Australian energy tech company Powerledger has announced its expansion into the Solana ecosystem, claiming it shares common values with the blockchain network amid wider interest in Regenerative Finance (ReFi).
âAt the heart of both Powerledger and Solana is a shared vision of innovation, sustainability, and transparency â values that are becoming increasingly critical as the world shifts toward ReFi (Regenerative Finance) and sustainability,â a spokesperson for Powerledger told Cointelegraph on Sept. 21.
Powerledger co-founder says âcrypto can be a force for goodâ
ReFi aims to create economic systems that go beyond generating financial returns and focus on restoring and enhancing social, environmental and economic well-being. According to CoinGecko data, the total ReFi market capitalization stands at $110.57 million at the time of publication.
The spokesperson pointed out that the integration is aiming to increase âthe clean energy and sustainability narratives within the blockchain space.â
They further claimed that it is a âsignificant step in aligning financial innovation with planetary well-being.â
Meanwhile, Powerledgerâs co-founder, John Bulich, told Cointelegraph that the firmâs expansion with Solana mainnet not only increases âthe narratives of clean energy within the blockchain space but also underscores that sustainability is a common goal that transcends ecosystems, reinforcing that crypto can be a force for good.â
Powerledger will cease operating SVM blockchain
Powerledger will integrate its products with the Solana Mainnet and cease operating its own Solana Virtual Machine (SVM) blockchain.
Having operated on the SVM blockchain for over 12 months, Powerledger claimed it has âgained valuable expertise on how to make best use of the SVM technology.â
âThis next step in expanding onto Solana mainnet is a key milestone in building on an open and common platform,â it added.
The POWR token will also be available in the Solana ecosystem as a native SPL token while also remaining an ERC-20 token. According to CoinMarketCap data, at the time of publication, POWR is trading at $0.22, up 16.75% since Sept. 14.
Powerledgerâs blockchain-based transactive energy solutions include peer-to-peer energy trading, virtual power plants, and trading in carbon credits and renewable energy certificates (REC).
It comes after the news on Sept. 13 that Worldcoin is launching seamless World ID integration for the Solana blockchain through a new cross-chain protocol from the Wormhole Foundation.Â
According to a Worldcoin blog post, the Wormhole Foundation completed the cross-platform bridge two and a half months after being announced as a Wave1 Community Grants recipient.Â
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