer registers a REO-G mint request?
A third party with the role of RED Validator – verifies the accuracy of the request and approves or not the REO-G mint.
44. How is the Green Certificate issued?
REO-G can be used only once to obtain a “Green Certificate of Sustainability” on RED, and the action of issuing the certificate will lead to the disappearance of the REO-G token from the electronic wallet. At the same time, when issuing the “Green Certificate,” a unique link and a QR code will be generated for companies that can post it on the site, Facebook, or other digital channels.
45. I am a Producer – can I register on the RED platform?
The RED platform is intended exclusively for producers of renewable green energy, registration being possible at any time.
46. What documents are required to register as a producer?
In order to register as a producer, you need to upload a series of data as follows: company details: name, registration number at the Trade Register, VAT number, copy of registration certificate, and notarial power of attorney or copy of the deed of attestation certifying the company’s representation from a legal point of view, the registered office address, a copy of the manufacturer’s license, a technical production certificate.
47. What advantages do I have if I register as a Producer on the RED platform?
Any producer registered in the platform can request the REO-G – Green Energy Token – mint, which certifies the production of energy from renewable sources and can be sold to consumers in order to transform them into Green Certificates.
Green Certificates for Companies
48. What is a “Green Certificate”?
A Green Certificate is a way to prove the degree of sustainability of a company by supporting green energy producers in a 100% transparent way through the blockchain developed by RED. Each “Green Certificate” will contain information about the “Company,” “REO-G Number,” and “Quantity of CO2 avoided,” as well as a “Single Serial Number” on the blockchain that is generated with the registration of the certificate and can be publicly be verified on the Ethereum network.
49. How can I obtain a “Green Certificate” of sustainability?
To obtain a “Green Certificate,” you must have REO-G in your wallet and use it to issue the certificate. It’s very simple, register now on RED, or download the application here, and in a few minutes, you will be able to have your first REO-G.
50. How much does a “Green Certificate” cost?
RED does not charge cash fees for issuing green certificates for companies. In order to cover the costs of validating and registering the information on the blockchain, a small payment in MWAT is required.
51. Who can request the issuance of a “Green Certificate”?
Any participant with an account in the application can request a “Green Certificate of Sustainability” based on the number of REO-Gs held.
52. What can I do with a “Green Certificate”?
A digital Green Certificate can prove on a public blockchain that the company is sustainable and supports the production of renewable energy and as well the amount of CO2 avoided in the atmosphere. Business partners, customers, and suppliers will be delighted to work with a sustainable company and check this information publicly at any time.
53. Can I become a Consumer through the RED platform?
Any user of the platform can benefit from the energy tariffs and can request the closure of a supply contract.
54. What documents are required to change the actual supplier?
In order to change the actual supplier, it is necessary to upload a series of documents and data as follows: name, surname, address, copy of identity card, a selfie with identity card, copy of recent utility bill, and copy of property documents or power of attorney, as appropriate. If the consumer is a legal entity, the company’s data are required: name, registration number at the Trade Register, VAT number, copy of registration certificate, and notarial power of attorney or copy of the deed of attestation attesting the company legal representation.
55. Does changing the current energy supplier involve any cost on my part as a customer?
The supplier change process does not involve any cost from the customer and is done remotely in a fully digital formula.
56. How long does the supplier change process last?
The whole process lasts between 21-45 days. Once the consumer approves the change agreement, this will allow the new supplier to deal with the related administrative steps on his behalf and with notifications required to be sent to the current supplier.
57. Will it be any interruption in the energy supply in the process of changing the supplier?
No interruption will take place due to supplier change. There will be no change to the existing installation, so there is no reason why the supply could be interrupted.
58. Can I be fined by the current supplier as a result of the termination of the contract with him?
The actual supplier does not have the legal right to penalize a customer in the case of a switch. On the contrary, it is possible to offer a better price or conditions.
59. What happens if the new supplier increases the prices?
The new supplier cannot increase prices during the contract in the context a fixed supply price has been agreed. Any increases that may occur (energy transport, energy distribution, green certificates, etc.) are directly controlled by ANRE (National Energy Regulatory Authority) and affect consumers, regardless of the supplier with whom you concluded the contract.
Documents required for RED account registration / KYC
60. What type of documents are required to be accepted as a user of the platform?
To log in to the platform, there is no document required. To use the platform as a Consumer Manufacturer or Prosumer, a special set of documents specified in the user manual can be found herehere.
61. Do the requested documents have to be in the name of the person applying, or can I apply for someone else?
The requested documents are strictly on behalf of the applicant named; in no case can it be applied on behalf of another person.
62. In the requested documentation, what data must I provide – the country where I live or the country where I have the nationality?
In the first stage, the data referring to the native country will be necessary. Later documents are requested to validate the real address.
63. How long does the validation process take?
The validation process lasts between 24 and 48 hours, depending on the number of existing applications.
64. How do I know if the set of documents sent is complete?
Once the validation process is completed on the email address registered in the RED platform, a confirmation email will be sent with information about the exact status of the process.
65. In the process of sending documents, I encounter difficulties – I do not find the city in the list generated after selecting the country of residence. How should I proceed?
You can report the problem at any time by email to email@example.com or by opening a ticket inside the application.
66. Are countries that are not accepted on the platform?
Following current legislation, the RED Platform cannot accept registered users from the following countries:
Central African Republic
Papua New Guinea
67. A utility bill is requested in the set of documents. How recently must the requested document be?
In order to be a valid document, the last utility bill must not exceed 3 months from the date of issue.
68. What is Blockchain?
Blockchain is a decentralized public registry (database) on the Internet to which data can only be added and read but cannot be deleted or modified. This public register is composed of blocks in which multiple transactions are recorded. Growing linearly, each new block connecting to the previous one like a chain was called Blockchain.
69. Where can I access more information about Blockchain?
It is an internal RED Blockchain where all the actions/transactions of users present on the platform are registered. The information is transparent, traceable, and verifiable at any time while maintaining the confidentiality of personal data also.
72. What is RED Explorer?
It is a viewing interface where RED users can check transactions using Wallet ID / Hash ID