Here at carbonZERO, we pride ourselves in being as transparent with the community as possible. This is why we produce our weekly validator reports for everyone to see what we have been up to for the week and how we have been donating our rewards.
We also have our Ecologi page that lets you track our environmental efforts to show that we are actually donating and doing what we say we are doing. With this post we want to explain our carbonZERO DAO donation flow so everyone understands how things are going to work. Starting this next week, we are going to begin using the DAO treasury to stack our USDC that we will use for donations.
How our donation flow works
Part 1- Rewards
On a daily basis, we will claim our rewards and then sell 10-20% into USDC. We keep the funds in USDC to keep the donation funds stable with the dollar because we have to eventually cash out to dollars to donate.
Part 2- Send To DAO
Once we have converted the funds to USDC, and using Axelar, we will be sending the funds to our DAO treasury as axlUSDC on a weekly basis. This is to save on the 1 USDC transfer fee. The funds will then sit in the treasury until they are released via a DAO vote.
Part 3- Vote
This is the part where we will create a proposal for donating the funds to various ecological projects. $cZERO token stakeholders will be allowed to vote on the donation proposals every month. We are focused currently on our efforts to plant 100,000 trees with Ecologi, so that is what the team will be proposing. If a cZERO token holder has an ecological fund they would like to see us support, they can submit a DAO proposal for 1000 cZERO tokens, or they can come to our Discord server and make a proposal there and if we like the cause, we will front the proposal fee. Proposals will be submitted on the 25th of the month. This allows 3 days for voting, and then 2 days for transfers so that we can donate by the 1st of the next month.
Part 4- Withdraw
After the 3 day voting period, if the vote passes, the axlUSDC funds will be withdrawn from the DAO to our team wallet and then converted to fiat.
Part 5- Donate
We take the axlUSDC and exchange it to ATOM and send it to Kraken. Here we exchange the ATOM for dollars and withdraw to our company bank account. Then once we have received the funds in the account, we then send to Ecologi, or whatever ecological cause the DAO votes to send the funds to.
In Conclusion
We hope this helps everyone understand a bit more how we will be working with our DAO and donating funds to various causes. Be looking out for opportunities to earn or win some $cZERO DAO tokens so that you can have a voice in how we help save the planet with our crypto rewards!
We Are carbonZERO
carbonZERO is a full service, eco-conscious validator node operator, providing infrastructure for several blockchain in the Cosmos ecosystem. We run top of the line bare metal servers with data centers that work to be carbon neutral. Our node architecture consists of frontline sentry nodes for ultimate security running TMKMS for double sign protection. We also run 24 hour monitoring on all nodes to help secure against any significant down time.
We are a small but highly passionate team, not only around blockchain validation, security, and decentralization, but also around protecting and preserving our environment for generations to come. This is why we have started our eco-friendly DAO where we donate up to 20% of our commissions to ecological projects around the world, primarily focused on planting trees to offset carbon emissions. Our DAO members help direct our donations through governance voting and proposals.
Stake your $EVMOS, $JUNO, $CMDX, $MNTL, $ROWAN, $HUAHUA, $STRD, and $NOM with carbonZERO using our Restake app and if Authz is available, you will be able to auto-compound your tokens!
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You can track our tree planting progress on our Ecologi page!
Posted from my blog with Exxp : https://news.carbonzero.zone/2022/09/15/carbonzero-dao-donation-flow/