ENEDEX launches decentralised energy trading exchange

The first cross-chain decentralised exchange for energy project funding and trading is claimed by the company ENEDEX.

The ENEDEX technology utilises the Polkadot Moonbeam parachain, an Ethereum-compatible smart contract platform, “to offer users a seamless experience, while saving transaction fees and making the world a greener and cleaner place”, according to a company statement.

In essence, ENEDEX with its Launchpad is offering an approach for the development of energy projects through crowdfunding, such as has been successfully developed by Cape Town based Sun Exchange among others.

“Energy is the latest asset class that is joining the decentralised finance innovation. ENEDEX brings a new way energy trading will be conducted in the future and enters a censorship-resistant and transparent universe with democratised global access for all,” the company’s unnamed CEO is quoted as saying in the statement.

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“It is hard for the average person to trade or invest a small amount in energy assets. Tokenisation of energy assets breaks down entry barriers linked to market access, geographical barriers, high transaction costs and liquidity constraints.”

Polkadot is a network protocol that allows arbitrary data – not just tokens – to be transferred across blockchains – hence the ‘cross-chain’ moniker.

ENEDEX says the total supply of the ENE token is capped at 1 billion, with unsold tokens to be burnt. Staking options are expected to become available in December 2021, to be followed by a kickstarter launch in Q1 of 2022.

In addition to the decentralised exchange, ENEDEX is also launching a non-fungible token (NFT) collection link to EU emissions allowance certificates.

ENEDEX, apparently Switzerland headquartered, says its team is composed of “industry veterans with more than 35 years of combined experience in energy trading, strategy, executive management, investments, engineering, entrepreneurship, Bitcoin, cryptocurrency and blockchain”. However, none are named and indeed any other information about the company is lacking in both its communications and website.