Singapore, March 01, 2024 (GLOBE NEWSWIRE) -- The emergence of Decentralized Physical Infrastructure Networks (DePIN) is catalyzing a paradigm shift in the way physical infrastructures are conceptualized, built, and operated. According to Messari, this cutting-edge technology is set to boost the global economy by adding $10 trillion over the next decade and the DePIN sector is projected to reach $3.5 trillion by 2028. Starpower is standing at the forefront of this innovation. It represents not just a new project but a grand vision to transform how we utilize energy, inspired by industry giants like Tesla.
QUICK TAKE
1. The early success story of Helium Mobile has demonstrated the profitability and potential of DePIN in these technological innovations.
2. DePIN Starpower has recently celebrated significant achievements with the launch of its 'Pioneer Pass' NFT free mint, achieving over 7777 SOL in trading volume and experiencing a price surge to 70 times profit in just one day.
DePIN: Six core business sectors
Starpower at ETH Denver 2024
Starpower: The Uber of Energy Network
Starpower wants to make using energy as easy as using Uber, by connecting energy devices all over the world with something called Virtual Power Plants (VPPs). Elon Musk predicts that the global energy market will exceed ten trillion dollars. This prediction along with the expected annual growth rate of over 30% for VPPs, highlights the significance of Starpower's mission.
An illustration of Starpower Virtual Power Plant
Starpower's solution is to create a comprehensive Virtual Power Plant, powered by people. This initiative involves connecting household appliances to source of clean energy production and large-scale storage via the Starpower infrastructure network. The aim is to foster efficient energy trade and management, optimizing resource allocation, and potentially enabling the large-scale adoption of renewable resources.
Overcoming Traditional VPP Challenges
Traditional virtual power plants (VPPs) face several challenges, from limited participant incentives to complex participation structures and inconsistent compensation models. Leveraging the DePIN model, Starpower tackles these challenges by enabling user participation through smart energy sockets, such as the Starplug and the upcoming Starbattery in 2024. This approach simplifies user participation by lowering entry barriers while also offering rewarding $STAR tokens for everyone.
Visionary Founders and Supportive Backers
The brains behind Starpower are co-founded by industry expert Laser Ding and Dr. Darcy Jia. Laser Ding previously served as an assistant to the chairman at HashKey Group, while Dr. Darcy Jia boasts extensive experience in the photovoltaic sector and holds a PhD in Photovoltaics. Supported by prominent investors from Escape Velocity, IoTeX, Bas1s, Fenbushi, HashKey Capital, Helium Foundation, Solana Foundation, Arweave, and more.
$STAR Tokenomics
Starpower's token distribution is organized into six key categories. Most tokens are allocated to builders for network development. The core team and investors each hold 15% of the tokens, demonstrating their commitment and supporting future expenses. The foundation receives 7% for ongoing project management, with further tokens set aside for climate action donations and community airdrops
Starpower Tokenomics $STAR
How Can Users Participate?
Users can participate in Starpower from any location, as long as they have the starplug device with access to electrical devices. By connecting their devices to the network via Starpower's hardware and software, users earn $STAR rewards. Rewards will be based on connection duration, electricity usage, and device response (e.g., air conditioners, water heaters, refrigerators).
The ways to connect to Starpower are as follows:
1. ARM TEE-based Smart Plugs: Users can purchase Starpower's starplug or use a compatible third-party smart plug approved by Starpower to connect their electrical devices to the network.
2. Future Developments: Starpower plans to expand its connectivity solutions to include additional devices, such as thermostats and energy storage batteries in 2024.
"Virtual power plants maximize the use of renewable sources like solar energy, which is essential for the future energy landscape." by Prof. Martin Green
What’s Next?
Next, Starpower will continue to benefit from the support and participation of industry tech partners, such as collaborations with Arweave to explore DePIN projects and promote eco-friendly actions, as well as discussions on the development and future of DePIN with IoTeX.
Starpower is transforming the way we manage energy, making it user-friendly and beneficial for people. Their efforts are not revolutionizing the energy sector but also building a more inclusive, efficient, and eco-friendly future.
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
