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

jasonstevanhill

My concern here is jurisdictional: New York is extremely inhospitable to crypto.

I recognize that the Goddess DAO will be notionally independent from Flow Carbon, but I don't know that the NY AG will see it that way. I fear that the connection between the two will be a pain point for Flow and subsequently for any assets that Klima accepts into its treasury.

https://ag.ny.gov/sites/default/files/cease_letter_redacted.pdf

Now, if you tell me that Flow is going to register with NYS and receive a BitLicense, then that's great, but I don't see anything here about that.

https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses/bitlicense_faqs

Wahndo

jasonstevanhill great question

GoddessDAO

jasonstevanhill Goddess DAO will be domiciled offshore, and the SPV is in Delaware. We have spent a good amount of time with legal making sure we are covered here.

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 :-)

omegawan

Anything to make the price of Klima go up XD

chp

sig

Retiring them is an on-chain action of the holder. As long as KLIMA is the holder, they cannot be retired.

Wahndo

I'm for expanding Klima's treasury to include high-quality tokenized carbon projects in this space given solid due diligence and rationale. Looking forward to a AMA with Flow Carbon / Goddess Dao to hear more.

KlimaMag

GoddessDAO
I can see how being an offshore entity can be good for all the legal stuff. But won't it go against the purpose of the DAO? If it is a legal entity that would mean that someone (one individual or more) would be in control. And the rest of us would have to trust that these people do what the DAO decides. Or is it set up another way? Please enlighten me

rrrmmmmm

GoddessDAO How transparent will the SPV and its actions be to the DAO and to Klima holders?

GoddessDAO

melloone We plan to work with the KLIMA marketing team to get the biggest bang for our buck.

flowgirl

Mellow it's totally different. Goddess tokens are unretired offsets, meaning they are live assets that fully retain their off-chain value, and can be retired by the token holder. This also means they are usable by corporations, who will not buy retired carbon offsets. Lastly, the first pool of GCO2 tokens are higher quality, nature-based only which is what corporations will buy and there are already corporates and companies lined up to buy the token for their offsetting.

Mellow

flowgirl thanks for the explanation! I get it now. Thats actually bullish af. 😃

GoddessDAO

Mellow We are set up quite differently than Toucan. Our credits remain un-retired when they came on-chain. So far we have not seen a DAO to govern the Toucan bridge.

GoddessDAO

sig Klima Infinity is in development which provides carbon custody and continuous carbon offsets as a service for organizations wishing to invest in Klima as an instrument in their sustainability plans and/or as a native green asset for their decentralized finance (DeFi) activities.

A GNT token held in the treasury or by anyone cannot be retired so long as it is held. In order for an off-chain retirement to take place, a GNT token has to be removed from circulation first.

sodiumstar

Yes! A two-way bridge is great new feature by which we hopefully gain some additional FUD resistance.

Although it's not clear to me how the market will value GNT tokens since these combine the value of the underlying carbon credits as well as a premium for DAO governance. This also means that their value might be a lot more volatile than BCT. What about bonding in times of high GNT valuation? Is "paying" such high premium a risk for Klima DAO?

GoddessDAO

sodiumstar There will be a separate DAO token - so the GNT shouldn't trade at a premium for governance.

syzygy

sig What is Klima Infinity?

It's a program we're launching to incentivize long-term carbon custody and offsetting through the underlying tokenized carbon value growth of $Klima. It'll include important aspects such as an opt-in public pledge standard, a footprint v. carbon assets dashboard as a service and some other useful tools/incentives to help organizations on their journey to publicly offset their negative externalities. Stay tuned 🌳

Coud

a two way bridge is a must! great invention guys!

flowgirl

Coud Thanks Coud!!! We agree 🙂

Clikkr

Are the GNTs all consistent in the volume of GCO2 tokens included in the bundle (are some GNTs bigger than others)? If not, how does KLIMA plan on accounting for GNTs of varying carbon tonnage?

GoddessDAO

Clikkr 1 GNT = 1 GCO2 = 1 ton of carbon

saunahiid

Love it!

GoddessDAO

rrrmmmmm As transparent as technologically and humanly possible.

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?

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