KlimaDAO expand carbon offset treasure by 14 million in two months

  • KlimaDAO has accumulated over 14 million on-chain carbon credits and is now making ripples in the traditional carbon offset market.
  • KlimaDAO aims to purchase as many carbon offsets as possible to raise their value and boost their profitability.
  • By boosting expenditure and expanding its offset sources, the carbon offset accumulating DAO on Polygon has rapidly raised the number of offsets it has in its treasury.

Treasure of Carbon offset tokens

Since late November 2021, the treasury of the Mark Cuban-backed venture has given around 5 million carbon offset tokens, currently increasing the total to 14.5 million.

Toucan Protocol tokenizes and bridges its offsets to Polygon (MATIC) in the form of Base Carbon Tonnes (BCT) and Moss’s new MCO2 tokens, which were introduced to the treasury on January 6. KlimaDAO now controls the vast majority of the 17million BCTs in existence.

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The organization spends  $100 million on offsets.

Offsets cost the decentralized autonomous organization $100 million. The majority of the $100 million spent on offsets came from bond sales, which were used to boost the DAO’s available capital. Users may save money on bonds by purchasing them using KLIMA, the project’s native cryptocurrency.

The DAO raised the discount on KLIMA bonds on January 6 in order to help generate the funds needed to acquire more offsets.

The DAO’s quick purchasing of carbon offsets has caught the interest of Gold Standard, a traditional carbon offset provider. In the Wall Street Journal, CEO Margaret Kim criticized the DAO, claiming that the project’s anon team faced transparency difficulties.

We will do whatever it takes to succeed: KlimaDAO

In the January 10 audio episode, KlimaDAO creator Archimedes also addressed the topic of anonymity and trust.

The team also informed that established organizations, such as Gold Standard, “may want more regulatory information on how the DAO functions lawfully” in order to be comfortable with the project’s fast expansion.

“We are prepared to do whatever it takes to make the DAO thrive,” the KlimaDAO team claimed, indicating that it is willing to take on the long-term difficulties associated with carbon offsets on the blockchain.

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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