What is EFFORCE?
The EFFORCE token or WOZX is the utility token powering the Efforce platform. The latter is a decentralized trading platform with a focus on energy efficiency.
WOZX is based on an ERC-20 token standard. This means it’s deployed on the Ethereum blockchain. Besides Ethereum, WOZX is running on Polygon.
The EFFORCE token has more than one use case, however, it’s mainly used to create and access energy savings.
Additionally, WOZX serves as a governance token. It grants governance rights that holders can use to vote on proposals. In other words, the WOZX token allows users to determine the future development of the project.
There is a max cap of 100,000,000 EFFORCE tokens. They have been allocated as follows:
- 45% - Private Placement;
- 20% - EFFORCE;
- 20% - Rewards;
- 15% - EFFORCE Ecosystem & Advisors.
Since WOZX is a cryptocurrency, its price tends to fluctuate. In order to make an informed purchase decision, you can have a look at the EFFORCE price history or the current WOZX price on the graph above.
What are the Main Features of EFFORCE?
EFFORCE is a marketplace centered around energy efficiency and powered by blockchain technology. Energy efficiency is defined as a type of system that uses up less energy than other systems out there.
To put it simply, EFFORCE connects the creators of energy-efficient projects with individuals who want to fund said projects. By doing so, contributors are rewarded with crypto while the creators receive much-needed funding.
This produces three key roles within the Efforce ecosystem - contributors, savers, and consumers.
As discussed in the What is EFFORCE section, WOZX is the driving force behind the project. Only WOZX holders can contribute to energy efficiency projects on EFFORCE. In other words, WOZX is powering the platform’s contribution process.
Before token holders can lock in their tokens, a project must be approved by EFFORCE. Anyone who wants to fund the project can do so by locking in their WOZX tokens. This action grants them access to NFT minting. Once users have NFTs, they can stake them to earn rewards.
It’s important to note that a certain amount of USDC is needed to start minting. The minting process itself takes place a month after the introduction of the project. It’s executed on the Polygon blockchain.
One of the primary goals of the project is to increase energy efficiency on a global scale with the help of blockchain technology. It aims to tackle major issues in the energy efficiency industry.
Most importantly, EFFORCE serves as a sort of advisor to energy-efficient projects.
Who Developed EFFORCE?
The EFFORCE crypto project was launched in late 2020. It’s a blockchain company co-founded by entrepreneurs Steve Wozniak, Jacopo Visetti, Jacopo Vanetti, and Andrea Castiglione.
You might have heard of Steve Wozniak as he co-founded Apple along with his business partner Steve Jobs.
Interestingly, energy efficiency has been something Wozniak has been contemplating since the beginning of Apple itself. In the case of Apple, he contributed to the launch of highly efficient machines that use up less energy.
The rest of the co-founding team includes energy efficiency experts with a myriad of contributions made within the industry.
Don't forget to check the EFFORCE price via the graph above before making purchase decisions.
