Element Community Resilience Plan: choose your option!

Dear PlanetWatchers,

We recently disclosed our Element Community Resilience Plan. We are glad to announce that starting from today all owners of onboarded Element devices can choose via the Explorer between the two options previously announced.

You must make your choice by June 30, 2022, 23:59 CET.

Option 1: Get credits which can be used to claim discount vouchers for a total discount value of $300 per each qualifying Element sensor. 

You will receive 300 PWCREDITS tokens. These are PlanetWatch ecosystem utility tokens, issued as Algorand Standard Assets. Please note that 100 PWCREDITS are needed to claim a discount voucher worth $100.

Vouchers will go live on our marketplace by June 10. Then you will be able to claim vouchers and use them to obtain discounts on sensors and licenses. 

Please note that:

• The sensor vouchers can be used to purchase the sensors in our waiting list and for the new waiting list orders following the purchase of new licenses (Type 1, 2 and 3). Please note that the deadline to join our waiting lists has been extended until June 30, 2022, i.e. if you purchase new Type 1, Type 2 or Type 3 licenses before that date, you will be put on the corresponding sensor waiting list. You can use them on the website of our approved vendor;
• You can use only one sensor voucher for each sensor purchase
• You can stack multiple license vouchers to buy licenses on our website

Rest assured that the May Batch will remain open until the following groups will be able to redeem their vouchers:

1) PlanetWatchers with an onboarded Element sensor and linked to a Type 4 license

2) Those who own an Element sensor but no license and submitted a ticket (within the prescribed time frame providing the right documentation according to the requirements – March 18th, 6 p.m. CET) in order to get one

3) Those who have been approved for the Failed to onboard Element (within the prescribed time frame – Friday, 13th March) option

How to redeem your PWCREDITS

In order to redeem the PWCREDITS you first need to have an account on the Explorer and have passed KYC.

• Log in your Explorer account and choose the “MySensor” Section from the Menu
• Click on your Element sensor
• Click on the “Credits for discount vouchers” option
• Click on “Select Algo Wallet” and select the Algorand Wallet where you want to receive PWCREDITS. If you need to import the wallet on MyAlgo Wallet website, you can check this video guide
• Insert the password of your MyAlgo Wallet account, tick the checkbox and click on “Confirm”
• Enter your password again in order to confirm the Opt-in transaction.
• Wait until the process is completed and PWCREDITS are successfully transferred to your wallet.

Please note: if the wallet does not have the PWCREDIT asset initialized, it will automatically prompt you to opt-in for the asset. No need to do this manually!

Option 2: get a refund for your license

By choosing Option 2, you will subscribe to obtain a full refund for the Type 4 license associated with your Element sensor. 

The refund will be issued in Planets token and will match the full price of the license, based on the prevailing Planets/Euro exchange rate on the refund date according to the following schedule:

• 1-year licenses -> refunds on July 29, 2022.
• 2-year licenses -> refunds on August 31, 2022.
• 3-year licenses -> refunds on Sep 30, 2022. 

Please note that this schedule was set by keeping into account treasury management and administrative constraints.

How to choose a license refund

In order to redeem the Refund you first need to have an account on the Explorer and have passed KYC.

• Log in your Explorer account and choose the “MySensor” Section from the Menu
• Click on your Element sensor
• Click on the “Type 4 license refund” option 
• Click on “Select Algorand Wallet” and select the Algorand Wallet where you want to receive the license refund. If you need to import the wallet on MyAlgo Wallet website, you can check this video guide  
• Insert the password of your MyAlgo Wallet account, tick the checkbox and click on Confirm
• Enter your password again in order to confirm the Opt-in transaction.
• Wait until the process is completed. You will be able to check the refund date based on the license duration

Please note: if the wallet does not have the PWCREDIT asset initialized, it will automatically prompt you to opt-in for the asset. No need to do this manually!

Questions & Answers

Q: Why do I get an error when I try to claim my PWCREDITS / proceed with the license refund?

A: If you get the message “There was an error during the opt-in process. This could be caused by a pop up blocking option permission” please make sure that:

• The wallet that you selected has enough Algos in order to let us transfer the PWCREDITs and initialize the Planet token, if it’s not initialized;
• You allowed pop-up windows in your browser. A notification should appear near the address bar asking you to allow the pop-up.
• You passed the KYC

Q: Can I change the option that I selected after receiving the PWCREDITS or subscribe for a refund?

A. No, you can’t change the selected option after the process is completed

Q: Can I use Pera Algo Wallet instead of MyAlgo Wallet?

A: No, you can’t. You need to import your wallet on MyAlgo Wallet. You can learn how to do this by checking this video guide.

Q: Can I still transfer the Type 4 license associated with the Element sensor to the Atmotube PRO?

A: Yes, you can. As we announced in the Element Community Resilience Plan you can ask us to switch your Type 4 license from Element to Atmotube PRO. You must make the request by June 5. Please note that if you transfer the Type 4 license, you are no longer entitled to neither Option1 nor Option 2.

Q: I already asked to release the license from the Element sensor in order to activate an Atmotube PRO with its license. Can I choose between option 1 and option 2?

A: If you asked us to release the license from the Element sensor, in order to activate an Atmotube PRO, you are not entitled to choose option 1 or option 2, since you are using the license and receiving rewards with it. However, we will restore the full duration of your license on the Atmotube PRO device.

Q: I submitted a ticket for the Type 4 license approval / Failed to onboard Element. When will I be able to make my choice?

A: The general checks related to Type 4 license approval have now been completed. You will soon receive an email regarding the outcome of the checks. The final step for successful Type 4 license approval and Failed to onboard requests will be the checking of the developer token of your Element device. Please note that the developer token check will require you to unpack and connect your Element device. The checks will start around mid-June

Q: I choose option 1 “Credits for discount vouchers”, when will I see my license limit increased?
A: The license limit will be increased for all the PlanetWatchers who will choose option 1 on June 6. We will update the limits every Monday until June 30.