Description

Voting YES to this signalling proposal indicates approval to address Regen's historic carbon emission footprint for mainnet and testnet by purchasing 6,147 carbon credits at worst-case projections.

Voting NO to this proposal indicates that this funding should not be allocated.

Based on feedback from carbon footprint data reported by validators of Regen Network, Regen has emitted at most 4,637 tons of carbon since the start of mainnet and an additional 1,510 tons since the start of testnet, through the end of 2022. Some assumptions have been made for testnets where data is unavailable. The total carbon emission for all networks is an estimated 6,147 tons.

This proposal signals intent to use a portion of the Community Pool to purchase and retire these credits. 80% of these carbon credits will be purchased via the soon to be launched NCT token on Osmosis. 20% will be purchased using City Forest Credits in the Regen Network marketplace.

Due to the NCT pool not launching until early 2023, this proposal signals intent rather than initiating the community pool spend immediately. The total cost of the 6,147 credits would cost approximately $82,623. At current $REGEN price, and factoring in a 20% buffer for price volatility, approximately 430,425 $REGEN would be required to carry out this offset.

Method

The $REGEN would be transferred to a multi-sig wallet on the Regen Network, and the agreed amount of City Forest Credits and NCT would be purchased and retired manually by the multi-sig owners.

The multi-sig wallet would be managed by: Danny Qwoyn (Regen Network) ECO Stake (Validator) LOA Labs (Validator)

Any $REGEN remaining due to price fluctuations below the intentional 20% buffer to mitigate any price volatility, and a potentially lower NCT/CFC cost, would be returned to the Regen Community Pool.

Discussion: https://forum.regen.network/discussion/7829-proposal-offset-regen-validator-set