ENEDEX: DeFi and Renewable Energy
Decentralized exchange ENEDEX is the next evolution of quantum-proof, cross-chain energy trading built on Polkadot, Moonbeam, and DCore for trading traditional and future energy products.
Renewable energy is useful energy that is collected from renewable resources which are naturally replenished on a human timescale. These include carbon-neutral sources like sunlight, wind, rain, tides, waves, and geothermal heat. Renewable energy is expected to make up more than 30 percent of the world’s energy by 2024, according to the International Energy Agency. Renewable energy has never been a more important point of discussion than it is today. In the Paris Climate Agreement, 195 countries signed a legally binding agreement to keep global warming well below 2°C — an ambitious goal that will require the economies around the globe to decarbonize large parts of the world’s energy system.
Is 100% renewable energy possible?
First, we have to address the problems of global warming, health effects, and sustainability of fossil fuel dependency. For this to happen, consumers, governments, and industries need to work together to optimize the use of sustainable and renewable energy sources. The use of renewable energy is rising globally. While the statistics are encouraging, more work needs to be done before we have a realistic chance to achieve carbon neutrality.
While some hold a skeptical view, it is possible for the world to run on renewable energy sources, but it is going to take time. Some countries will adapt to the energy transformation faster than others. However, studies have shown that even fossil fuel-dependent countries like Saudi Arabia can transition to a 100% renewable energy system by 2040. Because of the geographical location of the country, Saudi Arabia has an abundance of sun hours which means it would be easier for them, compared to others, to switch to solar power than for example, a country like Denmark or Norway.
The renewable energy sources that have the lowest carbon intensity are hydro, solar, and wind power. All three have advantages and disadvantages. For example, hydropower is heavily dependent on location and access to a water source. Solar panels can’t generate energy when it’s dark, and wind turbines bring their own challenges related to recycling and the heavy use of lubricants. Despite these issues, the advantages these sources bring together with the continued development of innovative technologies have brought a reliable and suitable alternative replacing fossil fuel for power production.
The Importance of a Cleaner Environment
There are countless reasons why access to clean energy is important, but here are some obvious ones:
Covid has given us a bitter taste of what life could look like in the future if we don’t take immediate action. The World Health Organization estimates that approximately 7 million people die every year due to respiratory diseases caused by air pollution. Clean energy will improve global health.
Fewer Floods and Droughts
Climate change is causing floods and droughts, damaging nature reserves, forests, and thousands of homes every year rendering people homeless and injured. Extreme weather has impacted the lives of people on the planet in the last years more than ever before.
Fight Against Economic Inequality
There are millions of households that have limited access to electricity. Renewable energy could help solve this problem and enable economic growth in rural areas and local economies where solar and wind energy could easily be provided. Clean energy sources could create jobs and provide a steadier source of income.
$ENE, DeFi and Trading
Economic viability plays an important role for renewable energy to have a long-term and lasting impact. Today, the trading of energy commodities takes place mainly in the wholesale markets where only a relatively small group of energy traders participate. Most volume in energy commodities is currently traded through brokers in the OTC market or on heavily centralized exchanges like the Intercontinental Exchange (ICE) and New York Mercantile Exchange (NYMEX) that are not accessible by everyone. The $ENE is solving that by providing decentralized access to energy trading for all with the goal to accelerate the energy transition towards renewable energy for a cleaner and sustainable environment.
The ENEDEX platform seeks to leverage the innovation in crypto and provide an opportunity to DeFi developers to join the energy transition revolution through new initiatives creating markets for products that represent the future energy markets. ENEDEX decentralizes crypto-enabled futures and options trading in emerging energy themes like renewable power, biofuels, hydrogen, and others. Building on the strong fundamentals of the DCore Blockchain, ENEDEX will be implementing technologies of Polkadot and Moonbeam on top of DCore to offer near gas-less fees, removing expensive traditional middlemen. ENEDEX is poised to revolutionize energy trading by democratizing energy trading through the offer of products that enable fractional volumes at minimal costs and near-immediate settlement in a decentralized environment. ENEDEX is a DEX for trading and a platform for sustainable energy start-ups to raise capital and list their tokens in a decentralized and interoperable environment. ENEDEX revolutionizes a crypto-enabled energy market and provides access to all market participants without any limitations on location, size, background, or ambition.
Join the energy revolution! Private Sale has officially started, visit www.enedex.org to register!
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