Klima DAO

Introduction $Klima is an algorithmic carbon-backed currency on the Polygon chain aiming to become a liquidity engine for the carbon markets. Klima DAO allows Web3 builders and users to participate in the carbon market through the KLIMA token. KLIMA tokens are fungible, are backed by at least 1 Verified Carbon Unit* in the Klima DAO treasury, and holders of KLIMA will have the ability to vote on Klima DAO policy.

History A group of anonymous builders launched Klima DAO on 18th October 2021. Klima DAO is a fork of Olympus DAO, and its token $Klima is a rebasing token similar to the mechanism of $OHM.

How does it work?

1: Bringing Carbon Credits on-chain Regenerative projects in the real world help remove the greenhouse gases from the atmosphere using reforestation and other regenerative techniques. These projects create an equivalent amount of Carbon credits available on the market through a verification process agreed upon by the voluntary market. These carbon credits are then tradable and are utilized by large companies to offset their carbon footprint by purchasing them off the market. Thus, indirectly funding these projects. However, the current carbon market lacks the liquidity to sustain efficient trading.

Toucan Protocol is a web3 project which provides the infrastructure to bring these off-chain Carbon Credits over to the blockchain. Like we have bridges to send crypto tokens between L1s or L2 blockchains, the Toucan protocol acts as a bridge between the real and blockchain worlds. Users or projects can bridge their Carbon Credits after undergoing the verification and validation process by Verra. Verra ensures valid tokenization and that the real-world carbon credits are retired forever to avoid duplication and malpractices.

Known on-chain tokens for Carbon Credits:

BCT: Toucan Base Carbon Tonne

NCT: Nature Carbon Tonne

MCO2: MOSS Carbon Credit Token