East Williamsburg’s Grid+ halted its token pre-sale amid overwhelming demand Monday. It plans to continue selling its GRID tokens to the public on Oct. 30.
The company aims to create a system that cuts waste and bloat from the electricity supply chain, which it says will allow it to deliver electricity to customers at wholesale prices, which might be as much as 50 percent cheaper. It expects to raise up to $75 million in the token sale.
“By opening economic markets, which are historically locked, Grid+ incentivizes customers to purchase solar panels and batteries,” according to the company. “This moves electricity generation from upstream generators to distributed generation sources.”
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