RECTOKEN by BlockEdge - International Renewable Energy Certificate

About Document

REC Token Whitepaper v1.0 — Comprehensive details about the REC Token ecosystem by BlockEdge

This White Paper presents the concept of tokenizing International Renewable Energy Certificates (I-RECs) using blockchain technology to create a transparent, verifiable, and cross-border accessible system.

The REC Token operates under a multi-party framework with clear segregation of duties between the issuer (BlockEdge), asset aggregator (NetZero Carbon), and registrar (REDEX), ensuring environmental claims are transparent, verifiable, and tamper-resistant.

Executive Summary

Key Information from REC Token Whitepaper V1.0 (48 Pages)

Project Overview

REC Token is a Utility Token representing ownership of International Renewable Energy Certificates (I-REC) at a ratio of 1 Token = 1 MWh. Issued by BlockEdge Co., Ltd. to support Net Zero Carbon goals and enable transparent, verifiable cross-border renewable energy trading. Operating under a multi-party framework with clear segregation of duties between issuer, asset aggregator, and registrar.

Token Information

Token Name

REC Token

Token Type

Utility Token (Ready-to-use)

Underlying Asset

1 Token = 1 MWh of I-REC

Blockchain

CO2e Chain (Layer 3 Optimistic Rollup)

Maximum Supply

100,000,000 Tokens

Certification Standard

The International REC Standard (I-REC)

Smart Contract Addresses

CO2e Chain

0x578f3B6133A3BF06b2988B68085DD9860D2cAbca

Optimism Chain

0xF4fEfEe4730Cf174608766877911F8D33735f9D7

KUB Chain

0x5555555555240EF13ef76C1dC35Aa5CD695616F8

Operational Structure

Verification & Issuance: Renewable energy projects (e.g., hydropower) submit data to Evident for I-REC validation and issuance
Aggregation & Asset Locking: NetZero Carbon sources I-RECs, transferred to an account in BlockEdge's name operated through REDEX/ReHash for recording and locking
Tokenization (Two-Tier): BlockEdge mints project-specific tokens (Tier 1), then Central Pool converts to pooled tokens (Tier 2) at 1:1 ratio
Central Pool & Trading: Pooled tokens serve as standardized tradable instruments on digital asset exchanges
Redemption & Retirement: Minimum 100 tokens. Pooled tokens burned, I-RECs allocated via FIFO by Vintage Year (oldest first). Three redemption options available

Key Partners

BlockEdge Co., Ltd. (Issuer)

Technology developer and official issuer of REC Token

NetZero Carbon Co., Ltd. (Asset Aggregator)

Strategic partner responsible for sourcing and vetting renewable energy assets

REDEX (Registrar)

Operates ReHash platform for recording, locking, tracking, and management of I-REC certificates

Evident (Official Registry)

Global registry platform for managing and tracking I-RECs

Valix Consulting Co., Ltd. (Smart Contract Auditor)

Independent smart contract security auditor

Baker & McKenzie Ltd. (Legal Advisor)

Legal counsel for regulatory compliance and framework

Management Team

Mr. Dom Charoenyos

Founder & Chief Executive Officer

Expert in IT and digital transformation, responsible for strategic direction and platform development

Ms. Getsara Tienchai

General Manager

Responsible for day-to-day operations, regulatory compliance, and ecosystem partner coordination

Key Features

Mint-on-Lock: Tokens minted only after I-RECs verified and locked by REDEX
Traceability: Full metadata traceability on blockchain with immutable records
Double Counting Prevention: One-way binding, periodic reconciliation, and public transparency dashboard
Cross-Border Recognition: Supports ASEAN cross-border I-REC usage under GHG Protocol Scope 2
Quarterly Reconciliation: Regular reconciliation between circulating tokens and locked I-RECs
FIFO by Vintage Year: Oldest vintages allocated first during redemption

Asset Whitelisting Criteria

✓Geographic Boundary: Projects must be located within Southeast Asia (SEA) region
✓Asset Exclusivity: Hydropower only. No solar, wind, or biomass permitted
✓2-Year Limit: I-RECs must not exceed 2 years from the vintage year under the I-REC standard
✓Due Diligence: Preliminary verification of generation data and documentation prior to sourcing

Governance & Security

Mint-on-Lock: No pre-minting. Tokens minted only after I-RECs locked by REDEX
Multi-Signature Authorization: Requires approval from BlockEdge and NetZero Carbon
Segregation of Duties: Clear separation between issuer (BlockEdge), aggregator (NetZero Carbon), and registrar (REDEX)
Emergency Pause: Smart contracts include multi-sig pause function for security incidents
Governing Law: Kingdom of Thailand

Token Allocation

40%

Direct User Allocation

Minted and allocated to organizations/users who supply underlying I-REC assets

60%

System Liquidity Reserve

Reserved to support system liquidity and market accessibility. Strictly for operational purposes.

Redemption Options

Option 1: Receive I-REC without Retirement (Legal Entities only)

Transfer I-RECs to user's REDEX account for future use

Option 2: Retirement under Legal Entity

I-RECs retired on REDEX platform with official retirement certificate issued

Option 3: Retirement on behalf of Individual

I-RECs retired under BlockEdge's account with individual's name recorded in retirement details

Minimum: 100 tokens per request. Transfer: within 7 business days. Retirement: 3–14 business days. Total process: max 30 business days.

Pricing Mechanism

REC Token Price = Underlying Asset Value (OTC) + Platform Fee

Price based on I-REC OTC market rates. Platform fee covers technology, REDEX/ReHash platform operations, and lifecycle management costs.

Risk Factors

• Regulatory Risk: Changes in digital asset laws, environmental standards, and domestic policy restrictions (e.g., green electricity tariffs UGT)

• Technology Risk: Blockchain infrastructure, smart contract vulnerabilities, integration dependencies, and transaction ordering (gas price) risk

• Market Risk: I-REC price volatility and limited liquidity

• Operational Risk: Reliance on ecosystem partners (NetZero Carbon, REDEX, Evident) and external standards

• Business Continuity: Data redundancy, blockchain state anchoring, and emergency pause mechanism

Table of Contents

Whitepaper v1.0 content structure

Definitions and Glossary

Core Entities & InfrastructurePage 7

Asset & ESG ConceptsPage 8

Token MechanicsPage 9

Governance, Security & VerificationPage 10

01 Executive Summary

1.1 General Information of the Digital TokenPage 11

1.2 Nature and Structure of the OfferingPage 12

1.3 Summary of Operational WorkflowPage 13

02 Issuer, Management, and Ecosystem Partners

2.1 Digital Asset Issuer: Blockedge Co., Ltd.Page 14

2.2 Strategic Partner: NetZero Carbon Co., Ltd.Page 15

2.3 Underlying Asset Account and ReHash FrameworkPage 16

03 Business Plan, Market Overview, and Pricing Mechanism

3.1 Concept of I-REC and Scope 2 EmissionsPage 17

3.2 Market Trends and Increasing Corporate DemandPage 18

3.3 I-REC Standard, Jurisdictional Validity, and Cross-Border UsagePage 19

3.4 Pricing MechanismPage 20

3.5 Cross-Border Eligibility and Domestic Policy ConsiderationsPage 23

04 Token Details, Functional Design, and Anti-Double Counting Mechanisms

4.1 Tokenomics, Total Supply, and AllocationPage 24

4.2 Anti-Double Counting MechanismsPage 26

4.3 Asset Quality ReviewPage 28

4.4 Holder Rights, Transfers, and Retirement PolicyPage 29

4.5 Project Scope, Central Pool Operation, and Document UpdatesPage 30

4.6 Underlying Asset Vintage Management PolicyPage 31

05 Burn, Redemption, and Retirement Mechanism

5.1 Redemption and Retirement ProcessPage 32

5.2 System Continuity and Verifiable ProcessPage 34

5.3 Process Integrity AssurancePage 35

5.4 Fees and ChargesPage 35

5.5 Appeal Mechanism and Dispute HandlingPage 36

06 Technical Infrastructure and Security Framework

6.1 CO2e Chain (Layer 3 Optimistic Rollup)Page 37

6.2 Smart Contract Audit and Security ControlsPage 38

07 Risk Factors

7.1 Regulatory and Compliance RisksPage 39

7.2 Technology and Security RisksPage 40

7.3 Market and Liquidity RisksPage 41

7.4 Operational RisksPage 41

7.5 Business Continuity and Disaster Recovery (BCDR)Page 41

08 Legal Framework, Governance, and Conflict of Interest Management

8.1 Governance, Issuance Authority, and Conflict of Interest MitigationPage 43

8.2 Custody of Underlying AssetsPage 45

8.3 InteroperabilityPage 46

8.4 Governing Law and Dispute ResolutionPage 46

8.5 Disclaimer and Limitation of LiabilityPage 47

RECTOKEN White Paper