Today we begin our journey in the energy market with Ergon: ergon.ustx.io
The first part of the project is live, now every user can save on transactions by renting energy at great rates with the flexibility to chose a duration from 1 day to 7 days. The dynamic pricing will help keeping a high utilization rate.
The second part of the dApp, to earn on TRX deposits, will be open to users in about a week time.
During this time we’ll do some fine tuning of the dynamic price algo and make sure that the system is tested properly.
Check the base price. Depending on duration and USTX balance you may get a discount.
Select the amount of energy to rent (min 250,000) and duration (1-7 days).
Click “Borrow”, a popup will ask for confirmation showing the exact price for the rent.
Also if i read right if you borrow more than 500,000 the smart contract will pay the fees. What fees are we talking about here.?
If the fees is what i am thinking it is, then i know of some energy platforms that pays the fees no matter the amount of energy borrowed. What inspired the team to thread on this path of setting a quota you have to reach to trigger the smart contract to pay the fees.
We’ll be opening to energy providers soon, we’re finishing the UI and testing everything to make sure there are no problems for users (protecting user funds is paramount for us).
When we say that the fees are paid by the contract for orders below 500,000 energy points, we refer to the transaction fees. It does not make a lot of sense to pay energy to rent energy (at least for small orders). We want to be a platform open to small renters, not only big energy users.
Ergon is a fully decentralized energy renting / TRX earning platform, where the resource delegation happens directly in the smart contract, so the energy requirement is a bit higher than most of the other marketplaces, where the energy delegation happens off-chain. We cannot predict how many orders we’ll need to fill daily and it would not be right to give free energy to big orders if some of the small ones will need to pay the fees, so we decided to give priority to smaller orders. The 500,000 energy threshold is a parameter that can be tuned and we’ll gladly increase that value if we can.
Exactly. It’s not straightforward to explain and it’s something related to Stake 2.0. When you rent energy you get the amount you requested (e.g. 250,000), than you use it. Tron energy slowly recovers after use, but it might happen that when the rent expires not all energy was recovered, meaning that you return less than 250,000 energy to the contract. In this case a part of the deposit (corresponding to the energy not recovered) will be held, the rest will be returned. In case you return the full 250,000, you’ll get back the full deposit.
Innovations: Ergon is the first liquid staking option on Tron to use a dynamic exchange rate between TRX and the liquid token (ERG in our case). This greatly simplifies the life of the energy provider, since it completely eliminates the need to claim rewards and compound them. Just HOLD! Ergon is the first energy renting service to feature dynamic pricing, based on energy utilization rate. Ergon is the only liquid staking app that gives up to 100% returns from energy sales to users;
Tech details: Ergon is fully decentralized, all resource delegation operations, TRX staking and voting are done on-chain inside smart contracts. The goal of the dApp is to remove all unnecessary complexity from the user.
Business Model: Users will benefit from energy renting, allowing saving on transaction costs. TRX providers will get a minimum 75% share of the energy sales. The remaining 25% goes to a jackpot reserved for USTX holders. The unclaimed jackpot and 50% of voting rewards go to the team to manage operating expenses.
User Experience: UI has been kept as simple as possible and shares the basic design with all other USTX ecosystem dApps, so that existing users can quickly learn how to use it. To rent energy a few clicks are needed and all information about the cost of the rent are clearly shown to the user.
Use Case: The increase of Tron chain fees have created more demand for energy renting. The existing marketplaces most of the time have unfilled orders. Ergon plans to expand the market offering a complete solution from casual users to energy hungry developers.
Contribution to the ecosystem: Ergon aims to help users reduce the cost of transactions, with a positive impact on all other decentralized applications. A simple and hassle free option for TRX suppliers could improve the overall stake rate, increasing the security of the network. Ergon supports community driven SR.
