Discover more from Kuoka's Carbon Flippening
Automatic | Web3Carbon Week #41
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
👩🌾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.
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.
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.
SeafieldsSL, a company specializing in ocean-based blue carbon projects, announced to tokenize up to 1 billion tons of CO2 exclusively with JustCarbon
Newly Added Projects to the Kuoka Repository:
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!).
New Kuoka Feature: Recently Added Projects
The new list helps you to track changes in the kuoka web3carbon project repository: