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EnergyWeb Doge NFT Launch

Generative with a twist of governance

Project Update

After a successful launch and initial distribution of the $EWD token, EnergyWeb Doge is ready to achieve its main goal. It now tracks and will soon offset the CO2 emissions of Dogecoin’s proof-of-work blockchain.

EWD has also been accumulating transaction fees in its GreenFund for a few weeks already, and the GreenSea marketplace on CarbonSwap will make it possible to use those fees to purchase Carbon Removal Credit tokens.
$EWD will concurrently start its deflationary process, entailing a burn event each time carbon credits are retired to offset Dogecoin’s emissions.

If you wish to know more about Carbon Credits and Offsets, check out this handy guide: https://carboncredits.com/the-ultimate-guide-to-understanding-carbon-credits/

Introducing īinu, the EWD NFT collection

Launch date: October 31st 2021, 16:00 UTC (Whitelist)18:00 UTC (Public)

EnergyWeb Doge is proud to present the īinu series NFTs, that come packed with utilities and a gamified way to invest in carbon credits. Since the launch of the new marketplace on the EnergyWeb chain, over 500 carbon removal bonds have been acquired by the EWD team. This was done to make sure that each of the NFT from the limited collection is backed by a 20 Year Carbon Removal Bond from the pilot project CarbonLand Trust.

The minting process

Upon launch, a minting dapp will allow the purchase and generation of the NFTs. Some mints will result in rare NFTs that can yield 2, 4 or 12 Carbon Credits per year. Each mint will result in a random artwork and NFT class: Common, Rare, Epic or Legendary.
The base price of each NFT will be denominated in $EWT and in line with the price of carbon removal bonds, which are priced around 300$. A small fee will also be set aside at every mint for the NFT artist. Those who wish to increase their odds of minting a rare NFT will be able to do so by paying a premium on top of the base fee.

How the NFTs will yield carbon credits.

  • The NFT collection will be backed by a basket of Carbon Removal Bonds held in the GreenFund. The number of bonds in the GreenFund will always be greater than the amount of NFTs minted.
  • Bonds will yield 1 $CRC token every year for 20 year to our GreenFund.
  • The web app of EWD will host a staking/mining platform as a gamified way to earn $CRC tokens. (NFTs won’t have to leave the wallets).
  • Each NFT class will be minted with a different hashrate power. Rare, Epic and Legendary NFTs will have stronger hash power, resulting in a decreased amount of time necessary to claim 1 $CRC.
  • Holders will also be allowed to combine their NFT’s hashrate in the same wallet in order to get a linear distribution of the tokenized carbon credits.
  • The dashboard will keep track of the time period each of the NFT stays staked per epoch, and will allow a claim when certain number of hashes is met.

Example:
-If it takes 1 million hashes to be able to claim 1$CRC, the common NFTs would have to be staked for 52 epochs (1 epoch = 1 week) in order to claim 1 $CRC.
-If a holder has 4 common NFTs in his wallet, mining with all of them simultaneously would allow 1 $CRC token to be claimed every 3 months.
-Legendary NFTs, which produce more hashes every epoch (roughly 40 000 hashes per day), would possibly allow a $CRC claim once per month.

Governance

Each epoch of our Dogecoin CO2 tracking system will result in the purchase and retirement of $CRC tokens, as well as a burn event of $EWD tokens. The NFTs will act as a voting system that can influence the burn mechanism of $EWD. It will be possible to use the NFTs to increase the amount of $EWD tokens to burn in relation to the carbon credits to be retired.

Another purpose of the NFT collection is that if Dogecoin is fully offset, the NFTs could also serve as a voting power to decide where the GreenFund should allocate the tax revenues.

Notes:

EWD could make use of different revenues streams in order to grow the basket of bonds backing the NFT collection. This could increase the yield for each NFT and make the entire collection more valuable.

About: EnergyWeb Doge is a project on a mission to offset the carbon emissions produced by the Dogecoin Proof-of-work blockchain. POW chains are run and validated by miners, and have been the focus of many critics lately. With POW chains, mining rigs constantly compete on the network to mine the next block, leading to excessive electricity consumption. As the networks are spread worldwide, the energy used to power these mining rigs is derived from multiple sources, often including carbon based fuel (coal and gas). Unlike many other meme projects, EWD is not meant to compete with Dogecoin. In fact, EWD was created to ensure that the Original Doge is looking good and sharp when it comes to its carbon emissions and the carbon footprint it leaves behind.

Visit our website : https://www.ewd.green/index.html

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Agent K

Agent K

Crypto enthusiast, interested in disruptive technology. Currently helping EnergyWeb Doge with their goal of making Dogecoin Carbon-Neutral.