Avatu is an emerging provider of energy-related services. Avatu mitigates the issues of a fragile and failing power utility network, inflexibility of renewable power, and high-power consumption costs to consumers through a democratized energy system powered by a token economy.
The Avatu ecosystem is designed to scale with global demand as its network can function
anywhere electricity is generated and consumed. Avatu is designed to enhance
demand-based power generation at a moment’s notice, rewarding Magic Box owners, via the
company’s token economy.
What is the Magic Box?
The Magic Box is an internet connected (IoT) 1kWh battery based on lithium-ion chemistry, designed to discharge at 250Wh for a period of 4 hours.
The Magic Box is at the core of the Avatu platform and is designed for use by residential consumers. Avatu will initially support US-standard 110VAC outlets with eventual, future support for other international voltage and outlet types.
The Magic Box simply plugs into a standard power outlet and is connected to a home’s available wireless network. From there, it will be linked to the Avatu mobile or desktop application, enabling real-time monitoring and allowing its owner to perform energy mining in order to earn tokens. A full explanation of the token economy is provided in later sections of this paper.
Get The Magic Box
Think of Avatu as a network of batteries powered by a blockchain-based infrastructure and token economy.
As more residential consumers acquire and install Magic Boxes in their homes, the combined energy storage capacity increases in a meaningful way. This network, the Avatu Power Bank, becomes a player in the grid ecosystem, along with independent system operators, utility companies, energy traders and energy producers. The aggregate stored power within the Avatu Power Bank becomes useful when existing networks are strained, for example, due to overuse during a heat wave or when power generation is reduced due to inclement weather.
On the other side of the equation, Magic Boxes can be programmed to recharge during times when there is an overcapacity of power on a grid’s network, such as when wind farms are producing at their peak or when solar is generating excess power to the grid. During these times, the cost of electricity is typically at its lowest, while supply is high relative to demand. Thus, Avatu is able to coordinate the recharging of a potentially large citywide, regional or even global network of Magic Boxes when electricity costs are the lowest and deploy stored power when costs are the highest. This arbitrage is a vital piece of revenue generation of the Avatu platform.
Magic Boxes are intelligent IoT devices, controlled by intuitive software. The Avatu platform communicates with the entirety of its deployed Magic Boxes, coordinating the delivery of stored power, when it is needed the most, and with a high degree of precision. Avatu works in a variety of scenarios, from heatwave induced brownouts, to daily time-shifting needs when exacerbating conditions may not be present but standard differentials in energy costs are still available.
Avatu’s business model is based on the ability to deploy stored power, on demand and at a moment’s notice. To assure a high degree of confidence that its deployable power is available and accurate, Avatu will employ a carefully managed decentralized model to ensure uptime and reliability through a proof-of- availability (PoA) consensus algorithm.
Each Magic Box is programmed via firmware to establish a direct link to the Avatu native blockchain layer, called $AVATUChain. From here, each device will regularly report its status from its total charge state to time in use to uptime statistics. Each unit is assigned a unique public identifier and private key in an asymmetric cryptography system, ensuring that each device’s information is recorded to $AVATUChain in a trustless, secure and reliable manner. Magic Box operators are required to secure their deployments with a stake of $AVATU tokens to support the PoA consensus algorithm. Energy miners that continuously report erroneous or malfeasant activity records will be penalized against their $AVATU stake, eliminating the economic incentive to cheat.
To facilitate rapid deployment, and the most efficient path to network activation, $AVATUChain will initially be designed as a private-permissioned network of nodes deployed and operated by the Avatu platform. Over time, we will expand this to a consortium model of decentralized and distributed participants, before opening it up to a public network entirely. The requirement to incentivize node operators for their participation will be supported in our token economic model, However, in its initial centralized deployment model, Avatu will be responsible for network maintenance and the costs for upkeep.
$AVATUChain will be based on Quorum, which represents the benchmark in open-source, Byzantine Fault Tolerant, permissioned blockchain networks.
controllers
As an extension of our blockchain technology, Avatu will pursue the development of Magic Box Controllers that can integrate with existing battery technologies, allowing them to leverage Avatu’s infrastructure. This enables other battery energy storage manufacturers, or currently deployed battery systems, to utilize Avatu’s platform for a fully automated and managed ecosystem. Such battery systems partners can leverage the scale of Avatu’s network and customer base, while also participating in our token ecosystem.
integration
Magic Boxes may optionally include support for LoRaWan wide-area network for compatibility with networks of the same topology, namely Helium network. This offers Magic Boxes the ability to operate in site deployments that may not have nearby WiFi but are within reach of an access point deployed on the Helium network.
Helium Network requires payment for use, however costs are currently minimal, with about .00001 per 24 bytes of data. Helium Network payments are typically made in their native token HNT, however Avatu will create an $AVATU-HNT bridge which will allow Magic Box users to pay network usage fees on Helium using $AVATU token.
Avatu is a low bandwidth, low-data requirement device that only transmits certain information such as current battery state, on and off commands, and other information such as discharge rate, battery health, blockchain ID, etc.
Get The Magic Box
Magic Box Owners
Avatu’s mission is multifaceted. Magic Box owners will derive a consistent revenue stream from their deployment, while at the same time, contributing to the needs of a municipal or regional power grid. Beyond this, the Magic Box will also serve as a robust resiliency solution, providing uninterrupted power to important household devices, such as critical network electronic devices, in the event of a power failure.
In terms of economics, Magic Boxes are more approachable for the end consumer vis a vis other clean power resources, such as solar, or the purchase of an electric vehicle. They are less expensive, are deployed simply by plugging them into standard household outlets, and require connectivity to the internet.
In the future, Avatu may enable energy trading directly between Magic Boxes and controllers, leveraging our existing blockchain infrastructure and token economy to facilitate instant negotiation and payment settlement.
The Avatu token ($AVATU token) is the native token of the Avatu platform. It powers the economics and incentive programs within the platform and is built on the ERC20 standard, enabling compatibility with the latest in DeFi exchanges and protocols. It is also compatible with all ERC20 capable wallets, greatly simplifying its ownership and fungibility.
Initially held by the Avatu treasury, $AVATU tokens are rewarded to owners of Magic Boxes, who have engaged in mining activities via a deployed Magic Box. Additional rewards are earned when the stored energy in the Magic Box is discharged into the grid.
Get The Magic Box
Deployed Magic Boxes make up the Avatu Power Bank, underpinning a functional economic ecosystem that relies on the $AVATU token to facilitate the transfer of value that results from usage of the Magic Box.
Participants in the grid ecosystem include independent system operators, utility companies, energy traders and energy producers, These participants will compete to purchase the right to utilize the stored energy from the Avatu Power Bank, made up of household-installed Magic Boxes, based on their energy demand requirements, typically during peak load times where purchases from energy providers are the most expensive. These purchases can occur on an ad hoc basis or through a bulk usage agreement with Avatu. Even if consumption of energy does not occur, Magic Boxes are monetized for simply being available.
Avatu deposits these payments into its treasury and distributes the requisite amount of $AVATU tokens, per the established algorithm, to the Magic Box owners, completing the cycle.
Participants in the grid ecosystem include independent system operators, utility companies, energy traders and energy producers, These participants will compete to purchase the right to utilize the stored energy from the Avatu Power Bank, made up of household-installed Magic Boxes, based on their energy demand requirements, typically during peak load times where purchases from energy providers are the most expensive. These purchases can occur on an ad hoc basis or through a bulk usage agreement with Avatu. Even if consumption of energy does not occur, Magic Boxes are monetized for simply being available.
Avatu deposits these payments into its treasury and distributes the requisite amount of $AVATU tokens, per the established algorithm, to the Magic Box owners, completing the cycle.
Token Staking
Avatu has created an incentive model for Magic Box owners who also possess $AVATU tokens. During uptime periods, when the Magic Box is capable of deployment, $AVATU token holders who stake their tokens in their $AVATU platform wallet can mine additional $AVATU tokens. The initial mining reward rate will be 100 $AVATU tokens per connected day per 10,000 $AVATU tokens held. A minimum of 10,000 $AVATU tokens must be staked to be eligible for mining rewards. Tokens earned from staking will be minted by the staking contract increasing the number of tokens in circulation and thereby acting as an inflationary mechanism within the protocol.
Want
to be a
grid partner
?
Contact us
