Piggycell, a DePIN solution that tokenize incentives for electric power-charging solutions

Charge and Play to own and earn incentives through No.1 power-charging platform.

Hi ICPians!

We are super excited to get involved in ICP ecosystem and community!

Who we are?

Piggycell is a DePIN that tokenize its incentive solutions on ICP.

Enjoy sustainable X2E with No.1 charging infrastructure in Korea.

We deployed over 100,000 batteries over 13,000 chargers

Users can participate in our ecosystem in 3 different ways

  1. Charge to earn: Charge your device with Piggycell Battery to earn PGC
  2. Dominate to earn: Own a device by owning Piggycell NFT. Each NFT is paired with a unique device. You will earn Revenue Sharing from the device you own
  3. Challenge to earn: Complete daily mission to earn additional bonus while enjoying Charge to earn

Web3 advantages

  • We have several competitors in the global market and one of the good example is ChargeSpot in Japan.
  • In a sense that what we provide in terms of service is basically the same. However, what we would like to add in terms of value is that users can own the devices and control what they earn.
  • All incentives are provided in a form of token which the platform operators can’t control so that users can have full controllership.
  • Plus, we are providing a fun blockchain gamification aspect so that users can enjoy further while they are charging

How is it built

Piggycell Web3 is built using Motoko and Javascript as primary languages.

Tech Stack:

  • Frontend: Vite, React.js
  • Deployment: DFX

Backend Libraries (Mops):

  • libsecp256k1: EVM wallet message signature verification
  • sha3: Keccak encryption for EVM wallet signature verification
  • rlp: RLP encoding for EVM wallet signature verification

Frontend Libraries (NPM):

  • @dfinity/auth-client: Actor agent creation based on identity
  • @dfinity/identity-secp256k1: Identity creation using Secp256k1 PEM private keys
  • Web3Modal: EVM wallet integration
  • ethers: EVM wallet message signature handling

Package Management:

  • NPM: Javascript package manager
  • Mops: Motoko package manager

Internet Computer Superpowers

ICP’s key strengths have been leveraged in the following ways:

  • Cost Efficiency: Less than $100 annual operational cost even with per-second point updates
  • High Throughput: Capacity to handle 11,500 transactions per second, enabling large-scale user base
  • Development Efficiency: Rapid initial setup and canister deployment through DFX

Go-To-Market Strategy

  • (Local) We have 3,210,000 users who experience our charging services with payment. The users are the primary users who will enjoy the decentralized incentives first. As soon as we launch Web3 Piggy, users are able to claim their incentives. We currently see over 2,000,000 users have claimable tokens as of Oct 2024

  • (Global) We will issue the same number of NFTs with Devices. Each NFT will be synchronized to a device. Anyone can participate in minting and own the devices as many as they wish.

  • During the launching event, we will enhance the incentive rate up to 10x-20x in C2E and D2E so that users can enjoy the boosted incentives. This will be also in collaboration with key KOLs in X

Monetization

  • To use Piggycell chargers, users should authorize their credit card or other types of payment method such as KakaoPay. As a leading charging infrastructure in South Korea, Piggycell made approximately 10,000,000,000 KRW in revenue in 2023. Monetization is going well with our well-set infrastructures.
  • For the NFTs linked to the devices, we are looking to set the minting price at $50 in token, and majority of fund raised through NFT sales will be used to incentivize NFT holders.

Status of the project

  • Piggycell Web2 is growing very quickly since 2020, and we have achieved No.1 market in 2022. So far, Piggycell deployed over 100,000 batteries with 13,000 Devices. Total number of users who made payment on our platform is over 3.2 million.

  • We are currently working to integrate international payment methods such as Wechat Pay, Alipay to help tourist to easily use our charging infrastructure.

  • Piggycell Web3 has completed PoC of tokenization for its incentives with the first Grant approved by ICP

  • We are now building the main platform which is expected to launch by early next year.

Future Plan

Through the 25K Dev Grant, we have completed below development

  • Development of system architecture and point system on ICP

  • Development of system architecture and point system on ICP

  • Point system testing and system integration

Now, we are moving on to main feature development with most of features as stated below

  • Charge to earn, Dominate to earn, Challenge to earn
  • Integration of web2 and web3 platforms
  • Native Token Issuance on ICP
  • Synchronization of NFTs to each devices
  • Real time device location tracker for NFT holders

We are super excited to be part of ICP ecosystem and we would love to share more stories as we go!

If anyone wants to know more about Piggycell, please share your questions or thought in the thread!