VRRS transactions will finance projects designed to fight global warming
Yesterday, AGA, a decentralized green mining protocol, declared the launch of REVERSE (VRRS), a new token that aims to tackle climate change. All the tokens have already been issued, and the team has no plans to keep any.
Stefan Renton, Head of Product Sustainability at AGA, said: “Buy, use or sell our token and you are making a positive impact in the fight against climate change. We use the blockchain to verify and prove that. Track your own verifiable data… So not only is it an opportunity for those who just want to do their part to be rewarded, but it also provides a small incentive for those with reservations associated with cost. They still benefit while doing their part too. Do good, get rewarded.”
For each VRRS transaction, 80% of the tokens are received, 10% are sold for carbon removals and linked to the user’s wallet, 5% are burned to enhance token appreciation, and 5% is distributed to all holders – no staking is required, coins are simply sent to all wallets with a VRRS balance.
Reverse wants to finance projects designed to combat climate change. Research shows that adding small amounts of marine algae to livestock feed may reduce methane emissions by 70%.
Renton added: “With less than half of Dogecoin’s current daily volume, we could neutralize 10% of global carbon emissions. However, with that kind of daily volume we could invest in projects that have roadmaps for 10x cost efficiencies. That could mean eliminating 100% of global emissions with half the daily volume of Dogecoin..”
The project roadmap includes the launch of an impact tracker and emissions calculators, as well as a climate change innovators fund and prizes for non-fungible tokens (NFTs). Eventually, AGA will no longer be responsible, carbon removals will be automated, and funding of projects to fight global warming will be decided by a decentralized autonomous organization.