Klima DAO - $KLIMA

Code Review - 12/22/2021

Marcus Kelly avatar
Written by Marcus Kelly
Updated over a week ago


Klima DAO is building an open-source, transparent community that will leverage the power of Web3 to deliver immediate and measurable climate-positive impact. The DAO is a collective of environmentalists, developers and entrepreneurs who aim to pool their knowledge and expertise to drive change in the carbon markets, today. It is an evolving network coordinating the delivery of climate finance toward high-impact and validated sustainability projects which produce tangible environmental benefits. Klima’s goal is to accelerate the price appreciation of carbon assets.

A high price for carbon forces companies and economies to adapt more quickly to the realities of climate change, and makes low-carbon technologies and carbon-removal projects more profitable. It also functions as a bridge between Web3 and the traditional carbon offset markets, enabling flows of capital to be directed to high-impact carbon projects that have a tangible impact on our global carbon budgets. Klima DAO's approach aims to enable building a climate innovation nexus that can quickly coordinate and execute high-impact sustainability initiatives, standardize best practices across the DeFi space, and grow a community of technical experts to accelerate action. The long term goal of the DAO is to catalyze climate impact and manifest its vision of a more sustainable future.

Klima DAO gives Web3 builders and users the opportunity to participate in the carbon market through the KLIMA token, a carbon-backed, algorithmic currency. KLIMA tokens are:

- Fungible: per the ERC20 token standard

- Backed: by at least 1 ton of tokenized verified carbon offsets locked in the Klima DAO treasury

- Useful: holders of KLIMA will have the ability to vote on Klima DAO policy

Therefore, the DAO serves the role of "de-central" bank, governing the monetary policy of this new carbon-backed currency, just as a central bank governs the monetary policy of a fiat currency. Over time, the team plans on building an economy around KLIMA by driving adoption and unlocking growth of the crypto-carbon economy. Klima DAO is being developed on transparent and open-source infrastructure, meaning participation from Web3 developers, carbon projects, and climate experts are welcomed, to both build this new economy and be rewarded for their contributions. Klima DAO was inspired by Olympus DAO. It was conceptualized and built by a distributed pseudo-anonymous team. As a DAO-governed protocol, all decisions are formed by community members on the forum and made by KLIMA holders through snapshot voting.

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