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."

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.

Governance

Admin Keys

• From DeFi Safety (8-11-2021):

"No access control information is documented. No pause control is documented."

Token

Other Details

• From Bankless (22-10-2021):

"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."

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

• Built on: fork of Olympus, Polygon based.

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."

Team, Funding and Partners

Team

• Full team can be found here (8-11-2021).

(:

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.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31