OpenVPP is a decentralized payment and tokenization platform built on the Ethereum blockchain, designed for the global electric utility industry. ^{[1] [2]} The project, which describes itself as "The Internet of Energy," aims to provide a regulatory-compliant network for accounting, usage tracking, and payments related to Distributed Energy Resources (DERs) such as electric vehicles, solar panels, and smart home devices. ^[9]

Overview

OpenVPP was developed to address the inefficiencies of legacy payment systems within the energy sector, a market it values at over $10 trillion in annual transactions. ^[2] The project posits that traditional off-chain payment infrastructures are ill-equipped for the increasing prevalence of smart devices and DERs, which require capabilities for machine-automated processes, micropayments, and instantaneous settlement. These legacy systems often suffer from centralization, slow transaction times, and security vulnerabilities. OpenVPP's solution is a decentralized, on-chain platform that operates 24/7, utilizing stablecoins to facilitate modern energy transactions. ^[2]

The platform is designed to function as an orchestration layer for energy assets, enabling grid operators to aggregate, dispatch, and compensate a network of energy devices, effectively creating a global Virtual Power Plant (VPP). ^[2] By providing what it calls "Regulated Digital Asset Rails," OpenVPP aims to connect the world's energy payment systems and help utilities manage flexible capacity at the grid edge. ^[9] The project is categorized within the Decentralized Physical Infrastructure Network (DePIN) and energy sectors of the blockchain industry. ^[8]

History

The official X (formerly Twitter) account for OpenVPP was created in September 2024. ^[9] The project's native token, OVPP, experienced significant price movements in its early trading history. It recorded an all-time low of $0.01586 on September 2, 2025. ^{[8] [10]} Following a social media announcement on September 15, 2025, claiming a partnership with the U.S. SEC, the token's price surged over 150% in a week, reaching a new all-time high on September 16, 2025, with a market capitalization reported to be over $155 million. ^{[11] [10]}

This price increase was followed by public controversy. On September 17, 2025, U.S. SEC Commissioner Hester Peirce publicly denied the collaboration claims, stating she had not endorsed any private crypto project. ^[12] During the same period, it also faced allegations of falsely claiming a partnership with ComEd, a major U.S. energy delivery company. ^[8]

On September 19, 2025, the OVPP token was listed on the Gate.io cryptocurrency exchange with an OVPP/USDT trading pair. Concurrently, OpenVPP announced a staking program on the platform. ^[9] The project was scheduled to participate in the "Unlocking Impact Pitch Competition" at the Circle headquarters in New York City on September 21, 2025. ^[9]

Technology

OpenVPP operates as an ERC-20 token on the Ethereum blockchain. ^[7] The platform's architecture is built upon three core technological innovations designed to integrate blockchain with the energy sector. ^[2]

Decentralized Integration Layer

A central feature of OpenVPP is a universal routing and integration layer that connects utilities with device providers and aggregators. The project describes this as a "decentralized point-to-point 'DNS for DERs' (Distributed Energy Resources)." This peer-to-peer protocol is designed to allow different stakeholders in the energy grid to interact directly and securely without relying on centralized intermediaries, establishing a trust layer for financial transactions involving energy assets. ^{[2] [1]}

Stablecoin Payments Layer

The platform incorporates a bespoke payments layer that enables utilities to integrate stablecoins into automated smart energy payment flows. This system supports instantaneous payments, micropayments, and automated billing. A key feature is the ability for utilities to "wrap" existing stablecoins into customized tokens tailored for specific energy use cases, such as customer engagement programs or rewards. This customization is facilitated by specialized on-chain oracles that can provide market-based energy pricing data. ^{[2] [1]}

Gas Abstraction

To improve user experience and promote adoption, OpenVPP has implemented a gas abstraction mechanism. This feature is intended to create a seamless, mobile-first experience for utility customers by removing the complexities typically associated with blockchain transactions. Secure, programmable wallets can be integrated into existing utility mobile applications via OAuth. End-user transactions are processed without requiring the customer to hold native crypto tokens to pay for gas fees. Instead, a "Gas Sponsor," or relayer, broadcasts the transaction and pays the necessary gas fee. This cost is then deducted from the user's balance in OVPP tokens or a stablecoin, or sponsored entirely by the utility as part of a program. ^[2]

Security and Centralization

A security analysis provided by GoPlus via CoinGecko has indicated potential centralization risks associated with the OVPP token contract. The report notes that the contract has mutable properties, granting the contract creator significant control. These capabilities may include the ability to disable sales, alter transaction fees, mint new tokens, or transfer tokens from any holder's wallet. ^[8]

Tokenomics

The native utility token of the OpenVPP platform is OVPP. ^[2]

Supply and Distribution

The total and maximum supply of OVPP is capped at 1,000,000,000 tokens. As of September 2025, the circulating supply was reported to be 800,000,000 OVPP, representing 80% of the total supply. ^[7] The 200,000,000 non-circulating tokens are allocated as follows:

• Treasury: 100,000,000 OVPP
• Marketing/Operations: 100,000,000 OVPP (split evenly between two separate wallets)

This allocation information was derived from on-chain data. ^[8]

Utility

The primary utility of the OVPP token mentioned in the project's documentation is its role in the gas abstraction system. Users can have transaction gas fees deducted from their OVPP balance, providing a practical function for the token within the ecosystem. ^[2]

Controversies

In September 2025, OpenVPP was the subject of multiple public controversies stemming from allegations of false marketing claims.

Disputed Hester Peirce Endorsement

Around September 15, 2025, OpenVPP claimed in a social media post a collaboration with U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce, who is widely known in the cryptocurrency community as "Crypto Mom." ^[11] The announcement was followed by a sharp increase in the OVPP token's price. ^[10] However, on September 17, Commissioner Peirce publicly refuted this claim, stating that she does not collaborate with or endorse specific token projects. Following her statement, OpenVPP reportedly hid her reply on social media. ^[12] The incident was reported by several cryptocurrency news outlets. ^[8]

Alleged False Partnership with ComEd

Contemporaneously, the project faced accusations of falsely claiming a partnership with Commonwealth Edison (ComEd), one of the largest electric utility companies in the United States. These allegations were also covered by industry media. ^[8]

Team and Advisors

OpenVPP is based in San Francisco, CA, and is led by a co-founder with experience in the electric utility industry. ^{[9] [1]}

Leadership

• Parth Kapadia (Co-Founder & CEO): Kapadia's prior experience includes roles at the electric utility company Exelon Corp. and as the Director of Technical Product Management at AutoGrid, a software provider for the energy industry that was later acquired by Uplight, a Schneider Electric company. ^[1]

Advisory Board

The project's advisory board includes individuals with executive and innovation roles at major energy and investment firms:

• Craig Cremean: Vice President of Transmission Operations at Exelon Corp.
• Kumara Aditya: Works in Digital Innovation at Schneider Electric.
• Matt King: Founder & Managing Partner of Vanquish Ventures.

The broader team is described as being composed of developers, operators, and marketers with collective experience from energy companies such as Sunrun, Tesla Energy, and Commonwealth Edison. ^[1]

Partnerships and Exchange Listings

According to its official documentation, OpenVPP has secured partnerships with a major stablecoin issuer and a multi-billion dollar energy and utilities infrastructure provider. The names of these partners were slated to be announced upon the project's official launch. ^[2] The project's 2025 roadmap also includes goals to establish formal partnerships with an "Institutional Energy Partner" and an "Institutional DeFi Partner." ^[1]

The OVPP token is available for trading on both centralized and decentralized exchanges. Key trading venues include:

• Uniswap (v2 and v4)
• MEXC
• XT.COM
• LCX Exchange
• Gate.io

The OVPP/WETH pair on Uniswap v2 has historically accounted for the majority of the token's 24-hour trading volume. ^[7]