Klima DAO

Summary This proposal outlines a strategic initiative to expand KlimaDAO’s environmental commodities market on Base.

Motivation KlimaDAO has built a suite of tools and amassed a treasury on Polygon capable of supporting multiple EVM chains.

• Klima Data
• Retirement Aggregator
• Retirement Bonds
• $KLIMA
• Treasury Wallet, DAO Wallet

We now will be offering users the ability to retire carbon from any chain using Circle’s USDC via a cross-chain retirement tool (powered by Axelar cross-chain function calls https://axelar.network/blog/cross-chain-function-calls-will-replace-bridges), removing any need for $KLIMA or carbon liquidity on the source chain. The first chain this tool will be deployed to is Base.

Retirement functionality is one aspect of an environmental commodities market, but without $KLIMA on the source chain users are limited in how they can interact with our ecosystem. With the rapid growth of new users to Base (seen above), the continued onboarding of family offices and institutions via initiatives like Project Diamond by Coinbase & Coinbase Asset Management, and the regulatory clarity and skill exemplified by the Coinbase Legal and Policy teams - make Base an ideal destination for expansion of KlimaDAO’s environmental commodity infrastructure.

Proposal Introduce cross-chain retirement functionality to Base, accessible with USDC or KLIMA via a soon-to-be-developed frontend similar to https://app.klimadao.finance/#/offset. (Axelar backend contracts are already complete)

Expand $KLIMA liquidity to Base and seed a KLIMA/wETH liquidity pool.

Implementation

• Purchase 100 ETH using USDC from the KlimaDAO Treasury
• Create a new multisig on Base managed by the same signers as the current DAO wallet on Polygon
• Deploy $KLIMA as an interchain token using a cross-chain token service like Axelar’s Interchain Token Service: https://axelar.network/interchaintokens
• Bridge an equivalent value of KLIMA & 100 ETH to Base, depositing in KlimaDAO’s new Base multi-sig
• Deploy KLIMA/WETH liquidity on Base
• Deploy cross-chain version of the https://app.klimadao.finance/#/offset frontend
• Enable cross-chain retirements from Base

Conclusion

The proposed expansion of KlimaDAO onto Base represents a strategic move to leverage the protocol for broader impact on one of the fastest growing blockchain ecosystems. By establishing a presence on Base, KlimaDAO aims to enhance the liquidity, accessibility, and utility of environmental commodities, aligning with our mission to drive meaningful action against climate change. This initiative promises to extend our reach, enabling more users to participate in the carbon market and contribute to global sustainability efforts.

Polling Period The polling period begins now and ends on Thursday April 18, 2024. Upon a favorable outcome it will advance to implementation.

Implement and build on Base?