Klima DAO accumulates $100M of carbon offsets, aims to drive up price

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Climate activism via blockchain is becoming a superior taxable of treatment among academics and manufacture professionals arsenic c offsets are tokenized.

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Klima DAO accumulates $100M of c  offsets, aims to thrust  up   price

Climate-change focused Klima DAO has accumulated implicit 9 million tonnes of c offsets according to a Nov. 8 announcement. The USD worth of those offsets has surpassed $100 million.

In a blog post, the task explained that those offsets are equivalent to the yearly emissions of Georgia, Jamaica, oregon Papua New Guinea. The Klima DAO protocol aims to summation the terms appreciation of c assets.

The halfway squad told Cointelegraph that it intends to enactment upward unit connected the terms of c offsets “so that it becomes much profitable to prosecute successful offset-generating activities, specified arsenic conserving onshore for c sequestration, oregon restoring forests and wetlands.”

Carbon offsets are reductions successful greenhouse state emissions successful 1 spot to compensate for emissions determination else.

By accumulating each those offsets, known arsenic Base Carbon Tonnes (BCT), the Klima DAO treasury has locked successful astir 85% of the existing 10.7 million BCTs on-chain. Each BCT is simply a integer plus representing 1 tonne of c from the Verified Carbon Unit (VCU) registry, which has been bridged onto the Polygon Network by the Toucan Protocol.

As the equilibrium of BCT successful its treasury increases:

“The Klima DAO assemblage volition look to beforehand higher prime c offset projects, peculiarly successful processing economies.”

The task hopes to stimulate a maturation successful the terms of BCT tokens by offering interest sharing, a bonding program, and incentivized liquidity pools connected Sushiswap.

The task is taking vantage of blockchain arsenic a record-keeping strategy that tin make standardization and accountability successful efficiently  assessing information astir the economical and biology interaction of offsets.

Related: Crypto’s clime impact: Are c offsets bully enough?

Climate alteration power via blockchain has go a communal taxable among some the tech-savvy and environmentally-sensitive. During this week’s GOP26 lawsuit successful Glasgow, Scotland, groups from the United Citizens Organization and the Climate Change Coalition advocated for greenish system initiatives.

The University of Cambridge besides announced this week that it would enactment with Tezos to make a decentralized c recognition marketplace.

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