Klima DAO (KLIMA)
Basics
- Based in:
- Started in / Announced on: 9-7-2021
- Testnet release:
- Mainnet release: 10-2021
- From Our Network (11-12-2021):
"KlimaDAO is an Olympus fork on the MATIC network that aims to provide liquidity to traditional carbon credit markets by bringing the assets on-chain. Its KLIMA token is backed by BCTs that are retired by verified registries."
History
Audits & Exploits
- A static Bug Bounty program with a maximum rewards of $2.5m is available (8-11-2021).
- Scored 33% on DeFi Safety (8-11-2021):
Activity is over 100 transactions a day on contract KlimaTreasury.sol, as indicated in the Appendix. No contracts are covered by software function documentation. As per the SLOC, there is 55% commenting to code (CtC). As per the SLOC, there is 11% testing to code (TtC). No testing for coverage was documented. No report was found. No formal verification testing was found. No audit has been performed on Klima.
Bugs/Exploits
Governance
Admin Keys
- From DeFi Safety (8-11-2021):
"No access control information is documented. No pause control is documented."
DAO
Treasury
Token
Launch
Token Allocation
Utility
Other Details
"As opposed to initially backing the native currency with DAI, as is the case with OlympusDAO, KlimaDAO will back the token with Base Carbon Tonnes (BCT) at a 1:1 ratio. Base Carbon Tonnes are tokenized versions of Verified Carbon Units, which are certificates used to validate emissions reductions within the Voluntary Carbon Market. Therefore, $KLIMA is a carbon-backed currency."
Stablecoin
Coin Distribution
Technology
- Whitepaper can be found here.
- Code can be viewed here. From DeFi Safety (8-11-2021): "At just 11 commits and 2 branches Klima's development history isn't going to be cited for any climate change reports in its current state."
Implementations
How it works
Fees
Upgrades
Staking
Validator Stats
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
Privacy Method
Compliance
Their Other Projects
Roadmap
- Can be found [Insert link here].
Usage
- From Our Network (11-12-2021):
"Following its much anticipated launch in October, the protocol briefly reached over $1B in TVL and market cap. While down over 60% in the aforementioned metrics since, its treasury has doubled its total locked carbon credits to over 12M metric tonnes. Carbon retirements saw a massive surge to 18M metric tonnes in October, as cheap credits were brought on-chain en masse. In a span of 2 weeks, over 8.8M BCTs were in circulation –meaning that Klima was responsible for nearly 50% of the global carbon market's monthly volume. However, on-chain data reveals that volume dramatically tapered in the following weeks, with daily mints dropping from 3.3M to 25K as of Dec 10. With BTC's price suffering a weekly decline of 30%, there is less incentive to purchase and retire credits via traditional carbon exchanges at the moment."
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- Full team can be found here (8-11-2021).
Funding
Partners
(:
Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
