Proposal: Allocate a one-time grant of 75,000 USDC to support and sustain Provide ECO through Q1 2024.
About Provide ECO
Provide is thrilled to introduce ECO as a first of its kind integration between Fortune 500 supply chain systems such as SAP or ServiceNow and the KlimaDAO carbon retirement aggregator by way of Provide Payments*. Specifically, we have built and released a new API for retiring carbon which supports the KlimaDAO retirement aggregator. We are excited to report that this API is live on Polygon Mainnet. Check out our video overview of ECO here. If you prefer to skip right to the demo featuring SAP S/4 HANA click here.
We are very grateful for the support we have received from the KlimaDAO core team and broader community so far. ECO will enable large enterprises with millions of metric tonnes of carbon emissions and dedicated sustainability budgets to seamlessly use KlimaDAO for their carbon offset and retirement needs. Long term, this drives exogenous, recurring demand for digital carbon, thereby greatly improving the state of the market for KlimaDAO and ReFi as a whole.
To put the market opportunity in greater context, consider the following data available on the carbon emissions of the Fortune 500:
7.56 billion tonnes CO2 Reported F500 emissions
13.15 billion tonnes CO2 Total estimated F500 emissions
(source: Recapture Inaugural 2021 Report on Fortune 500 Carbon)62% of companies are headquartered in a country where a net zero target is legally-binding
(source: Climate Impact Partners 2022 Report)
Various sources confirm the Fortune 500 collectively account for several billion metric tons of carbon emissions annually. Even if carbon emissions of the Fortune 500 were to fall by 70% or more in the future – in keeping with net-zero mandates – ECO will capture considerable, otherwise-untapped market demand for carbon retirements and service this demand using KlimaDAO. Provide ECO ultimately differentiates KlimaDAO from all of its on- and off-chain competitors.
- Provide Payments is built with the PRVD stack, a leading open-source web3 infrastructure project.
Our Ask
Provide is seeking financial support from the DAO to further catalyze the advancement of Provide ECO in the marketplace. Please approve a one-time grant allocation of 75,000 USDC to accelerate delivery of ECO to Fortune 500 enterprise customers with first-class, commercially supported integration for KlimaDAO via Provide Payments.
Why Now?
While ECO is extraordinarily promising to both Provide and the DAO, enterprise adoption takes time and requires dedicated resources to support in production. This grant request will cover go-to-market expenses for deploying and supporting ECO and the KlimaDAO integration in production and allow us to onboard enterprise customers.
Proposed Use of Funds
Retrospective Reward $15,000
This is to reward the prior time, effort, and expense taken on by Provide to produce a working production-ready integration of the carbon retirement API supporting KlimaDAO and the SAP Fiori UX integration with this API in proUBC as shown in the video.
SAP/Enterprise Landscape Support $10,000
Provide operates a full production instance of the PRVD stack, an entire SAP development sandbox, and a ServiceNow development landscape. This gives us higher infrastructure costs than a typical web3 startup. This budget line item helps defray some of those costs and expand user access to the environment to several KlimaDAO team members
Features Enhancements $25,000
Provide has developed a production-grade initial release of the ECO carbon retirement API. This API needs ongoing development and quality assurance efforts related to accounting and security as well as other features identified by organizations seeking to use ECO as their solution for retiring carbon. We'll also prioritize enhancements that enable enterprise users to select carbon retirements by region, vintage, project type and other characteristics.
General, Operations, Marketing Support $25,000
Activating ECO with enterprise customers will take weeks or even months to advance the business case with corporate leadership and coordinate with a company’s IT and procurement teams to deploy and coordinate the technical resources needed to adopt the solution.
Additionally, this grant allocation will solidify our decision to position ECO prominently in marketing and sales efforts targeting corporate decision makers who drive IT and business strategy at large enterprises. These activities will inherently benefit KlimaDAO whenever Provide attends enterprise-specific trade events that typically would not otherwise be a part of Klima DAO’s promotional calendar.