YEREVAN (CoinChapter.com) — Powerledger has officially expanded its operations into the Solana mainnet, emphasizing a commitment to clean energy solutions. The company noted that Powerledger Solana integration would help enhance sustainability, innovation, and transparency.
A spokesperson for Powerledger stated,
“At the heart of both Powerledger and Solana is a shared vision of innovation, sustainability, and transparency.”
With a dedicated focus on the ReFi movement, which aims to develop systems that enhance environmental, social, and economic well-being, Powerledger is strategically positioning itself within this expanding sector. Furthermore, according to CoinGecko, the total market capitalization for ReFi stands at $110.48 million.
John Bulich, co-founder of Powerledger, commented that the integration with Solana underscores the goal of sustainability, showing how it can extend across different blockchain ecosystems.
Powerledger to Stop Operating Solana Virtual Machine Blockchain
As part of this shift, Powerledger will stop operating its own Solana Virtual Machine (SVM) blockchain after more than 12 months of operation. The company shared that it has gained valuable experience during this time but now sees the Solana mainnet as a more scalable and open platform for its operations.
The company shared that it considered expanding into the Solana mainnet a major step. The move marks an important moment for Powerledger as it continues to advance its clean energy projects.
POWR Token is Now Available as SPL Token on Solana
As part of this integration, Powerledger’s native token, POWR, will now be available on the Solana network as an SPL token. This is in addition to its existing status as an ERC-20 token on Ethereum. According to CoinMarketCap, POWR has recently seen a substantial price increase, reaching $0.2477 with a 27.70% rise over the past week as of Sep. 21.
Powerledger’s blockchain solutions encompass peer-to-peer energy trading, virtual power plants, and renewable energy certificates (REC) trading. By integrating with the blockchain, the company aims to expand these solutions to a broader audience within the blockchain community.
Consequently, this move is expected to significantly enhance the visibility of clean energy narratives.
Broader ReFi Movement Gains Momentum with Powerledger and Solana Collaboration
The integration occurs as Regenerative Finance (ReFi) gains importance. Powerledger and Solana are aligning their efforts to boost sustainable and environmentally focused projects.
A Powerledger spokesperson emphasized the integration’s role in advancing financial innovation for planetary well-being. This collaboration aims to enhance clean energy solutions within the blockchain sector.
Following this, Worldcoin recently announced its World ID integration with the Solana blockchain. This integration, completed on Sep. 13, uses a cross-chain protocol from the Wormhole Foundation.
