Request for Comment - Flow Carbon/Goddess DAO X KLIMA Collaboration

Clikkr

GoddessDAO I'm confused then - how can a GNT be a bundle if it is always equal to 1 GCO2 token? What exactly are bundled together to create the GNT?

GoddessDAO

Clikkr The total number of GNT tokens equals the total number of GCO2 tokens held in the contract. Each GCO2 token equals 1 ton of carbon.

stakedtr3333

Sounds great!

GoddessDAO

ashleycrewdson yup you are correct!

ranadorada

Would love to learn more about their approach to project development and pipeline development. Besides the tokenization, what differentiates them from the dozens of brokers and marketplaces out there?

Clikkr

GoddessDAO oh ok - now I understand. So when you lock the GCO2 tokens up in the contract it'll create multiple GNT tokens.

So when a single VCU is taken out of a bundle, is a GNT burned?

GoddessDAO

asincuka They will be separate. And should anything happen to Flow, the carbon assets are held in a separate entity that is protected, professionally managed, and will be controlled by the DAO.

ashishpatel

Goddess is a DAO that isn't live yet, hasn't signed a contract with Verra yet, and is still doing a presale requiring 10k min of USDC or wiring FIAT. Isn't it kind of early to be bringing up a potential bonding with them, given their project might not even go live for a while?

ashishpatel

ashishpatel Also I HIGHLY doubt they're certified by Verra, so not really sure what the point of supporting this proposal to even a VOTE is, given that a) verra hasn't approved anyone since their notice last month, how is this DAO going to plan to NOT only bring things on chain, but a 2 way bridge to take things OFF chain?!?!

neekolas

Huge thumbs up on this!

sodiumstar

ashishpatel This doesn't make any sense. Why would VERRA have a problem with what they do? In constrast to Toucan they don't seem to retire the credit in the off-chain registry when they tokenize it. They just lock it somewhere. So burning the token and at the same time releasing the original contract is how they can get it back off-chain.

GoddessDAO

ashishpatel We have been working with Verra to obtain their approval since before those posts were made.
We are trying to build an ecosystem that can harmoniously exist with the existing entities in the carbon space, while building an open, transparent, market with deep liquidity. We think that some of the existing players with VERRA accounts, are going to be very happy to buy tokens on-chain, but will for a variety of reasons want to take them back off (for example they aren't comfortable with holding custody of their asset on-chain for long periods of time). We also think that being able to take things back off will give people comfort when bringing them on-chain, just as most USDC that comes on-chain never goes back off, the knowledge that it can provides comfort, especially to new entrants into the space.

D_NKN_T

Hey, a few questions:

How does the unwrap work? Suppose you have 10 projects in the treasury, then how will u link the wrap of the token with underlying carbon?
All the credits need to be of at max 5-year vintage. What will happen to the credits that remain in the treasury even after 5 years have passed. Do u release them back to the market?

GoddessDAO

D_NKN_T Great questions!For a 5% fee you can select a specific GCO2 to unwrap. Or for free you can unwrap whatever is up next for retirement, which is the oldest vintage.

the 5 year rolling vintage is for what can be added to the token, ie in 2023 you will only be able to add 2018+ vintages. When users retire GNT, off-chain we will retire the oldest vintages in the pool.
So it is possible for there to be vintages in the pool that are older than 5 years but not for long, as they will be retired out.

LeonidasEatsAss

GoddessDAO ~~For X3~~

AGAINST (Until future date when DAO is operational)

What are benefits of "unretired credits" to a corporation?

Is it akin to having your credit extended on a credit card i.e. you haven't cut up your credit card instead as long as you make monthly payments you keep your allowance?

Retired Carbon Credit is:

Unretired Carbon Credit is:

EDIT: Just went through your resources and it's WAAAAAY too early for partnership at the moment - the credits aren't even on-chain yet and your website shows no hint of formal partnership with any 3rd parties - no bridge and any attempt to purchase a credit links to an internal mailto 🥴

Albert1975

Great! Yes!

bananab3

anyone know what the motivation is to prioritize the flow carbon/goddessdao partnership? i'm not suggesting it's a bad idea but they seem very very new (ie they haven't done anything yet). the team at flow carbon seem smart but also a bit inexperienced? would just like to know more about it all (and as someone else pointed out, moss is much more of known quantity so seemed like a no brainer in comparison).

bOHMb

GoddessDAO hello, I’m
In favor of all good integrations. someone posted this below as well and my question concern is about whether isn’t that too early for this integration? That is, GNO token seems not to be in existence, DAO is not existence, pre sale of tokens with investment limit of 10k usd, no collab contract with Verra. I mean, partnerships will be key for Klima and the project but we must be selective the partners or have a view and reasons from the partnership team why we choose this path given all consideration.

Phoenixfire

GoddessDAO

A valid concern in our discord:
"Hey everyone, regarding GNT, it's kind of odd to put out a proposal this early isn't it? We're talking about a project, that hasn't even launched yet, is still doing pre-sale for tokens, asking for 10k USD minimum investment, and their discord is bare, along with about a 100 twitter followers. Compare this to MOSS, which is a project alrady existing, and is out there.
on top of that, they haven't even finalized their contract with Verra (they're in "bilateral" agreements according to the discord)"

I am personally against going forward with this proposal at this point in time. Perhaps later we can revisit this, in the meantime of course we support what Goddess DAO is doing and we hopefully partner in the future when both projects are more developed

LeonidasEatsAss

Phoenixfire I concur. Ambitious project if it happens but first step is for them to formalise agreements and actually get some carbon credits on-chain (with high liquidity)

lotm

The 2 way bridge technology is great and I would love for Klima to bring these tokens into our treasury... in the future when they are live and when we can start bonding as soon as a vote passes. We need to onboard credits, not promises thereof.

TheLawyer

jasonstevanhill I will be in contact with Flow Carbon to sort this out. But please, don't focus on small things. let's not forget that will can be formed in many ways, and a smart contract can has obligations even in real life. I will write on this :-)

DTMtrades

Let's do it.

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