SolarCoin

Energy-Backed Cryptocurrency

Cryptocurrency rewarding solar energy producers at 1 SolarCoin per 1 MWh of verified solar electricity production. Issuance directly tied to real-world energy output.

Type	Energy-Backed Cryptocurrency
Region	Global
Status	Active
Links	Website

M69 Score

M69 Alignment2.5

Weakly aligned

1.02.03.04.05.0

Monetary Sovereignty2.5

Issuance (3x) + Stability (2x) + Fiat Indep. (2x)

Civilizational Durability2.3

Sovereignty + Governance + Resilience

Universal Adoption2.8

Traction (2x) + Inclusivity

Iss Mod3x

3.0

Stability2x

1.0

Fia Ind & Int2x

3.3

Traction2x

2.6

Sovereignty

2.2

Governance

2.2

Resilience

2.4

Inclusivity

3.3

Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.

Key Findings

Issuance Model is SolarCoin's strongest conceptual contribution (3.0/5.0)because the 1 SLR = 1 MWh formula directly ties monetary issuance to verified real-world economic activity (solar energy production) without any debt mechanism -- a rare design that closely matches M69's vision of money created through productive activity rather than borrowing.

Spending Power Stability is the weakest score (1.0/5.0)because SolarCoin has zero stability mechanism, no benchmark, no targeting, and extreme price volatility (600%+ range in 2025 alone). Despite the energy-backed issuance concept, the token functions as a free-floating speculative asset with no purchasing power preservation.

Sovereignty and Governance are both low (2.2/5.0 each)because the 2021 migration to Energy Web Chain's proof-of-authority consensus and the Foundation's control over grant issuance, cold-storage keys, and monetary policy changes (SIP 27) create significant single points of failure and capture risk that contradict M69's vision of state-free, neutral money.

A fundamental tension exists between SolarCoin's reward-token design and monetary system aspirations.SolarCoin functions primarily as a loyalty reward for solar producers (like airline miles for solar energy) rather than as an independent monetary system. It is not used as a unit of account, has no merchant adoption, and is almost always immediately converted to fiat -- making it more of an environmental incentive program than a currency.

Institutional recognition is disproportionately strong relative to actual adoption.IRENA recognition, United Nations acknowledgment, Forbes coverage, and Columbia Business School research give SolarCoin institutional credibility that far exceeds its on-the-ground monetary impact ($3.8M market cap, $1,800 daily volume, ~5,500 claimants). This suggests the narrative is more mature than the product.

For M69 alignment, SolarCoin demonstrates that tying issuance to real economic activity is achievable but insufficient.The project proves the concept of energy-referenced money but fails to build the monetary infrastructure (stability, sovereignty, governance, adoption) needed to make that concept useful as actual money. Investors and partners should view SolarCoin as a successful proof-of-concept for energy-backed issuance, not as a deployable monetary alternative.

Detailed Rating Breakdown

Framework v0.2-alpha · Rated 2026-04-10

SolarCoin (SLR) is a cryptocurrency launched in 2014 by co-founders Nick Gogerty and Christopher Altman, designed to incentivize solar energy production by granting 1 SolarCoin per 1 MWh of verified solar electricity generation. Originally a Litecoin fork using Scrypt proof-of-work, SolarCoin transitioned to proof-of-stake-time (PoST) in 2014, and in March 2021 migrated to the Energy Web Chain as an ERC-20 token operating under proof-of-authority (PoA) consensus. The SolarCoin Foundation is a US Public Benefit Corporation (PBC) registered in Delaware, and the project has been recognized by the International Renewable Energy Agency (IRENA) and the United Nations as the lowest-carbon currency and the largest private renewable energy project in the world. From an M69 alignment perspective, SolarCoin's issuance model is its most distinctive feature: supply creation is directly tied to verified real-world solar energy production, making it one of the few cryptocurrencies where issuance reflects measurable economic activity. The project is debt-free and its 1 SLR = 1 MWh formula provides a concrete, energy-referenced unit. However, SolarCoin's migration to the Energy Web Chain's proof-of-authority model has introduced significant centralization. The Foundation controls the grant issuance process, requiring claimants to submit verified energy certificates for review. The PoA consensus relies on pre-approved institutional validators managed by the Energy Web Foundation, not by SolarCoin participants. This creates multiple single points of failure and custodial dependencies that undermine sovereignty. SolarCoin's practical adoption remains modest despite operating across 73 countries with approximately 5,500 claimants (as of 2021 data). With a market cap of roughly $3.8 million, 24-hour trading volume under $2,000, and trading limited to a single Uniswap v3 pair, the project lacks the liquidity and merchant adoption needed for genuine monetary function. The token has no spending-power stability mechanism, no benchmark targeting, and extreme historical price volatility. While the energy-backed issuance narrative is philosophically interesting and the 40-year supply design shows long-term thinking, SolarCoin functions more as a loyalty reward for solar producers than as an independent monetary system.

Issuance Model3x

3.0

Code	Question	Score
IM-01	Is issuance permissionless?Issuance requires claimants to register their solar installation with the SolarCoin Foundation and submit third-party verified energy generation certificates. Claims are reviewed by the Foundation before grants are issued. This is a permissioned, rule-based system with a defined set of qualifying issuers (solar producers), not open to arbitrary participation. [1][2]	3
IM-02	Is new supply created through debt?No debt mechanism whatsoever. SolarCoins are granted as free rewards for verified solar energy production. There is no borrowing, collateralization, or credit involved in the issuance process. The 98 billion pre-mined supply sits in cold storage and is released upon energy verification. [1][2]	5
IM-03	Is issuance tied to measurable real-world economic activity?SolarCoin issuance is directly tied to verified solar energy production at a rate of 1 SLR per 1 MWh. Generation is verified through third-party energy certificates (SRECs or equivalent). This is a partially linked model since verification involves human input and Foundation review, but the underlying signal is genuinely real-economy. [1][2]	3
IM-04	Does the issuance model have a supply cap or hard ceiling?Hard cap of 98.1 billion SLR, designed to last 40 years of solar energy growth. SIP 27 proposed reducing the non-circulating base from 98 to 10 billion. The supply does not expand or contract with economic demand -- it is a fixed allocation released over time based on energy production claims. This represents a fixed supply with no mechanism to respond to economic demand. [1][2]	2
IM-05	Can supply contract (burn/redemption) as well as expand?No contraction mechanism exists. SolarCoins are minted upon energy verification and enter permanent circulation. There is no burn, redemption, or expiration mechanism. Supply is monotonically increasing as more solar energy is produced and verified. [1][2]	2

Spending Power Stability2x

1.0

Code	Question	Score
SPS-01	What mechanism does the protocol use to target spending power stability?No stability targeting mechanism exists. SolarCoin's value floats freely on the market. The 1 SLR = 1 MWh formula defines issuance, not price stability. There is no rebase, rate adjustment, or algorithmic stabilization. Price is determined entirely by supply and demand on exchanges. [1][2]	1
SPS-02	What benchmark is used to measure spending power?No benchmark is used to measure or target spending power. SolarCoin does not reference any price index, commodity basket, or real-economy measure for stability purposes. The 1 MWh denomination is an issuance reference, not a spending power target. [1][2]	1
SPS-03	How transparent and verifiable is the stability measurement?No stability measurement exists to be transparent about. The energy generation data underlying issuance is verified through third-party certificates, but this relates to issuance, not price stability. [1]	1
SPS-04	What is the protocol's historical deviation from its stability target?No stability target exists. SLR has experienced extreme volatility throughout its history, with the price fluctuating from lows of $0.01 to highs near $0.07 within 2025 alone -- a range of roughly 600%. The token has no mechanism to dampen these swings. [1][2]	1
SPS-05	Does the protocol distinguish between short-term volatility and long-term purchasing power drift?No distinction made. SolarCoin's design does not address either short-term volatility or long-term purchasing power drift. The 1 MWh denomination provides an energy reference but does not operationalize any stability mechanism. Neither concept is addressed in protocol design. [1][2]	1
SPS-06	Is the stability mechanism accessible globally?No stability mechanism exists. SolarCoin is tradeable globally on Uniswap v3 and accessible via MetaMask on Energy Web Chain, but since there is no stability mechanism, the question is moot. Scored at floor. [1][2]	1

Fiat Independence & Interoperability2x

3.3

Code	Question	Score
FI-01	What is the protocol's unit of account?SLR (SolarCoin) is denominated as 1 SLR = 1 MWh of solar energy, which is a sovereign energy-referenced unit. However, on exchanges SLR is quoted against USD (Uniswap USDC pair), and the Foundation and community consistently reference fiat value. The unit is conceptually sovereign but practically quoted in fiat. [1][2]	4
FI-02	What is the fiat composition of the protocol's collateral or reserves?SolarCoin has no fiat collateral or reserves. The 98 billion pre-mined tokens sit in cold storage and are released upon energy verification. The backing is conceptually solar energy production, not fiat assets. Zero fiat exposure in reserves. [1][2]	5
FI-03	Does the protocol depend on fiat banking infrastructure to function?The core grant issuance process does not require banking. However, the SolarCoin Foundation PBC is a US-registered entity that likely maintains bank accounts for operations. The token trades on Uniswap against USDC. Core protocol can function without banking but the Foundation has some banking relationships. [1][2]	4
FI-04	Are the protocol's price feeds and oracles fiat-denominated?SolarCoin does not use on-chain price feeds or oracles for its core mechanism. The energy generation data comes from third-party monitoring platforms (e.g., SMA Sunny Portal), not from price oracles. Market pricing on Uniswap is against USDC (fiat-denominated). [1][2]	3
FI-05	What happens to the protocol if the primary fiat currency it references collapses or depegs?SolarCoin does not reference a specific fiat currency in its core mechanism. A fiat collapse would affect exchange liquidity (trading against USDC) but not the grant issuance process itself. The Foundation's operational viability as a US PBC could be affected by USD instability. [1][2]	4
FI-06	Does the project have a credible transition path from fiat-dominated adoption to fiat-independent operation?No transition plan documented. SolarCoin's primary value proposition is as an additional incentive layer on top of existing solar economics, which are denominated in fiat. The project does not articulate a path toward becoming fiat-independent. Fiat integration is treated as permanent context. [1][2]	2
FI-07	Can local or sectoral currencies be denominated in or settle against this currency?No local currency composability exists. SolarCoin is a single-token system with no mechanism for local expression or sub-currency issuance. No local currencies have been built on the SolarCoin standard. [1][2]	1
FI-08	Does the protocol define open standards for interoperability with other monetary systems?No protocol-specific interoperability standard exists. SolarCoin operates as an ERC-20 token on the Energy Web Chain, enabling generic crypto interoperability via Uniswap and standard Ethereum tooling. However, no monetary interoperability protocol is defined for cross-system settlement. [1][2]	3

Traction2x

2.6

Code	Question	Score
TR-01	Is the project still active?SolarCoin is active and operational. The website is maintained, the claims portal functions, grants continue to be issued on the Energy Web Chain, and the Foundation continues operations. Trading occurs on Uniswap. However, growth appears slow and the project is in a steady-state rather than growth phase. [1][2][3]	4
TR-02	How long has the project been in existence?Launched in 2014 by Nick Gogerty and Christopher Altman. Over 12 years of continuous existence as of April 2026. [1][2]	5
TR-03	How many active users does the project have?Approximately 5,514 claimants registered as of 2021 data, across 73 countries. The SMA Sunny Portal integration potentially exposes 260,000 users, but actual SolarCoin claimants are in the low thousands. 24-hour trading volume is under $2,000, suggesting very few active traders. [1][2]	2
TR-04	How many businesses or organizations accept the project's currency?Solar industry companies are encouraged to accept SolarCoins at the current exchange rate, but no evidence of significant merchant adoption exists. SolarCoin functions primarily as a reward token that is exchanged for fiat on Uniswap rather than spent at merchants. [1][2]	1
TR-05	Is the currency used as a unit of account?SolarCoin's 1 SLR = 1 MWh formula provides a denomination reference within the claims system. However, no external prices, contracts, or wages are denominated in SLR. The token is always quoted as a fiat amount on exchanges. The MWh denomination is an issuance metric, not a unit of account in commercial use. [1][2]	2
TR-06	Is the founder or core team still actively working on the project?Co-founder Nick Gogerty has moved on to Carbon Finance Labs as Managing Director. The SolarCoin Foundation continues operations with staff (reported 7 employees) and has added new ambassadors. François Sonnet and other volunteers remain active, but original co-founders have stepped back. [1][2]	3
TR-07	What partner organizations or institutions support or integrate the project?IRENA Coalition for Action member, United Nations recognition, SMA Sunny Portal integration (260,000 users), ElectriCChain as affiliated nonprofit, The Sun Exchange partnership, Optimum Tracker partnership. Multiple institutional relationships across energy sector. [1][2]	4
TR-08	Is the project covered or recognized by credible external sources?Featured in Forbes, recognized by IRENA and the United Nations, covered by PV Tech and other energy publications, featured in 100+ publications across 30 countries. Academic papers on SSRN including Columbia Business School research. Significant institutional recognition. [1][2]	5
TR-09	Is adoption organic -- not dependent on subsidies, incentives, or mandates?SolarCoin is inherently an incentive: free tokens granted for solar production. This is literally an incentive-driven adoption model. Solar producers claim SLR as an additional reward. However, since the incentive supplements existing solar economics rather than replacing market signals, and producers generate solar energy for its own value regardless of SolarCoin, the adoption of solar energy itself is organic while SolarCoin participation is incentive-driven. [1][2]	2
TR-10	What is the growth trend over the past 12 months?Price increased from ~$0.01 low in April 2025 to ~$0.058 in April 2026, a significant price recovery. However, trading volume remains extremely thin ($1,800/day), market cap is only $3.8M, and there is no evidence of significant new partnerships or user growth in recent months. Price appreciation without volume or adoption growth. [1][2]	2
TR-11	Does the project have a coherent narrative and cultural identity that drives long-term commitment?Strong founding narrative linking cryptocurrency to solar energy transition and environmental sustainability. Recognized by UN and IRENA, which reinforces institutional credibility. The "1 MWh = 1 SLR" formula is simple and memorable. However, the community is small and engagement is primarily transactional (claiming free tokens). Cultural identity is tied to environmentalism rather than monetary sovereignty. [1][2]	3

Sovereignty

2.2

Code	Question	Score
SO-01	Can any single entity shut down the project?The SolarCoin Foundation PBC controls the grant issuance process and the cold-storage of pre-mined tokens. The Energy Web Foundation controls the PoA validators on the underlying chain. Either entity's shutdown would critically impair SolarCoin. The Foundation is a US-registered PBC subject to US jurisdiction. [1][2]	2
SO-02	Is the project's core infrastructure permissionless and self-hostable?The original SolarCoin blockchain code is open-source on GitHub (MIT license). However, since the 2021 migration, SolarCoin operates as an ERC-20 token on the Energy Web Chain, which uses proof-of-authority with permissioned validators. Users cannot run their own PoA validators. The claims system is centralized through the Foundation. [1][2]	2
SO-03	Is the project subject to the jurisdiction of a single nation-state?The SolarCoin Foundation PBC is registered in Delaware, USA (Greenwich, Connecticut). While claimants span 73 countries, the central grant-issuing entity is US-based and subject to US law. Regulatory action in the US could materially impair the project's core function. [1][2]	2
SO-04	Does the project control or custody user funds?Once SolarCoins are granted to a claimant's MetaMask or ERC-20 wallet, they are fully in the user's custody. However, 98 billion pre-mined tokens are held in Foundation cold storage, and the SMA Sunny Portal offers custodial holding for users who do not yet have wallets. The core post-grant experience is non-custodial. [1][2]	4
SO-05	Is the project resilient to key-person risk?Co-founder Nick Gogerty has stepped back to Carbon Finance Labs. The Foundation continues with reported 7 employees and new ambassadors. However, knowledge of the grant issuance infrastructure and cold-storage keys is likely concentrated among a small number of people. The project has survived founder transition, which is positive. [1][2]	3
SO-06	Does the project depend on any third-party service that could be revoked?Critical dependency on the Energy Web Chain (run by Energy Web Foundation) for token operations. Dependency on SMA Sunny Portal and other monitoring platforms for energy verification. Dependency on Uniswap v3 for the sole trading venue. Multiple third-party dependencies, each of which could be revoked. [1][2]	2
SO-07	Can the project be censored -- can specific users or transactions be blocked?The Energy Web Chain's PoA consensus means validators (pre-approved institutions) could theoretically censor transactions. The ERC-20 contract could have admin functions. The Foundation controls grant issuance and could deny claims. This is structurally more censorable than a permissionless blockchain. [1][2]	2
SO-08	Does the protocol protect transaction privacy as a monetary right?SolarCoin on Energy Web Chain is pseudonymous like any ERC-20 token -- transaction history is public on the blockchain. No enhanced privacy features exist. The claims process requires identifying information (solar installation details, energy certificates), linking real-world identity to wallet addresses. [1][2]	2
SO-09	Does the technology enforce the project's monetary rules such that governance cannot silently override them?The 1 SLR = 1 MWh grant rate and the 98 billion supply cap are Foundation policies, not immutable smart contract constraints. The Foundation demonstrated willingness to change monetary policy via SIP 27 (proposing to reduce supply from 98B to 10B). The ERC-20 contract on Energy Web Chain could potentially be upgraded. Monetary rules are policy documents rather than cryptographic guarantees. [1][2]	2

Governance

2.2

Code	Question	Score
GO-01	How are decisions about the project made?Decisions are made by the SolarCoin Foundation team. SIP proposals (e.g., SIP 27) provide a mechanism for community input on monetary policy, but the Foundation retains decision-making authority. Governance is informal with occasional community consultation. [1][2]	2
GO-02	Who has voting or decision-making power, and how is that power distributed?Decision power is held by the SolarCoin Foundation team and board. No on-chain voting exists. SIP proposals invite community feedback but the Foundation makes final decisions. Power is concentrated among a small group of Foundation insiders. [1][2]	2
GO-03	Is the governance process -- and the monetary mechanism itself -- transparent and publicly auditable?The 1 SLR = 1 MWh issuance rule is publicly documented. SIP proposals are published on Medium for community review. The ERC-20 token contract is visible on the Energy Web Chain explorer. However, the claims verification process, Foundation decision-making, and cold-storage management are opaque. Partially transparent. [1][2]	3
GO-04	Can governance be captured by a small group or hostile actor?Governance is already controlled by the Foundation -- a small team of 7 employees. Since the Foundation holds the cold-storage keys to the unminted supply, capture of the Foundation would give control over the monetary system. There is no on-chain governance to resist capture. [1][2]	2
GO-05	How are upgrades and changes to the protocol or project proposed and executed?SIP (SolarCoin Improvement Proposal) process exists for major changes, with proposals published on Medium for community discussion. The blockchain migration from own chain to Energy Web Chain was executed by Foundation decision. Proposals are discussed publicly but execution is controlled by the Foundation. [1][2]	3
GO-06	Is there a separation between governance over monetary policy and governance over operational decisions?The SIP process distinguishes monetary policy changes (SIP 27 on supply) from operational decisions, but both ultimately rest with the same Foundation team. No formal separation exists. The Foundation can change monetary policy and operational parameters through the same informal process. [1][2]	2
GO-07	Does the project have a constitution, charter, or set of immutable principles?The 1 SLR = 1 MWh formula serves as a founding principle. The SolarCoin whitepaper and policy papers articulate the mission. However, these are not formally protected -- SIP 27 proposed changing the total supply, demonstrating that even core parameters are mutable via Foundation decision. Informal values exist but are not constitutionally protected. [1][2]	2
GO-08	Can the project's issuance rules be changed, and are monetary policy changes subject to stronger constraints than operational changes?Issuance rules can be changed by the Foundation. SIP 27 proposed a dramatic reduction in total supply from 98B to 10B. While SIPs invite community input, there is no supermajority requirement, time-lock, or constitutional constraint on monetary changes. The same Foundation team that handles operations can change issuance rules. [1][2]	2

Resilience

2.4

Code	Question	Score
RE-01	Has the project survived a major crisis or adversarial event?SolarCoin has survived 12 years including multiple crypto bear markets, the departure of co-founders, and a full blockchain migration from its own chain to Energy Web Chain (2021). The migration was a major technical transition that the project navigated successfully. However, it has never faced a targeted adversarial attack, exploit, or regulatory challenge. [1][2]	3
RE-02	Does the project have redundancy in its critical infrastructure?The Energy Web Chain provides blockchain-level redundancy (multiple PoA validators). However, the Foundation's claims system, cold-storage infrastructure, and energy verification process have limited documented redundancy. The single Uniswap trading pair is a liquidity single point of failure. [1][2]	2
RE-03	Can the project recover from a catastrophic failure?The legacy blockchain code is open-source on GitHub. The ERC-20 token on Energy Web Chain is transparent. However, the claims database, cold-storage keys, and energy verification partnerships are held by the Foundation. If the Foundation failed catastrophically, recovery would depend on Foundation-held data and keys. Partial recovery possible. [1][2]	3
RE-04	Is the project's design simple enough to be maintained and understood long-term?The core concept is elegant and simple: 1 MWh = 1 SLR. The ERC-20 token implementation is standard. However, the full system involves energy certificate verification, Foundation review processes, monitoring platform integrations, and blockchain infrastructure management. Moderate complexity. [1][2]	3
RE-05	Is the project dependent on a specific technology that could become obsolete?SolarCoin has already migrated once (own chain to Energy Web Chain), demonstrating technology adaptability. The ERC-20 standard is widely supported. However, it is currently dependent on the Energy Web Chain, which is a relatively niche blockchain. If Energy Web Chain fails, another migration would be needed. [1][2]	3
RE-06	How does the project handle economic stress (bank runs, liquidity crises, collateral crashes, inflation/deflation shocks)?No explicit economic stress mechanisms. SolarCoin has no circuit breakers, dynamic adjustments, or orderly wind-down procedures. The token price has experienced wild swings (from $0.01 to $0.07 in 2025) with no protocol-level response. The Foundation holds 98B pre-mined tokens which could theoretically be used for market stabilization but no such mechanism is documented. [1][2]	2
RE-07	Does the project have sustainable funding for long-term maintenance?The SolarCoin Foundation reported $8.1M annual revenue in 2025 (source: RocketReach). The Foundation holds the unminted supply worth conceptual value but limited market value. Never had an ICO. The Foundation operates as a PBC, suggesting some sustainable business model, though details are unclear. If the $8.1M revenue figure is accurate, funding appears sustainable for the near term. [1][2]	3
RE-08	Can the system operate across extreme latency, disconnected networks, and multi-century timescales?As an ERC-20 token on the Energy Web Chain, SolarCoin requires standard internet connectivity for transaction processing. The 40-year supply design shows some long-term thinking. However, multi-planetary or extreme-latency operation is not considered. Technology migration has been demonstrated once but deep-time readiness is not a design priority. [1][2]	2
RE-09	Is the system designed for a world where AI agents are primary economic actors?SolarCoin operates on the Energy Web Chain with ERC-20 standard interfaces, meaning AI agents can interact with it through standard Ethereum tooling. However, the claims process requires human interaction (solar installation registration, energy certificate submission). Not specifically designed for AI agents. [1][2]	3

Inclusivity

3.3

Code	Question	Score
IN-01	Can anyone in the world participate regardless of nationality, wealth, or status?Any solar energy producer worldwide can claim SolarCoins. The project operates in 73 countries. However, participation requires owning or operating a solar installation, which is a significant economic prerequisite. Non-solar-producers can buy SLR on Uniswap but cannot earn through the core mechanism. The solar requirement creates a meaningful barrier. [1][2]	3
IN-02	What is the minimum cost to start using the project?Claiming SolarCoins is free for solar producers -- the tokens are granted at no cost. The only requirement is owning a solar installation (which is a pre-existing investment, not a SolarCoin cost). Trading on Uniswap requires ETH for gas fees. MetaMask setup is free. Near-zero direct cost to claim. [1][2]	4
IN-03	Does the project actively serve underbanked or financially excluded populations?SolarCoin is accessible globally and does not require bank accounts for core functionality (MetaMask wallet suffices). The project operates in developing countries through partnerships like The Sun Exchange/UNDP initiative. However, the solar installation requirement means the most financially excluded populations (who cannot afford solar panels) are effectively excluded from earning SLR. [1][2]	3
IN-04	Does the project distribute economic benefits -- including seigniorage -- broadly, or concentrate them among insiders?99.4% of the total supply (97.5B) is allocated to the Generator Pool for solar producers. The Genesis Pool (0.5% / 500M) went to environmental charities and early contributors. The Mining Pool (0.1% / 105M) went to initial miners. No VC allocation, no ICO. This is a broadly distributed model with minimal insider concentration. [1][2]	4
IN-05	Does the project treat all participants equally under the same rules?All solar producers receive the same rate: 1 SLR per 1 MWh regardless of installation size or geography. No tiered access, no preferential rates. However, larger solar installations naturally earn more SLR, and the Genesis Pool gave early contributors extra allocation. Fundamentally equal within the solar producer class. [1][2]	4
IN-06	Does the project require identity documentation or surveillance to participate?Claiming SolarCoins requires registering a solar installation with the Foundation, providing energy certificates and installation documentation. This links real-world identity to the claims process. However, once tokens are received in a MetaMask wallet, subsequent transactions are pseudonymous. The claims process creates a data relationship with the Foundation. [1][2]	2
IN-07	Does the project have mechanisms to prevent wealth concentration over time?No anti-concentration mechanisms exist. SolarCoin does not have demurrage, progressive fees, or redistribution. Larger solar producers earn proportionally more. There is no cap on individual holdings. No features specifically designed to prevent concentration, though the free-grant model avoids the pay-to-play dynamics of many tokens. [1][2]	3

Frequently Asked Questions

What is SolarCoin and what problem does it solve?

How is money created in SolarCoin?

Issuance requires claimants to register their solar installation with the SolarCoin Foundation and submit third-party verified energy generation certificates. Claims are reviewed by the Foundation before grants are issued. This is a permissioned, rule-based system with a defined set of qualifying issuers (solar producers), not open to arbitrary participation.

How does SolarCoin maintain stable spending power?

No stability targeting mechanism exists. SolarCoin's value floats freely on the market. The 1 SLR = 1 MWh formula defines issuance, not price stability.

Is SolarCoin independent from fiat currencies?

SLR (SolarCoin) is denominated as 1 SLR = 1 MWh of solar energy, which is a sovereign energy-referenced unit. However, on exchanges SLR is quoted against USD (Uniswap USDC pair), and the Foundation and community consistently reference fiat value. The unit is conceptually sovereign but practically quoted in fiat.

Who controls SolarCoin and can it be shut down?

The SolarCoin Foundation PBC controls the grant issuance process and the cold-storage of pre-mined tokens. The Energy Web Foundation controls the PoA validators on the underlying chain. Either entity's shutdown would critically impair SolarCoin.

How widely adopted is SolarCoin today?

Approximately 5,514 claimants registered as of 2021 data, across 73 countries. The SMA Sunny Portal integration potentially exposes 260,000 users, but actual SolarCoin claimants are in the low thousands. 24-hour trading volume is under $2,000, suggesting very few active traders.

Is SolarCoin still active and growing?

SolarCoin is active and operational. The website is maintained, the claims portal functions, grants continue to be issued on the Energy Web Chain, and the Foundation continues operations. Trading occurs on Uniswap.

What are the main risks or weaknesses of SolarCoin?

Spending Power Stability is the weakest score (1.0/5.0): because SolarCoin has zero stability mechanism, no benchmark, no targeting, and extreme price volatility (600%+ range in 2025 alone). Despite the energy-backed issuance concept, the token functions as a free-floating speculative asset with no purchasing power preservation.

What makes SolarCoin unique from an M69 perspective?

Issuance Model is SolarCoin's strongest conceptual contribution (3.0/5.0): because the 1 SLR = 1 MWh formula directly ties monetary issuance to verified real-world economic activity (solar energy production) without any debt mechanism -- a rare design that closely matches M69's vision of money created through productive activity rather than borrowing.

How is SolarCoin's M69 Score calculated?

SolarCoin scores 2.5/5.0 overall. Pillar scores: Monetary Sovereignty 2.5, Civilizational Durability 2.3, Universal Adoption 2.8. Strongest: Fiat Independence (3.3). Weakest: Spending Power Stability (1.0).