What's up HYVERs - missed the token integrations much? We have done a lot in this past month, it would be a shame to leave token integrations aside for the time being! Worry not, as we are building this strong collaborative ecosystem further.
Today we are excited to welcome KlimaDAO, a project that is building the infrastructure for a transparent, neutral, and public Digital Carbon Market to accelerate climate finance on a global scale. It's like a new approach to making a positive impact on the environment!
The future of carbon markets is here!
Inspired by Olympus DAO, KlimaDAO is a Decentralized Autonomous Organization to drive climate action via a carbon-backed, algorithmic cryptocurrency- the KLIMA token. As the protocol grows, KlimaDAO will solve the critical problems of the carbon markets:
- Illiquidity - carbon credits come in many different varieties; carbon brokers and middlemen are used by buyers and sellers, fragmenting the total liquidity of the market.
- Opacity - trades occur often behind closed doors, allowing buyers to underbuy the market.
- Inefficiency - buying and retiring carbon credits comes with friction and barriers, utilizing the polygon ecosystem, removes this friction for all users.
KlimaDAO's infrastructure is all about making things accessible and transparent throughout the entire carbon market chain. It's like a win-win for everyone involved:
- Project developers can easily use the infrastructure to find buyers for their carbon credits without any delays.
- People who want to buy carbon credits can do it quickly and securely using Web3 tools.
- When it comes to claiming the environmental benefits of those carbon credits, KlimaDAO's retirement infrastructure cuts out any middlemen, making the process smoother.
And here's the best part: if you have tokens (meaning $KLIMA), you can directly participate in the system's decision-making. No exclusions!
The whole system is built on a public blockchain, which means it's fully transparent and fair. This kind of openness creates an equal playing field for everyone in the market. And because it's based on a public blockchain, there's room for innovation and lower transaction costs.
Blockchain tools enable Klima DAO to operate uniquely, allowing for rapid scaling while maintaining decentralized governance and promoting transparent carbon credit trading with low transaction fees. It's like a role model for other organizations that want to be open and fair in the future!
Klima DAO’s goal is to accelerate the price appreciation of carbon assets. A high price for carbon forces companies and economies to adapt more quickly to the realities of climate change, and makes low-carbon technologies and carbon-removal projects more profitable.
If you want to learn more, we added a video from their Youtube channel that explains what Klima does in a more explicit manner!
Keen on $KLIMA?
The KLIMA token, a crucial aspect of the platform, is designed to serve as a carbon-backed reserve currency, and also giving $KLIMA token holders governance and treasury rights to Klima DAO that are proportional to the number of tokens they possess.
According to their whitepaper, the token has 4 axioms:
- Every $KLIMA token has an Intrinsic Value (IV) backing the token - while there can be more assets backing the token, there is a minimum value associated with the token. Hence, there is a price floor, but no price ceiling of the protocol. As of today, the Intrinsic value is 1 carbon tonne. In other words, every KLIMA token is backed by 1 Carbon Tonne.
- The $KLIMA token can only be minted or burned by the protocol - the protocol serves as the "decentralized, central bank" of the token, with the ability to expand and contract supply.
- When $KLIMA is trading above the IV, the protocol expands supply, and sells $KLIMA to the market - because the protocol can create more supply, as long there is the IV backing the token, it generates excess reserves from the spread between IV and market price.
- When $KLIMA is trading below IV, the protocol buys and burns $KLIMA, contracting supply - because it buys the token under the intrinsic value, the protocol bolsters reserves per $KLIMA from the spread.
To get $KLIMA, you've got two main options:
- first, you can bond carbon credit tokens that Klima DAO partners offer. When you do this, they'll exchange those carbon credit tokens for $KLIMA tokens.
- buy and trade $KLIMA tokens on other platforms like third-party token exchanges. You can use different crypto tokens that run on the Polygon blockchain to do this. So, there are a couple of paths to get your hands on those KLIMA tokens!
So what's next for HYVE
Token integrations were one of our trademarks, but what happens when you upgrade it to the next level? You might wonder what we mean by that, just to provide you with a hint, we are talking about infrastructure.
An upgraded infrastructure means even further diversity in payment, thus allowing freelancers more options and the reduction of fees. Alas, we are giving you too much info - follow us on X for the latest details!