Solarcoin (SLR) is an innovative digital currency designed to promote solar energy adoption by rewarding solar power producers with cryptocurrency. As of July 2, the exchange rate stands at 1 SLR = OMR 0.0077, reflecting a steady upward trend in value over recent weeks. With a circulating supply of over 64.8 million SLR and a market capitalization exceeding OMR 497,000, Solarcoin continues to gain traction among environmentally conscious investors and clean energy advocates.
Understanding Solarcoin (SLR)
Solarcoin is more than just another cryptocurrency—it’s a sustainability-driven initiative that bridges renewable energy and blockchain technology. Built on a Scrypt-based proof-of-work model, its unique feature lies in the Solar Proof of Work mechanism, which rewards verified solar energy generation.
Each megawatt-hour (MWh) of solar electricity produced earns the generator one Solarcoin. This incentivizes solar farms and individual producers alike to contribute clean energy to the grid while being rewarded in a decentralized digital asset.
To claim Solarcoins, energy producers must submit third-party verified documentation such as Solar Renewable Energy Certificates (SRECs) or equivalent national certifications. These claims are then recorded transparently on the blockchain, ensuring traceability and trust.
The Three-Pool Supply Model
The total supply of Solarcoin is structured across three distinct pools:
- Mining Pool: 105 million SLR (0.1%) allocated for public mining over 40 years. These coins represent unclaimed historical solar energy production.
- Generator Pool: 97.5 billion SLR (99.4%) held in a non-circulating reserve, to be distributed over time based on verified solar generation claims.
- Genesis Pool: 500 million SLR (0.5%) reserved for environmental charities, early contributors, developers, and project maintainers. Distribution from this pool is capped at 5% of total circulating supply.
This model ensures long-term sustainability and aligns incentives with actual solar energy output rather than speculative mining.
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Current Market Performance
As of the latest data, Solarcoin is experiencing positive momentum:
- Current Price: 1 SLR = OMR 0.0077
- Market Cap: OMR 497,373.09
- 24-Hour Trading Volume: OMR 342.86
- Circulating Supply: 64,813,806.782 SLR
Over the past 24 hours, trading volume increased by 18.09%, indicating growing investor interest. The exchange rate rose by 1.99% in the same period, with the daily high reaching OMR 0.0077 and the low at OMR 0.0075 per SLR.
On a broader timeline:
- 7-Day Change: +3.45%
- 1-Month Change: +9.43% (up from OMR 0.0070)
- 1-Year Change: -20.36% (from OMR 0.0096)
Despite a year-on-year decline, the recent uptrend suggests renewed confidence in the project’s long-term vision.
SLR to OMR Conversion Guide
Converting between Solarcoin and Omani Rial is straightforward using real-time exchange rates.
Common Conversions (OMR to SLR)
- OMR 1.00 → 130.22 SLR
- OMR 5.00 → 651.10 SLR
- OMR 10.00 → 1,302.20 SLR
- OMR 50.00 → 6,511.02 SLR
- OMR 100.00 → 13,022.04 SLR
- OMR 500.00 → 65,110.22 SLR
- OMR 1,000.00 → 130,220.45 SLR
Historical Value Comparison (Per 1 SLR)
| Time Period | Exchange Rate (OMR) | Change |
|---|---|---|
| Today | OMR 0.0077 | — |
| 24 Hours Ago | OMR 0.0075 | +1.99% |
| 1 Month Ago | OMR 0.0070 | +9.43% |
| 1 Year Ago | OMR 0.0096 | -20.36% |
These fluctuations highlight the dynamic nature of cryptocurrency markets and underscore the importance of timing when converting or investing.
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Frequently Asked Questions
What is Solarcoin used for?
Solarcoin incentivizes solar energy production by rewarding generators with digital tokens for every MWh of electricity they produce. It serves both as a financial incentive and a tracking mechanism for renewable energy contributions.
How do I earn Solarcoins?
You can earn Solarcoins by generating solar power and submitting verified proof of generation—such as SRECs—to the Solarcoin Foundation. Once validated, you’ll receive 1 SLR per MWh directly into your digital wallet.
Is Solarcoin a good investment?
While past performance doesn’t guarantee future results, Solarcoin appeals to impact investors who value environmental sustainability. Its long-term distribution model tied to actual energy output differentiates it from speculative cryptocurrencies.
Where can I store Solarcoin?
Solarcoin can be stored in any wallet that supports Scrypt-based cryptocurrencies. For enhanced security and ease of use, many opt for dedicated crypto wallets compatible with decentralized applications (dApps).
How does Solarcoin differ from other green cryptocurrencies?
Unlike carbon offset tokens or eco-themed meme coins, Solarcoin is directly tied to measurable solar energy output through verifiable documentation. This creates a transparent, utility-driven ecosystem rooted in real-world impact.
Can I buy Solarcoin on major exchanges?
While not listed on all mainstream platforms, Solarcoin is available through select decentralized exchanges and specialized crypto wallets. Always verify availability and security before initiating transactions.
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Final Thoughts
Solarcoin represents a bold fusion of environmental stewardship and blockchain innovation. By aligning financial rewards with sustainable practices, it offers a compelling model for how cryptocurrency can drive positive global change.
Whether you're a solar energy producer looking to monetize clean power or an investor interested in green tech assets, understanding the SLR to OMR conversion rate and market dynamics is essential for informed decision-making.
With increasing awareness around climate action and decentralized finance, projects like Solarcoin may play a pivotal role in shaping the future of energy and digital economies.
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