How to Liquidize an AREC NFT

Liquidizing an AREC NFT means setting the AREC NFT to the Liquidized state, and minting some amount of ART, the Arkreen Renewable-Energy Token, to the owner's wallet. The newly minted amount of ART is exactly the same as the amount of the RE conveyed by the liquidized AREC.

The ART, ERC20-compliant token, can be added to the liquidity pool of Arkreen DEX to generate profit as a market maker, and can also be swapped to other tokens whenever necessary.

The Liquidized state is an intermediate state, which converts to Retired state while someone offsets the ART tokens as a climate action. It can also return back to Certified state while the required ART tokens are burned to Merge the AREC NFT.

Liquidize AREC

Go to AREC Liquidize.

Please follow the steps below to Liquidize your AREC:

• Step 1. Visit the AREC Dapp, and connect your wallet
  

• Step 2. Visit AREC Liquidize page
  

  • On PC: Click the Retirement item in the left navigation bar, and then click the Liquidize button at the top of the page.
    

  • On smartphone: Select the Retirement item under the AREC top menu, and then click the Liquidize button at the top of the page.
    

  On the top of AREC Liquidize page, there are 2 or 3 data items being displayed:

  • Total AREC NFT Number: Total number of the AREC NFT, in either Certified or Pending state.
    

  • Total Issued AREC Amount: Total RE amount of the Certified AREC NFTS in your account.
    

  • Total Pending AREC Amount: Total RE amount of the Pending AREC NFTS in your account. This item is not displayed when there is no Pending AREC.
    

AREC Liquidize on PC

AREC Liquidize on phone

• Step 3. Select the AREC NFT to liquidize

  In the AREC NFT List, all your AREC NFTs are listed. Three data items, ID of the AREC NFT, amount of the renewable energy conveyed by the AREC, and the status of the AREC are displayed for each AREC.

  Select the AREC NFT you want to liquidize.

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  Only the AREC in Certified state can be liquidized. If you select an AREC in the Pending state, the button Liquidize will be disabled.
  Please wait until the Pending AREC has become certified by the Arkreen Network. Normally it takes a few minutes for AREC certification, but it might also take up to 1-2 days in case the blockchain network is extremely congested.
  

  Once you select the AREC NFT, some information linked to this AREC will be displayed.

  • AREC Status: Can be in the Certified or Pending. Only Certified AREC can be liquidized.
    

  • AREC Issuer: Name of the AREC issuer. Currently only Arkreen Foundation is supported. Some other third-party issuers may be supported later on.
    

  • AREC Serial No: This is the unique serial number of the AREC certified by the issuer. This number is assigned by the AREC issuers according to their own encoding rules.
    

  • Earliest AREC Date: This is the earliest date when the renewable energy of the selected AREC is generated.
    

  • Latest AREC Date: This is the last date when the renewable energy of the selected AREC is generated.
    

  • Total RE Amount: This is the amount of the total renewable energy recorded in the selected AREC NFT.
    

  • AREC Region: Region of the generated RE. If the AREC is made of renewable energy generated by multiple miners in different regions, these regions are concatenated together.
    

  • AREC CID: CID in IPFS of the RE data contained in the selected AREC.
    

• Step 4. Liquidize the selected AREC

  Please carefully check and confirm the selected AREC is the specific AREC you want to liquidize. If there are no issues, click the button Liquidize AREC to activate the MetaMask wallet to sign the transaction.

  Check the transaction information, and click Confirm to sign and send out the transaction.

  While your transaction goes on chain, the liquidized AREC is set to Liquidized, and the exactly same amount of ART tokens as the amount of the RE in the liquidized AREC are minted to your account.