ReFi Roundup #13: Misaligned climate funding, ECORISE Launch, First Moss Vote
Hello ReFi Friends! 👋
Ben Noel again with this week's edition of the ReFi Roundup newsletter. It's an exciting time to be a part of the #ReFi movement - if you're interested in learning more about ReFi, getting involved in the movement, or have a story you want included in the newsletter, reach out to us @ReFiDAOist!
VC Funding and Emissions Impact not Aligned
The amazing team at Climate Tech VC put together a report this week comparing the emissions reductions potential of various technologies and the share of venture capital funding these technologies receive. Spoiler alert - there are some huge mismatches.
The most surprising of these is vehicle electrification. In the past two years, about $10 billion has flowed into electric vehicle companies, which is more than the funding of all other sectors listed combined. The problem is that EVs only have the potential to contribute to about 0.8 Gt CO2e reduction per year.
The most egregious of these is the lack of funding for ecosystem restoration. It has far and away the most potential for emissions reductions, but it has received the least amount of funding by a considerable margin. This mismatch is exactly what has led to the growth of the ReFi movement. The ReFi community realized the criticality of ecosystem regeneration to fight climate change and saw that traditional VC dollars were not flowing to these projects.
ReFi has started to fill the gap but there is still much room to grow!
ECORISE Launch Announced
ECORISE announced their $RISE governance token will be launched on May 10th in partnership with TrustSwap.
ECORISE has two tokens in its ecosystem. The $ECO token is a stablecoin backed by land, regenerative lease agreements, carbon credits and crypto. It is intended to foster the regeneration of the natural environment and act as a hedge against inflation. $RISE is the governance token and is used for staking, voting in the DAO, accessing the sale of NFT collections, and funding DAO-approved proposals.
The TrustSwap launchpad will accelerate the $RISE launch process and ECORISE will receive continued support from TrustSwap throughout its development.
First Moss Token Vote a Success
Last month, Moss made a push toward decentralization through the creation of a the Moss Governance Token. This past weekend, the first Moss Improvement Prop0sal (MIP) vote was held to create the foundational rules on MCO2 trading, minting, and distribution.
100% of the community voted to approve the governance rules, which includes a trading policy to sell over-the-counter via market makers or directly to buyers - only volumes representing at most 25% of average daily trading volume.
Moss's own words about it's path toward decentralization:
As we work to decentralize more aspects of the protocol, we will research best practices and seek community input on the optimal governance system for each function.
🌱 ReFi Bites 🌱
Endangered Tokens announced new NFT Project
Endangered Tokens is partnering with NFTFY for an Earth Day NFT drop.
Check out the ReFi in Action recording from Celo Connect
For those that weren't able to make it to Barcelona earlier this month, here is a recording of the awesome conversation about all things ReFi.
Toucan responds to recent scrutiny
Toucan believes that building in the open means that issues are more quickly discovered and debated. They have been working to improve integrity and build incentives for credits from highly additional projects.
Polygon goes green with help from Klima
Polygon pledged up to $20M to offset the ecosystem’s environmental footprint.
Say hello! 👋
Thank you for reading 🙏 If you're interested to learn more about ReFi, get involved in the movement, or have any feedback on the newsletter, feel free to reach out to us at the community emerging at @ReFiDAOist for more information!