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Summary
Introduce MCO2 into the treasury, by adding MCO2 as another asset that Klimates are able to bond.
Motivation
MOSS is focused on catalyzing climate action and facilitating a carbon market on-chain. Our carbon token has been utilized by corporates such as SkyBridge, One River Asset Management, and GOL (a major Brazilian airline with >50 million customers in LatAm) and is listed on various exchanges, including Coinbase. We believe having multiple carbon assets and bridges will lead to a more robust on-chain carbon market and help diversify Klima’s treasury. Klima’s liquidity engine stands to empower the carbon market and we believe our supported projects and the infrastructure we have built will help expand this impact.
Proposal
MOSS Earth is a protocol that aims to tokenize carbon credits onto the blockchain, similarly to the Toucan Protocol. While Toucan allows for a wide variety of credits to be tokenized, MOSS focuses on carbon credits that come from nature-based projects utilizing the Reducing Emissions from Deforestation and forest Degradation methodology (REDD+). The ‘+’ signifies that these projects also positively impact local communities through various social and economic initiatives. All of our projects are certified via Verra, the largest and most reputable carbon verifier.
We propose to have MCO2 reserve bonds as the next asset in Klima’s treasury. Because this asset is liquid enough on other platforms such as Coinbase and Gemini, there is less of a need for the bootstrapping of liquidity to come from us. If adequate, a KLIMA-MCO2 bond can be opened up to provide liquidity. Currently, there are already over 3 million MCO2 tokens available across Ethereum which can be easily bridged to Polygon via their official bridge. For transparency, we invite you to examine the following resources:
Tokenization process and data
Latest audit report
Furthermore, to facilitate this joint partnership, the MOSS team will bond 15k tons and collaborate to jointly market this effort in catalyzing the DeFi carbon offset market. This collaboration includes the following pledges from MOSS:
Should KLIMA-MCO2 bonds be of interest, we will provide $500,000 worth of MCO2 tokens to Polygon to pair with $500,000 of KLMA from the DAO to form a liquidity pool. This will be shared between us and the Klima protocol.
MOSS pledges to engage in joint-marketing efforts with KlimaDAO to accelerate the development of DeFi carbon markets. Part of this effort includes providing KlimaDAO with $30,000 in funding for marketing efforts.
Vote:
For: Introduce KLIMA-MCO2 and MCO2 bonds
For: Introduce MCO2 bonds only
Against: Do not introduce KLIMA-MCO2 and MCO2 bonds