As SolarWise approaches its first SolarNFT sale on October 23rd, we’re excited to share key details to ensure you're ready for the big day. Below, we’ve answered some of the most frequently asked questions about SolarNFT ownership, the rewards system, and what you can expect moving forward. For additional information about the solar farm, visit our new SolarNFTs website. A detailed sales information sheet will be published before the sale, so stay tuned!
Why Do I Need to Complete KYC Before Receiving Rewards?
One of the most common questions we get is about the KYC process. While you can purchase a SolarNFT without completing KYC, you must complete this process before the electricity rewards are paid out. This is because SolarWise is required to follow Swiss anti-money laundering (AML) laws as part of our commitment to regulatory compliance. The KYC process helps verify your identity, ensuring transparency and security for all participants. Once completed, you will be able to receive monthly rewards from the electricity generated by the solar panel you own.
What Happens to My Testnet XP Claims?
During our Testnet phase, SolarWise allowed users to claim weekly SUN-XP as a reward for testing features and providing feedback. Once we move to Mainnet, all XP accumulated on Testnet will be recorded. This is exciting news because those who contributed during the Testnet phase will receive a $SUN airdrop when our $SUN token launches after the ICO. We designed this system to reward our early supporters, so your effort and engagement won’t go unnoticed!
Why Did SolarWise Choose VeChain?
SolarWise chose VeChain for its strong focus on sustainability, transparency, and scalability. VeChain’s blockchain offers fast, low-cost transactions and a proven track record of supporting green projects like ours. It aligns perfectly with our mission to drive renewable energy and transparency in the energy market. Additionally, VeChain’s energy consumption is just 0.04%, making it one of the most eco-friendly blockchain platforms. We’re also proud to have received a grant from the VeChain Foundation, which has supported us in accelerating our vision.
What Rewards Will I Receive?
As an owner of a SolarNFT, you’ll be eligible to receive potential monthly rewards from the energy produced by your solar panel. The electricity sales will begin within a maximum of 3 months, and while we wait for the SRO (Self-Regulatory Organization) registration to be completed, rewards will accumulate during this time. We’ve been advised that the SRO process will take a maximum of 3 months. As soon as the SRO registration is complete, all rewards will be paid out in full. Later potential rewards are always paid out monthly.
You can track your rewards in real-time using the DApp once the electricity is being produced and sold. This ensures transparency, so you can monitor the energy production tied to your SolarNFT.
Our lawyer made an excellent point about the timeline—while 2-3 months might feel long, consider that people buy NFTs and sometimes wait years for the product/service to be ready. In comparison, we are already up and running with a completed solar farm.
We can start with weekly $B3TR airdrops from VeBetterDAO immediately, unaffected by SRO regulations, while energy returns will begin accumulating in about 3 months, giving you rewards from two separate streams. For the first two weeks after the sale, all NFT holders will receive equal $B3TR rewards. Once staking contracts are introduced, additional $B3TR tokens can be earned based on your engagement and the CO2 savings from your panel..
What About the 10% Markup?
The price of each SolarNFT includes a 10% markup, bringing the total to $387.2 USD. It’s important to note that when calculating your potential returns, you should base your calculations on the price excluding the markup = use for calculation $352. The markup ensures SolarWise can cover the operational costs of running the project, but it doesn’t factor into the rewards calculation, which is based on the solar farm’s performance. This way, your rewards accurately reflect the actual energy production of the solar panel.
Are Real-World Assets (SolarNFTs) Subject to VAT?
Yes, since SolarNFTs represent ownership of a physical solar panel, they are subject to Value Added Tax (VAT). The VAT you’ll need to pay will depend on the tax regulations of your country. If we sell more than €10,000 worth of NFTs to EU citizens, for instance, we’ll be required to apply VAT. Please review the VAT section in our Terms and Conditions for more detailed information. This requirement underlines the seriousness of the real-world asset transfer that SolarWise facilitates.
Who Owns the Solar Panel?
When you purchase a SolarNFT, you legally own the corresponding solar panel under Swiss property law. This ensures that your ownership is recognized and protected. Owning a SolarNFT is more than just a digital asset; it’s ownership of a tangible, real-world energy-producing asset.
What Happens After 20 Years?
At SolarWise, we take sustainability seriously. That’s why, after the solar farm’s 20-year operational life, we will handle the proper recycling of all components in accordance with environmental standards. This commitment ensures that even after the solar panels have completed their energy production lifecycle, they will be responsibly recycled, minimizing environmental impact.
Why Should I Buy a SolarNFT Now?
By purchasing a SolarNFT during our initial sale, you’ll gain early access to weekly $B3TR airdrops from VeBetterDAO, helping you maximize your rewards faster. As this is our first collection, only 200 NFTs will be available. This limited supply means that those who buy early will benefit from exclusive incentives that won’t be available in future collections. Furthermore, as soon as the solar farm is connected to the grid, your $VET rewards will start accumulating. These rewards will be stored and fully trackable in your DApp, ready for distribution once we complete our SRO registration.
More Information
For more details about the solar farm and our NFT sale, visit our new SolarNFT webpage. A sales information sheet will be published before the sale, so stay tuned!
If you have any additional questions, don’t hesitate to reach out to us via our social media channels or join our upcoming AMA.
Set reminder for October 23rd
Thank you for all your support on this journey!
The Siblings - Bianca & Ronnie
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