Automatic | Web3Carbon Week #41

Nov 28, 2022

Friends,

This week: Automatic offsetting and passive impact funding
+ Updates from 7 web3 carbon projects
+ 4 newly added projects to Kuoka repository
+ ReFi Zurich recap
+ New Kuoka feature: recently added projects

Automatic Offsetting and Passive Impact Funding

Wouldn’t it be convenient if offsetting our carbon footprint was automatically integrated in our daily live? Another example of this idea launched this week: ♻️Return Protocol went live with app.return.green: It showcases how companies can integrate carbon legos into products on a per transaction basis in a simple-to-use way.

First, Return Protocol helps crypto users to automatically offset all the carbon emitted from their individual on-chain behavior. app.return.green offsets historical blockchain emissions on a per wallet and per transaction basis. The app calculates the emissions automatically based on the history. Users can also add multiple wallets.

Second, Return Protocol offers its users to deposit crypto currencies (currently USDC) to generate yield. The yield is then automatically directed towards climate impact. Using this app, users can passively create the funds to reduce CO2 emission.

(Also compare the deposit/yield application with 🍥 Spirals Protocol’s climate impact staking app which offers a similar service.)

After setting up the return app, paying for the offsets and depositing the USDC, Return Protocol mints an “impact identity” as an NFT. It tracks the users historic carbon impact.

One can imagine that a growing number of companies will start adding composable on-chain carbon to their products following a similar path as Return Protocol, to help users offsetting automatically.

Why is this interesting and novel as compared to legacy carbon offsetting services? These on-chain offsets are automatic and the retirements are verifiably linked to the user. The individual impact is publicly viewable, verifiable by everyone on a decentralized ledger and can be traced back to the carbon offset project. Similar services will be very difficult to build on a legacy infrastructure.

Web3/Carbon Project Updates

Kuoka.earth tracks the progress of the 100 most promising web3carbon projects. Here’s the updates of the week.

👩‍🌾Regen.network (Ecological Assets, regen.network)

Regen Network and Cosmos’s Interchain foundation launched a program (Cosmos Zero) to make it terribly easy for currently over 260 app chains in the Cosmos ecosystem (e.g. Osmosis, Juno,…) to offset their carbon footprint of 2022 and achieve net zero. There are three simple steps to follow for the chains: First, they have calculate the protocol's or validator operations' carbon footprints (can be done automatically). Second, they need a governance proposal. Third, Regen offsets the protocol’s carbon footprint. Cool initiative.

🍧KlimaDAO (Carbon Reserve Currency, klimadao.finance)

Liechtenstein Bankers Association launches a climate-positive NFT in collaboration with KlimaDAO
KlimaDAO made its answers to the Gold Standard Consultation regarding Tokenization public
KlimaDAO published a thoughtful piece about The eight principles of a regenerative economy
Hugh Brown wrote-up a long form explainer on Why Web3 will accelerate carbon project financing. Good insights into VCM supply-side innovations enabled by blockchain technology.

👩‍💻Thallo (Carbon credit exchange, thallo.io)

Thallo releases its Litepaper about its two-way carbon bridge

🥦RefiDAO (ReFi Community, refidao.com)

RefiSpring and ReFiDAOist launch the ReFi Rabbit Hole working group and are looking for collaborators to collaboratively answer the question "What is ReFi?". Interested collaborators can fill in the form.

🍥 Spirals Protocol (Climate Impact Staking, spirals.so)

Climate Collective showcases its new member Spirals Protocol

🏵️JustCarbon (Marketplace to trade carbon credits, justcarbon.com/)

SeafieldsSL, a company specializing in ocean-based blue carbon projects, announced to tokenize up to 1 billion tons of CO2 exclusively with JustCarbon

💳Cred (Green Currency for the metaverse, credprotocol.io/)

Cred announced to be integrated in Tatum's metaverse tech

Newly Added Projects to the Kuoka Repository:

🐿️Hazel (Climate impact web3 game, hazelverse.xyz)
🌿Kakubi (On-chain compliance carbon market, kakubi.com)
🥚Frigg (Digital green bonds, frigg.eco)
🌳Gainforest (Continuous AI-based forest monitoring, gainforest.earth)

ReFi Zurich Recap

On Saturday, the first ReFi Zurich gathering took place at the University of Zurich, Switzerland. Unfortunately, there are no recordings, but you’ll find impressions from all the sessions in this twitter thread (click!).