Introduce new Blue Carbon Based Offset [Blue Carbon] (BLUC) pool into the web3 space, by supporting liquidity in a new pool launched by C3
Mangroves are outstanding trees for “no regret” restoration: they store up to 5x more carbon and sequester it up to 40x times faster than terrestrial forest, protecting the shore, and serving as a food reservoir for the local population. Mangrove restoration projects normally allocate substantial share (30-80%) of the carbon benefits to local communities, contributing to alleviation of poverty and long term ecosystem stewardship.
Mangrove DAO's mission is to restore degraded mangrove habitats in Myanmar and globally. Mangrove DAO is governed by MANGROVE tokens issued on Polygon. Each MANGROVE token represents 1 planted tree in the mangrove restoration project and the respective governance right. In the next 15 years Mangrove DAO is going to receive 160-200k tCO2 from VCS 1764 mangrove restoration project in Myanmar and envision building high-quality blue carbon removal pools, supporting the ReFi ecosystem on Polygon blockchain. See About Mangrove DAO section for more information.
We believe in the power of communities and open blockchains to bring the needed funding into scaling of high-quality climate projects. TREE Coin launch in 2017 and Klima DAO in 2021 were great examples of this just-in-time coordination.
Mangrove DAO proposes the creation of a Blue Carbon (BLUC) reference pool and seed it with 4000 tCO2 (TCO2-VCS-1764-2020 tokens, VCS 1764, BeZero rating: AAA).
Methodologies: CDM AR-AM0014, VCS VM0033
Cutoff vintage: 2014
For: Support the creation of a BLUC pool
Against: Do not support the creation of a BLUC pool
About Mangrove DAO
In 2017 crypto enthusiasts community crowdfunded over $1 mln on Lykke Exchange to support the planting of 1 mln mangroves in Thor Heyerdahl Park (Myanmar). The park developer is Worldview International Foundation (WIF), non-for-profit organization led by Dr.Arne Fjørtoft, one of the world's most respected eco heroes. The digital rights were recorded in TREE Coin (Heyerdahl Climate Pioneers) - a colored coin on the Bitcoin blockchain. By 2018 WIF mangrove restoration project was registered on Verra (VCS 1764) with estimated annual emission reduction of 184’006 tCO2. In 2021 TREE Coin was converted to MANGROVE token, a governance token of the Mangrove DAO on Polygon blockchain to support the TREE coin project with novel governance mechanisms. The confirmed commitment from WIF is to pledge 8% of all the total carbon yield value (post Verra buffer) to Mangrove DAO starting from the 2021 vintage. On average 13’200 tCO2 per year is expected in the next 15 years (subject to non-delivery risks). In 2022 WIF transferred 4’331 tCO2 to Vlinder, Austria-based blue carbon specialist and digital carbon market, appointed as an agent for tokenization. 4’200 tonnes, subject to 3% tokenization fee, were tokenized by Vlinder via Toucan Protocol: TCO2-VCS-1764-2020, and transferred to Mangrove DAO. In June 2022 Mangrove DAO community voted to distribute 99% of tokenized credits to create a Blue Carbon Reference Pool.
Mangrove DAO web-site: https://mangrovedao.earth
TREE Coin story: https://medium.com/@mangrovedao/tree-coin-story-2bce6723d496
Case Study of Singapore Management University on WIF & TREE Coin: https://www.academia.edu/37053350/Miracle_Mangroves_and_the_Funding_of_Green_Shields_in_the_Bay_of_Bengal_Casework_on_Sustainable_Resource_Management