FAQ

ICO (Initial Coin Offering) is a model of crowdfunding that allows us to issue Pylon-Tokens as a representation of ownership in exchange for investment. Each Pylon-Token will entitle its holder to a share of Pylon Network’s pilot generated profit – coming from the renewable power plants and storage infrastructure, funded through Pylon-token sale. This profit is distributed proportionately among all Pylon-Token holders.
Pylon-Token pre-sale starts on 29 Sep 2017 (12:00 CET) until 17 Oct (15:48 CET) –  separated in segments with diferent bonus. The pre-sale (“pre-ICO”) investments will have a  maximum quota – of EUR 190,000-  826,086956521739000000 ETH. Depending on the  segment in which the token purchase occurs, as well as the amount of the investment, the discount rate varies. The highest discount is achieved by participating with the maximum investment (max. quota) AND during the first interval of the pre-ICO. 1st preICO (20%BONUS) has ended: 6 October (20:43 H) • 2nd preICO (10% BONUS) ends in block: 4,358,387 From 6 October (20:44 H) to 12 October (06:16 H) • 3rd preICO (5% BONUS) ends in block: 4,373,933 From 12 October (06:17 H) to 17 October (15:49 H) • ICO main sale (NO BONUS) ends in: 4,484,565 From 17 October (15:50 H) to 25 November (01:45 H) The Pylon-token sale (ICO) starts on 17 Oct 2017 (15:49 CET) – right after the closure of the pre-ICO . The ICO will last until 25 Nov (01:45 CET) and no discounts/bonuses are offered during that period. More info – both for pre-ICO and ICO – can be found on our homepage (scroll down to info about “ICO”).      
The Pylon-Token sale and pre-sale end, if either of the two following conditions are met:  
  1. All tokens are sold. (Hard-cap is reached).
  2. The pre-sale/sale period ends. (See previous FAQ for dates)In total, 3,750,000 Pylon-tokens have been pre-mined on Ethereum. The distribution is as follows:
  • Pre-ICO:                                                             750,000 tokens offered
  • ICO:                                                                 2,500,000 tokens offered
  • Development Team:                                        500,000 tokens (not offered)
The minimum threshold for the successful closure of the token sale and pre-sale rounds is the equivelant of €250.000. This corresponds to a sale of 164.474 Pylon-Tokens (withouth bonuses/discounts). In case the minimum threshold is not reached, the token sale is cancelled and the collected money is returned to the investors. All unsold tokens – from both rounds – are destroyed.
Yes, we are already exchanging data through our very own blockchain (core of Pylon-Coin). We have installed various monitoring points (Metron) and we are monitoring the energy flows at 5 testing points. At the moment, we are developing the test platform to display the received data from the monitoring points. You will soon be able to access and see the information through our website (and of course with the design style and clean environment of Klenergy’s design!) Stay tuned for the future updates.
Yes – depending on the amount of Pylon-Tokens that will be sold. If all 3.25 M tokens are sold then the project includes a 600 kWp PV solar installation and 6 HELIOS energy storage units developed by Klenergy. The different budget scenarios and more info about it can be found in our White Paper (Section 5). In a second stage after the pilot stage, depending on the results and the money supply generated by the Pylon Network, it will be possible to invest using Pylon-Tokens in new renewable projects or recovering old ones.  
First of all, Pylon-Token is the pre-mined token, based on Ethereum that is offered in this preICO and ICO. We have pre-mined 3,750,000 tokens and we are offering 3,250,000 to the public (see other FAQ or White Paper). Therefore, the token is offered to the public ICO, at an initial price of €1.52/Pylon-token (locked to the ETH equivalent on the moment of the ICO launch) and is used to fund the pilot stage. Depending on the amount of coins sold, there are different working packages varying on the scale of participating customers and the renewable generation hardware installation. To summarize, Pylon-token is used as a funding instrument and represents ownership of the pilot project. At the same time the token is free to exchange and its price is determined by the laws of the ‘free market’.   Pylon-Coin, is the digital coin that will be implemented when the Pylon Network goes live during the pilot stage in collaboration with GoiEner Energy Cooperative (Press Release Here: http://pylon-network.org/press-release-goiener-joins-pylon-network.html). The coin will be only used for electricity exchange payments and will only be generated through the “Green Mining” reward system (see FAQ about “Green Miners”).   The development focus during the pilot stage will be on:
  • The optimization of the hybrid Pylon-coin algorithm (PoW/PoC ) in terms of scalability and energy efficiency.
  • The formulation of consensus rules and mechanisms to give a solid structure to the network.
  • The placement of the correct incentives to promote self-consumption rather than investment in energy intensive mining equipment (“Green Mining”).
At the pilot stage the discount for the energy will be minimum. This stage will be used to adjust some aspects regarding the development of the platform for the second stage. Regarding the operation of GoiEner as an energy cooperative, those aspects will be (i) billing integration inside the platform, (ii) Pylon integration inside the accounting system of the cooperative and (iii) easy energy exchange system for all participants (consumer, prosumer, producer and grid distributor).   In the second stage, the way to get cheaper energy will be using PPA (Power Purchase Agreements) with green energy producers. A PPA it’s a long term contract with the producer. The cooperative will close PPAs with producers gradually. The quantity of energy that could be traded through PPA will depend on the size of Pylon Network. The bigger the Network, the more PPA would be possible, using this formula.  
To use Pylon-Coins you will need Klenergy Metron. METRON is a device that first of all, will give users the opportunity to participate and take advantages of Pylon Network; in addition, METRON can help its users in the following ways: • Smart control for home, with personalised advices/alarm to reduce the bills. Up to 30% reduction in electricity consumption. • Real-time monitoring of all electrical appliances with the simple installation of only one device. • Minimal operational costs for data storage and data management (for monitoring of many properties – e.g. energy cooperatives). • Certify where green electricity came from and exactly when it was produced.  
First of all you have to install the Metron at home. It will be your wallet for the Pylon-coins. The Metron will be connected with a mobile App, through which you would be able to easily buy Pylon-coins. Chip-Chap will be at the background for that exchange.  
You will use the App to sell your Pylons through smart contracts. Chip Chap will provide the service at the background.  
The “Green Miners” are federated METRON nodes that are monitoring all green energy produced and are validating the transactions associated with the electricity traded within Pylon Network. They run on the excess renewable electricity produced at periods of the day when it’s sunny or windy. This means two things; on one hand, the fact that they are “federated”, means that the amount, as well as the ownership (and therefore the ‘decentralization’) of the miners, is a controlled, open process with known and approved participants; on the other hand, it means that “Green Miners” are really Green and consist the safeguards of Pylon Network. The Green Miners play also, another important role in Pylon Network. They are the ones that determine the amount and distribution of the newly “printed” Pylon-Coins. Both (the amount and distribution) are based on the amount of green electricity produced – monitored by METRON – and the immaturity of the national energy market regarding the adaptation and the fair rewarding of sustainable energy technologies. Note that Green Miners are not necessarily restricted to grid-connected renewable installations. If appropriate, grid-isolated producers of clean electricity can become Green Miners and in that way, repay his/her investment faster – through the rewards received in Pylon-Coins. This could prove a very useful investment tool for islands and other isolated communities as a way to monetize the energy that – inevitably  goes to waste, due to their isolation.   
The environmental consciousness of Pylon’s Green Miners is manifested by two characteristics: (i) first of all, they rely on the excess electricity production of RE plants, of all scales. This also makes them ideal for isolated RE production sites that are “doomed” to waste some energy if they are to rely 100% on renewable generation (plus storage)  (ii) second, the use of a Proof of Cooperation (PoC) algorithm for validating the transactions in the blockchain ledger, creates a non-competitive environment among the miners (where competition = waste of electricity). We are collaborating with the best developers on the cooperation protocols to ensure that Pylon will keep empowering renewable energy and not consume it!  
  1. Introduction
  2. Create New Account
    1. Go to MyEtherWallet
    2. Create New Wallet
    3. Create Password
    4. Save Your Keystore File
  3. Sending ETH to the Token Sale Address and Buying PYLON Tokens
    1.  Come to http://pylon-network.org/ on September 25Th at 00:00 CET and press “Buy Tokens”
    2. Confirm the Sale’s Terms and Conditions
    3. Choose ETH as payment method.
    4. Confirm the Address of the Sale
    5. Send ETH from Your Ethereum Wallet
  4. How do I see my PYLON Tokens?

1. Introduction

MyEtherWallet is a free open-source tool for securely interacting with the Ethereum network. The following instructions will guide you step by step through setting up a MyEtherWallet and the purchase of Pylon Tokens. Nonetheless, we strongly recommend that participants conduct their own research into the wallet setup process. We make no representations or warranties that the following material is complete or accurate, nor that the MyEtherWallet (or any associated software or services) will be reliable or function as described. As such, participants assume all risks associated with the use of MyEtherWallet (or any other ERC20 wallet) in connection with the token sale.  

2. Create a New Account

If you already have an Ethereum account you can use via MyEtherWallet please jump to the next section – “Sending ETH to the Token Sale Address and Buying Pylon Tokens”. If you need to open an account in MyEtherWallet, please follow these instructions: 2.2 Go to MyEtherWallet Open MyEtherWallet website using the URL https://www.myetherwallet.com using a computer you trust and accessing the site using HTTPS address. Then select the language you want.