Limenet leverages KlimaDAO’s innovative governance mechanism to fund and remove carbon dioxide from the atmosphere.
Dubai, UAE, April 19 – Limenet – a carbon dioxide removal (CDR) start-up based in Italy, has leveraged KlimaDAO’s innovative governance mechanism for funding high-impact sustainability projects to finance a pilot project in Italy.
KlimaDAO has a treasury of USDC – a blockchain-based stablecoin pegged to the United States dollar, and carbon credits. It deploys a community-driven decision making process that allows its idle USDC to be allocated towards carbon projects that will subsequently be distributed via its blockchain-based infrastructure and strategic partners.
KlimaDAO’s governance process relies on community members, including a growing consortium of veteran industry players, to appraise capital allocation activities, and vote to ratify any decisions using the token voting system.
As an early funder and first offtaker of the Limenet credits, KlimaDAO will receive the delivery of 1,000 CDR credits to its treasury – representing the first issuance of such tech-based carbon RWAs on the blockchain. KlimaDAO then intends to facilitate a market for these assets and list them exclusively on Carbonmark – a strategic distribution partner.
Carbon dioxide removal credits are crucial for sustainability strategies as they enable the compensation of unavoidable emissions, aligning business practices with global climate targets. This process not only mitigates environmental impact but also enhances corporate reputation and compliance with increasing regulatory demands.
Organisations such as Limenet are able to leverage the KlimaDAO treasury to gap fund their initiatives as they attempt to scale to meet increasing market demand for carbon removals.
The Limenet credits are available to pre-order on www.hub.carbonmark.com.
Ahead of appearing on a panel at TOKEN2049 Dubai titled ‘Tokenizing Real World Assets: Next Generation for Markets’, Andrew Bonneau, Co-Founder of KlimaDAO, said:
“This offtake agreement highlights KlimaDAO’s role as an early-stage impact allocator. By facilitating the first Direct Air Capture tokenization, we have the ability to enable a liquid ocean alkalinity enhancement credit market. Distributed ledger technology will track the provenance of these credits, dMRV data will be viewable on-chain, and markets will be accessible 24/7. We are setting a new standard for environmental assets on a global scale.”
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