What Suno builds

Suno's answer to the financing gap is one system with three pieces. Each piece does a different job, and each one hands off to the next.

The pWatt: money becomes a plant

Every new project is financed through its own token, the pWatt. Buying pWatts funds the construction of one specific plant, with the money released as installation milestones are met. Investors who commit earlier, when more can still go wrong, enter at a discount.

The pWatt has a bounded job. It carries the project from fundraising to the day the plant proves itself with its first revenues, and then it hands off: the whole project moves into the Reserve, and pWatt investors receive uWatt worth more than they put in. The gain reflects a simple fact about infrastructure: a producing plant is worth more than a construction plan, and whoever carried the construction risk earns a share of that difference. How the gain is split, and why part of it stays in the system, is on the technical page for the pWatt.

The Reserve: plants become a portfolio

Operating plants pool into the Reserve, the balance sheet of the whole system. It holds two kinds of assets: the energy projects themselves, valued by a published methodology and verified by independent parties, and a liquidity buffer of stable instruments that keeps money available on demand.

The Reserve's defining property is that it holds more value than the tokens issued against it. That extra margin is a shock absorber: solar production varies with weather, energy prices move, equipment ages, and all of that lands on the margin before it can touch a holder. No single plant matters too much, because the portfolio absorbs what any one project does. The full mechanics are in The Reserve.

The uWatt: a portfolio becomes a digital dollar

The uWatt is the asset the public holds, and the simplest way to understand it is as a share in that over-collateralized portfolio with a fixed unit value of $1. You can mint it with stablecoins, redeem it back through the protocol, or hold it as a stable unit.

Holding uWatt keeps your value stable; staking it puts your value to work. Staked uWatt (called c-uWatt) receives the portfolio's energy income: as plants sell electricity, part of each payment flows to stakers and the rest reinforces the Reserve's margin. The return is variable because it comes from real operations, and the target is a double-digit annual yield. The pricing rules, the redemption guarantees, and their exact limits are in The uWatt and Yield and staking.

What holds it together

Three habits run through everything above, and they are what makes the system checkable:

• Every number is measured. Plants report their production; valuations come from a published model with frozen, versioned snapshots; an independent attestor verifies that the Reserve holds what it claims.

• The margin is maintained. Part of every project's appreciation and part of every revenue payment stay in the Reserve, so the cushion that protects holders is rebuilt continuously.

• The rules are code. Prices, redemption limits, and the yield split are enforced by smart contracts that operators cannot override.

To see all three pieces move together, follow a dollar through the system: How it works.