RECTOKEN by BlockEdge - International Renewable Energy Certificate

About Document

REC Token Whitepaper v1.0.3 — 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 custodian (REDEX), ensuring environmental claims are transparent, verifiable, and tamper-resistant.

Executive Summary

Key Information from REC Token Whitepaper V1.0.3 (43 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 independent custodian.

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

0xE930e25f64b93f9d696F2Fe67E9D6223a7B50174

Optimism Chain

0xF4fEfEe4730Cf174608766877911F8D33735f9D7

KUB Chain

0x777777Be0A429aEF3D2eC27d452FA3591b8bE2Fa

Operational Structure

Verification & Issuance: Renewable energy projects (e.g., hydropower) submit data to Evident for I-REC validation and issuance
Aggregation & Custody: NetZero Carbon sources and transfers I-RECs to REDEX for secure custody in ReHash platform
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 (Accredited Custodian)

Holds I-RECs in trust via ReHash platform

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 custodied 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
✓24-Month Limit: I-RECs must not exceed 24 months from official issuance date
✓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 custodian (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. Processing time: 3–14 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, custody (REDEX), 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 v1.0.3 content structure

DefinitionsDefinitions and Glossary

Page 7-10

Part 1Executive Summary

Page 11-13

Part 2Issuer, Management, and Ecosystem Partners

Page 14-16

Part 3Business Plan, Market Overview, and Pricing Mechanism

Page 17-22

Part 4Token Details, Functional Design, and Anti-Double Counting

Page 23-30

Part 5Burn, Redemption, and Retirement Mechanism

Page 31-34

Part 6Technical Infrastructure and Security Framework

Page 35-36

Part 7Risk Factors

Page 37-39

Part 8Legal Framework, Governance, and Conflict of Interest

Page 40-42

RECTOKEN White Paper