Rewards start in April
Full launch incoming
Sol-bank provides lighting and mobile phone charging facilities powered by solar energy to those living in rural communities with unreliable access to energy. In addition, we plan to bring awareness to the Stellar blockchain and cross-border payment systems to the unbanked. Sol-bank users will receive daily SOLS tokens which can be exchanged for other assets on the Stellar Decentralised Exchange (SDEX)
How does it work?
Each Sol-bank owner receives a daily reward based on the average Wh output of the bundled solar panel. e.g. Average hours of sunlight × solar panel watts x 75% = daily watt-hours Based on a 12W solar panel this equates to 9 hours x 12w x 0.75 = 81Wh
We then multiply this by factors of 10 to give an appropriate value/number of SOLS per day.
The incentive of SOLS token rewards can dramatically reduce the cost and time of Sol-bank ownership compared to the current PAYG models used in many off-grid communites
Each Sol-bank purchase/rental will be recorded on the blockchain via our FACT token which automatically updates the figures on solsbank.com
Rewards system for token holders
Holders of SOLS tokens will receive bi-monthly rewards based on their SOLS holdings. 32% of the total supply (2,585,600,000) have been allocated to hodl rewards over a 4 year period.
HODL rewards are automatically calculated and sent as a direct payment every 2 weeks.
Note: Rewards are paid to accounts with balances over 15000 SOLS only.
E.g. 26,933,333 SOLS distributed every 2 weeks Holder A has 4% of circulating SOLS supply, they receive 1,077,333.32 SOLS for that period
Social good Fund
The social good fund aims to help those struggling with poverty closer to home and away.
Each donation will be trackable on the blockchain and will be announced on our blog and social medias. In addition to the fund itself, we will foster the creation of artwork by the Sol-bank communities and turn this artwork into NFT’s on the Stellar blockchain. The creator will receive 80% of the sale proceeds with 20% going into the Social Good Fund
FRED Community Fund
Holders of FRED tokens will benefit from the FRED Community Fund.
This is an eighteen month liquidity fund consisting of SOLS tokens and XLM. After the vesting period expiry, all assets within the fund will be distributed to FRED token holders based on their FRED token holdings.
E.g. If you hold 3% of the circulating supply of FRED, you will receive 3% of the fund
You can support our project by purchasing SOLS tokens on the Stellar DEX or via the Tokens, Donate links in the main menu
Ticker – SOLS
Issuer – GAWTJMZIR4KPCZ7BQZK6QRAJYT6FOIM3YP2MKGWOYHPJYQQOIEJWFRED
Domain – solsbank.com
SOLS tokens are used to fund the project and support the Sol-bank ecosystem
Litepaper can be found at https://solsbank.com