Integrate the Token

Trading and value transfers within the local system of Nanogrids is measured using something called IOENFuel which is managed through a mutual credit accounting service.
In a mutual credit system there is no fixed supply and no tangible ''token''. Rather it is simply an accounting platform to track value within the system.
Each ''Supply Agreement'' however will also reference what is called a ''Reserve Account'' which is a pool of funds available to the participants in that system.
A user may redeem or purchase IOENFuel to and from this Reserve account.
Note: At present we have implemented the IOENFuel mutual credit services within the protocol and we leverage the mutual credit Holochain libraries for this purpose which are still under construction so changing often.
The IOEN Reserve Account exchange capability however is still being defined.


The accounting platform within implementations of the protocol is called IOENFuel (Previously called IOEC).
IOENFuel however is not a token or currency. It is a mutual credit ''number'' that simply represents a debit or credit for an agent.
When Nanogrids execute a ''supply agreement'' there will be an IOENFuel debit to the consumer and credit for the supplier.
The value of that transaction will be configured and agreed by the parties in the associated Supply Agreement.
Each supply agreement will distribute IOENFuel value as defined in the policy spec.

Reserve Accounts and the IOEN Token

Each supply agreement in the system will reference a ''Reserve Account''. This may be unique or common (i.e. All suppliers and consumers reference a common Reserve Account for the system).
Reserve accounts hold IOEN ERC Tokens that are transferable within the IOEN eco-system and redeemable for other currencies and tokens.
If a Nanogrid user wishes to ''cash out'' they can ''swap'' their current IOENFuel for IOEN to or from the Reserve account.
The amount redeemed through the swap is proportional based on their IOENFuel Balance vs Total IOENFuel in the system.