What Is ENREX?

Published on: 23.01.2022

Enrex is the definitive purveyor of the much needed linkage between the regulated environmental and carbon markets and decentralized finance (DeFi). It is a platform which delivers the ultimate promise of easing the transition for crypto businesses to a more eco-friendly trajectory. Moreover, Enrex offers both consumers and financial instrument issuing authorities an easy-to-use application set to deepen their pledge for a greener environment.

Enrex is unique in the carbon markets, because its sole target is the problematic polluting factor coming from the crypto business activities. To that extent, Enrex is prepared to tackle this problem in the most transparent and credible way possible – government mandated environmental instruments and their tokenization.

What blockchain did Enrex choose and why?

Enrex has decided to choose Solana Network as its blockchain architecture provider. Solana introduces a different class of consensus mechanisms for blockchains called proof-of-history (PoH). Being that it is the main invention of Solana, proof-of-history is derived from proof-of-stake protocol architecture. The difference is that PoH utilizes a Verifiable Delay Function which requires validators in the blockchain to solve these functions continuously. A specific sequence of steps are being evaluated. Moreover, Solana employs a turbine of sorts, which lets the blockchain not to cram its peers, but to transmit transaction data in packs to different validators before getting them to the peers. It is the safest and fastest solution for Enrex.

ENREX TOKEN

$ENRX token’s utility holds the options for staking and token burn. This means, $ENRX will be protected against value fluctuations and will gain a steady increase in price. The first users to stake $ENRX will be privy to communal rewards, such as offsetting free by exchanging earned tokens. Moreover, to ensure $ENRX liquidity, every operation within the Enrex ecosystem will be transacted via the $ENRX token.

ENREX APPLICATION

Enrex Exchange
Enrex will launch the first exchange on Solana for CO₂ allowances and renewable energy certificates. The platform acts as a bridge to unlock digital asset services by combining the features of real world assets and modern cryptocurrencies with speed, security and cost savings at the forefront.For traders and trading houses, companies, power plants, brokers.
Enrex DEX v2
Enrex DEX will be fully automated and decentralized DEX for issuing, trading and tokenizing CO₂ allowances and renewable energy certificates for all trading houses and power plants without intermediaries.
ENREX Offsetting
Offset directly using Enrex token (in the following operations) based on your choice of certificate (CO₂ allowances or renewable energy certificate):
•Crypto transactions
•Smart contracts
•ICO/IEO/IDO
•Mining
Enrex decentralised application (dapp) will let you offset your certificates by entering comments to provide the cancellation amount and the cancellation object. The dapp will perform the automation of certificate cancelling in the real world registries and issuing an NFT as a proof of cancellation. All cancellations will be tracked on blockchain and real world registries with proof traceability. Again, dapp is the further step in a proof-of-history architectural style of Enrex’s ecosystem
Tracking Offsets
Users will be able to track all offsets on the blockchain, and it will be available to be accessed and checked by anyone within the Enrex ecosystem. As the CO₂ allowances and renewable energy certificates will be canceled on the OG registry, the link in the chain will be provided to deliver proof of cancellation and the NFT as a proof of ownership.
Environmental API
Enrex environmental API will enable decentralized and real world applications to unlock the mandatory CO₂ allowances and renewable energy certificate market without intermediaries.