GNL project wants its crypto token to be the source of renewable energy creation | Empirex Capital
 

GNL project wants its crypto token to be the source of renewable energy creation


A blockchain-based project plans to build renewable power projects with funds raised from the ICO.

As the crypto landscape continues to evolve, one clear theme has emerged as a constant – the need to shift towards a world with renewable energy. Green Life Energy Global (GNL) is a project that envisions a future where crypto can be part of the solution.

“GNL is about bringing the blockchain a bit further not just only creating the next big crypto asset, but also changing the whole financial sector on energy and recycling payments,” said the project.

To execute this vision, GNL wants to start with the proceeds from its initial coin offering (ICO). The project claims that it will directly invest 50% of funds raised into building solar power farms, wind farms, and other renewable energy projects across the globe.

For investors, the incentive lies beyond the opportunity to contribute towards the creation of clean energy sources. GNL says that it provides a way for token holders to earn substantial rewards through farming, staking, and static reflection.

An energy token

GNL’s energy token is built on the Binance Smart Chain (BSC). The BEP-20 token is built for payments and has a maximum supply of 500,000,000. The project follows an Automatic LP approach, meaning that every trade contributes towards automatically generating a liquidity pool.

The project will also impose a 5% tax on those that opt to sell their tokens, of which 3% will be awarded to the existing GNL token holders. The remaining 2% will go towards the liquidity pool.

GNL says that its Wallet will allow users to swap between 100 different cryptocurrencies with ease.

The project will also burn 50,000,000 GNL tokens over the course of 74 weeks, after which it will decide if and when to execute more token burns.

The path to a green future

After completing its ICO, the road ahead for GNL includes distributing nonfungible tokens (NFTs), creating a decentralized exchange (DEX) and even its own blockchain. Once its DEX is up and running, token holders can engage in farming and staking to further earn passive income.

To improve its efforts to make the planet greener, GNL plans to form partnerships with renewable energy and recycling companies. The company has already partnered with JDForestry and Envestlab in the U.K., where it plans to build a solar farm within the next year before expanding its renewable energy efforts across the globe.

Aside from wind and solar energy, GNL plans to generate biomass energy – a carbon-neutral organic energy source derived from plants and animals. Once it purchases the required land, GNL said it will increase its renewable energy capacity by planting broadleaf trees and harvesting willows.

Created on 29th Sep 2021

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