DeCharge Partners with Credible Finance to tokenize EV infrastructure
DeCharge Overview - July 11, 2024
Welcome to the DeCharge Overview.
DeCharge is a protocol focused on supporting the electric vehicle (EV) charging network through DePIN technology and other web3 functionalities and elements like tokenization and real world assets. It also won second place in Colosseum’s Solana 2024 Renaissance Hackathon for the DePIN category and qualified as one of the top 10 teams in the Colosseum cohort (more details on that below.)
We’re building the best place for the budding DeCharge and DePIN community to get up to speed on its latest updates, metrics, releases, insights, ecosystem developments and more – all in one place.
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DeCharge DePIN by the numbers
Locations with deployed EV chargers: 151
With ~300 locations in the pipeline
Minutes of charging EVs: Over 21,560
Repeat customers: 67%
These metrics are accurate upon publication.
⚡Debriefing with DeCharge⚡
As many startups continue to think about sustainability and innovation, DeCharge’s newly established EV and DePIN-focused protocol is partnering with Credible Finance, a DeFi protocol backed by Outlier Ventures.
The collaboration marks a significant milestone for DeCharge as it integrates real world assets (RWA) with DePIN, aiming to advance global sustainability goals while integrating financial incentives.
Credible Finance specializes in the formal verification of revenue-generating RWAs, ensuring robust pricing mechanisms and transparency. The partnership provides retail investors the ability to participate in funding crucial EV infrastructure projects by tokenizing assets on the Solana blockchain.
As part of this initiative, DeCharge and Credible Finance will launch a tokenized asset pool dedicated to EV infrastructure. The pool will include 35 electric vehicles and 70 charging stations, creating an opportunity for investors to support and benefit from the growth of sustainable transportation solutions, while also reaping benefits.
This partnership points to a sector of startups harnessing blockchain technology to power global sustainability.
This collaboration not only helps pioneer the tokenization of tangible assets, but also could open the door to new standards for sustainable investing. It also leverages Solana’s chain infrastructure of fast throughput, which enables efficient and transparent transactions; in addition to empowering individuals to contribute to environmental initiatives while earning potential returns.
Interested in learning more about how you can participate in this pioneering initiative?
Follow DeCharge and Credible Finance and visit DeCharge’s website here to explore opportunities in sustainable investing and decentralized finance.
Highlighting its DePIN Ecosystem
DeCharge graduated from Colosseum 🎓
The most recent cohort from the Solana-focused hackathon Colosseum has graduated. DeCharge was one of ten projects in the group’s accelerator program, chosen out of thousands of participants and projects in Colosseum’s Solana Renaissance Hackathon.
DeCharge ranked as one of the top Solana DePIN projects. For about a year, the team has been building and focusing on expanding the EV charging infrastructure to meet global sustainability goals. The team has begun fundraising to scale its EV chargers over 6,500%, from about 150 to 10,000 chargers, across India and the APAC region in the span of 18 months.
Colosseum’s demo day was attended by over 100 venture capital firms, which brought a number of active intros to investors looking to invest in founders in the early stages of their product development.
Matty Taylor, Colosseum’s co-founder and GP, went on the Talking Tokens podcast to discuss projects from the most recent hackathon and discussed DeCharge and the importance of DePIN. Listen in here.
Community deployment
DeCharge scaled to about 150 locations in its first sprint with local businesses and stakeholders.
Now it’s expanding to community enthusiasts with a “Stake, Deploy & Earn” program for co-deploying across the globe, starting with India.
Check out the community interest form for enthusiastic “City Captains,” or individuals looking to partner with the team and expand the charging infrastructure network. For more details, visit its latest blog post diving into its Community Deployment Program.
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.