Attributes
- **Author(s): Nigel Dollentas + Adam Liposky
- **Recipient(s): Nigel to be delegated to buy on-chain carbon credits
- Category: Imbursement
- Fulfills: N/A
- **Related Installments: N/A
- Asking Amount: What is the sum of POKT being requested? 10,000 POKT/month (or more, depending on carbon output)
Summary
Allocating an amount of wPOKT/POKT/USDC to market buy carbon tokens from Toucan protocol. This can be executed by me, Adam, or the Foundation if trust is a concern.
Abstract
We’d like to buy on-chain carbon credits issued by Toucan Protocol to offset Pocket Network’s carbon footprint.
For reference, Toucan is the primary lego/primitive (think Maker creating DAI, Spell creating MIM, etc.) and Klima is something built on top (Yearn Finance to complete the DAI analogy).
Motivation
Explain why the endowment/relationship is worthwhile. How will it benefit the Pocket Network ecosystem? What is the expected ROI?
The main and primary objective is offsetting Pocket Network's carbon footprint
.
To give readers a sense for carbon outputs on a per server basis.
- Cloud server using 100% green electricity: 160 kg CO2e / year and server
- Cloud server using non-green electricity: 458 kg CO2e / year and server
- On premise or data center-server using 100% green electricity: 320 kg CO2e / year and server
- On premise or data center-server using non-green electricity: 916 kg CO2e / year and server
- https://www.goclimate.com/blog/the-carbon-footprint-of-servers/
- Dell estimates about 1000 KG per year on a light grade server: https://i.dell.com/sites/content/corporate/corp-comm/en/Documents/dell-server-carbon-footprint-whitepaper.pdf
At this point, we are 30,000+ nodes strong. This means, at best, we are emitting about 5M KG equivalent or 5500 tons of C02 equivalent yearly. In the worst-case scenario, it’s more along the lines of 14.2M KG C02 equivalent or 15650 tons of CO2 equivalent.`
Purchasing these tokens and subsequently retiring on them on-chain through Klima will help us go green, carbon neutral, and eventually zero carbon (in that order).
Further, There are a few excellent marketing angles here as well:
- If Pocket Network becomes green, so do the chains that we support. Cryptocurrencies, nft projects, apps in general now have an easy way to become green and decentralized at the same time.
- This is an additional differentiator from Alchemy, Infura, etc.
- Synergies incredibly well with wPOKT. Regen finance is wPOKT, and so is this regenerative finance.
Needs Being Met
Carbon neutrality is yet another angle we can point to as a benefit over traditional providers, making it painfully obvious that Pocket is the right choice.
Budget
Outline in detail how the funds will be deployed. All funds must be accounted for or your proposal will not be permissible.
- $10,000 or more of USDC or POKT(which will be converted to USDC via OTC, bridging to wPOKT , or CEX by the proposer) is used to buy carbon tokens monthly from Toucan protocol on Polygon in perpetuity.
- Carbon tokens are retired every 3 months (or more frequently) to offset our carbon.
- A designated person(s) reports to the broader Pocket community every time tokens are purchased and retired.
Rationale
Cheaper alternatives would be going directly to Vera/Terrapass/another third party non crypto provider and purchasing directly from them.
This was quickly discarded in lieu for Toucan Protocol for exponentially higher liquidity, competitive pricing, and the future optionality doing this on chain holds (as well as various aligned ethos/philosophical reasons).
The $10,000 number monthly was chosen for its roundness, and for a little bit of futureproofing. Side node, this proposal started when we were at 18,000 nodes and we’re past 31,000.
Dissenting Opinions
Acknowledge all opinions which disagree with the rationale of this proposal.
Opinion: Pocket doesn’t emit THAT much C02.
Answer: If we take the average of above calculations, we’re emitting around 10,000 tons of C02 yearly. To contextualize that, 50 trees must grow for a year to capture 1 ton of C02.
Deliverable(s)
The proposers of this proposal will be responsible for sourcing on-chain carbon offsets.
@Nigel Dollentas will use on chain node count to calculate carbon offsets, buying and retiring the appropriate amount per month. This task could also be multiple people, if roles should be divided. The process would look as follows:
- This proposal is successfully passed.
- Funding is secured/allocated to @Nigel Dollentas on a monthly basis
- @Nigel Dollentas trades tokens for carbon offsets
- @Nigel Dollentas retires carbon offsets as necessary to ensure a monthly carbon offset
- @Nigel Dollentas provides accurate reporting to the DAO/Foundation
Contributor(s)
I (Nigel Dollentas) volunteer as lead who will do the above listed in Deliverables. If others are brought on, the process will be transparent and available for anyone to see at any time.
Copyright
Copyright and related rights waived via CC0.