Now every transaction on the Shyft network can be carbon offset using the DOVU API and cDOV Marketplace

DOVU is delighted to announce a collaborative partnership with Shyft Network. It makes us supremely proud to work with a team that recognises one can grow a successful business and community within the blockchain industry while still caring about the environmental impact.

Working with DOVU, Shyft can reduce its carbon footprint and get close to being carbon neutral, demonstrating a commitment to its global partners.

On 7 April 2021, Shyft Network announced its roadmap and the upcoming launch of its blockchain using a strong federation proof-of-authority consensus mechanism.

Chosen for its efficiency, security and resilience, a strong federation mechanism achieves consensus while considerably reducing the carbon footprint that other mechanisms, like proof-of-work have.

In addition, as the project scales, Shyft Network will be able to bi-directionally secure data and monetary transitions on the Bitcoin blockchain, making it more efficient and useful.

The Shyft Network team has also been collaborating with international organisations on building and implementing its own set of sustainable development goals.

As part of this effort, the team announced the creation of grant structures via community DAOs, and is in talks to develop one that will specifically target more efficient and ecologically sound blockchain projects.

At DOVU we’re striving to be a positive force that aims to offset every crypto transaction globally. As a team, we’re passionate about the positive impact blockchain and tokenisation have in today's world. Equally, we’re also aware of the environmental impact of our industry.

That’s why we’re  building a Protocol which will link supply (carbon stored) and demand (carbon offset certificates) in a seamless and transparent way while focusing on the largest land-based carbon store, soil.

Irfon Watkins, founder of DOVU said:

We are proud to be working with a forward thinking business such as Shyft. They understand that to achieve your global aspirations, you don’t have to ignore social responsibility.  This is a message we both want to share in the run-up to Earth Day.

Commenting on the Partnership, Juan Aja Aguinaco, Co-Founder of Shyft Network said:

Lately, our industry has been unfairly tagged as one that has a very high impact on our climate and environment. At Shyft Network, we believe that we can do things better and more efficiently by using resources in a way that advances the rights of people to financial freedom, while keeping a small or neutral carbon footprint. We’re committed to improving the life of people around the world, and admire the objectives that DOVU has set. We are proud to partner with DOVU and help them achieve their goals.

About DOVU:

DOVU is a protocol that aims to offset every crypto transaction globally. We empower local communities by unlocking the carbon in the soil under their feet. Our mission is to connect the entire crypto community through fun and frictionless interactions with our platform, where they can offset their crypto transactions or anything else by supporting farmers globally!

To follow our progress,  join our community on Telegram and Twitter and follow us on Instagram

About Shyft Network:

Shyft Network is a public protocol designed to aggregate and embed trust, validation and discoverability into data stored on public and private ecosystems, and facilitate information transfer between permissioned and permissionless networks. By incentivising individuals and enterprises to work together, Shyft Network allows for the layering of context on top of data, turning raw data into meaningful information.

Website: https://shyft.network/
Twitter: https://twitter.com/shyftnetwork
Telegram: https://t.me/shyftnetwork
Discord: https://discord.gg/KFb2YBXe

Github: https://github.com/ShyftNetwork

Well this is exciting.

DOVU has a bold, new brand. One that perfectly complements our even bolder mission to help people offset carbon emissions by buying direct from carbon farmers across the globe.

Yep, you’ll have already spotted the branding in this blog’s image. But what’s the new look and feel all about?

Let’s delve a little deeper to see how it was created and how it helps us get our message out there.

In your hands

As you can see, our visual branding centres around hands. These represent our mission to give people more choices and control in shaping what happens next. Whether that’s backing local projects, or supporting carbon farmers in far-flung locations, the fact is: the future of the planet really is in our hands.

Palms and fingers will be featured on pretty much every visual we put out. You’ll see them directing you down the page, pointing you in the right direction, carrying key messages, even holding a whole ecosystem. Turns out, they’re really rather handy (sorry!).

The two-pronged palette

Okay, let’s talk colour. Our new brand palette isn’t your average bunch of brand colours. It has two distinct sides: subdued and bright.

The white, grey and Brand Blue form the foundation of each visual. They represent the business side of the brand. The ongoing hard work, the smart tech and seamless UI that makes us who we are.

Then there’s the bold green, yellow and fuchsia. Think of these as the actions we’re taking, the projects we’re supporting, the new initiatives we’re nurturing – and of course, the wonderful difference we’re making worldwide.

Our circular life

It makes perfect sense that a lot of our visual branding revolves around a circle. In nature, we see circles in every sunset, in the ripples of a lake and the full moon. The fact we’re advocating for a circular life is also relevant. And of course, there’s that all-important DOV token that makes our world go round.

We’re using the circles in quite a few ways, but in each of these perfect shapes is a vision of progress. You’ll see everything from rainbows to far-reaching forests and new seedlings to fertile soils.

As you might expect, the circles are always held in a hand. They can be held up, out – or any which way – as long as there’s a connection between human actions and our future vision.

The great news is, this look is pretty simple to recreate, so we’ll be using the device across social media posts, in our email signatures – and anywhere else that makes sense.

Meet the montage

Last, but definitely not least, meet the eclectic montages. When we’re looking to make a real splash, these are our go-to visual motifs. They’re a thing of beauty – even if we do say so ourselves!

These visual pieces not only make you stop and look, they’re also a smart way to visually share stories of our projects and the carbon farmers at heart of our mission.

You’ll see they use a combo of black and white photography (the foundations), alongside bold pops of colour. As with the palette, these bright details are the action elements. The projects we’re growing and the future we’re bringing into being.

If you look super closely, you’ll notice that some of the colourful elements have a more obscure feel about them. These are the flowers, petals and birds generated by machine learning. Just another reminder that when bright human beings work with smart technologies, beautiful things are born!

So there you have it

That’s the story of our new branding and how it came to be.

We’re chuffed to bits with it all. And we can’t wait to start using it to share our messaging, mission and vision with you – and the world.

cDOV

Storage of carbon offset value leveraging an elastic supply with yield.

I. Watkins

K. Mileva

M. Smithies

January 2021

Abstract

Present-day carbon offsetting markets suffer from many challenges ranging from double-spending, ignorance of actual positive environmental impact to the validation and audit of an individual asset. Furthermore, landowners from all over the globe maintain carbon stores inside of soils that have no standardized method to monetize from the carbon-positive asset whilst providing accountability through public transparency. In this paper, we are introducing a solution for solving these issues, a two-sided marketplace for monetizing carbon assets backed by an elastic supply token targeted to the price of carbon. This system will enable the allocation of assets into verified carbon offset projects and retain a fair ongoing representation of the value of carbon they hold through a dedicated elastic supply token with multiple daily rebase events. The first rebase event will adjust the total supply to tend toward the price of carbon and the second will provide a passive mechanism for individuals to offset their carbon footprint.

Introduction

The primary challenge with understanding the environmental impact of carbon is that it is difficult to visualize the effect our individual behavioral habits change the world around us. Somehow we need to work together as an egalitarian society with the responsibility that together we will make a difference. Media dictates imagery ranging from humongous arctic icebergs collapsing to severe changes in weather, the macro damage from the collective, but for us, the everyday individual it is difficult to conceptualize our duty. There has been a colossal influx of carbon-offsetting products and services throughout the last decade but for consumers, they tend to act as a tool for charity and to increase status. The majority of products aren’t audited for carbon change over time, so in many cases the actual tangible impact is unknown.

There are many intersections within the carbon offsetting industry that require innovation to provide a two-sided marketplace of buyers and sellers of carbon assets.

• Ongoing demand and pressure for environmentally friendly carbon offsetting solutions on both the consumer and business side.
• Large enterprises have a legislative responsibility that requires them to offset internal carbon emissions, with proof.
• Verification of real-life behavior or actions from a trusted source.
• Dapps that interact with the real world.
  

As the price of carbon changes week-by-week it is difficult to ascertain if there was a fair exchange for the real environmental value delivered. This volatility needs to be captured through the use of a range of oracles to feed up-to-date data into the economic carbon system in order to gradually adjust or rebase the entire supply such that the price of an individual token tends to the current price of carbon. We’ll call these tokens cDOV from now on, representing a unit of value with a single-use to offset real-world carbon.

In order for a carbon asset to be rewarded, it has to be verified and offered on the carbon market. From this point, a new mini-pool of cDOV and carbon tokens is minted, to provide an opportunity to monetize an asset over a locked period with a set of predefined conditions.

Finally, once carbon has been allocated to a project the offset capability benefit has been consumed which in turn results in the cDOV being liquidated to the asset owner then subsequently burned. In its wake, a non-fungible token (NFT) is created and sent to the buyer as proof of environmental impact. All cDOVs in the circulating represent a constant of the potential carbon offset value for all holders.

How it works

The project builds upon the work from Ocean Protocol marketplace and elastic supply rebase tokens such as AMPL, Base Protocol, and Rebase Capital. For the carbon market, we extend the functionality of Ocean, ensuring through an additional feature set, to ensure that the assets are verifiable and auditable. The rebase token features have been extended to track a dynamic price of carbon which is novel as it directly affects all of us, with an additional burning mechanism as a potential carbon offset can only be consumed once.

Our dynamic target pricing for the dynamic value of carbon is similar to the approach that Base protocol has taken to create an index of the crypto market cap and inspiration has been drawn from Rebase Capital’s use of “stimulus” payments as an additional daily rebase yield.

In short, the scope of the system delivers three distinct innovations to improve the foundational layer.

• A rebase token pegged to a real-life single-use asset with a burning mechanic.
• Verified and auditable assets inside of a decentralized data market.
• An engine to schedule the liquidation of cDOV to an asset owner over a duration of time triggered by predefined rules.
  

In the first case of the carbon market, we’ll discuss the seller as an example being a land manager who wishes to monetize a carbon asset, the soil on land. Ground soils especially farmland can contain a diverse range of environments, such as peat bogs and forests, which can be used to maintain carbon stores. By using modern and environmentally friendly farming practices carbon emissions can be sequestered into the soil and measured to uncover insights into how successful carbon stores have changed over time.

Inside the market, we can use this information in addition to documents that prove ownership and location to create rules and a schedule for payments locked in a smart contract. Sellers can offer the asset with the documents, as a tokenized pool of potential carbon storage to buyers of the market.

This is all bought together through the use of the elastic supply token, cDOV, that is targeted to rebase to the price of carbon, with an additional benefit for passively offsetting an individual’s carbon footprint for simply holding the token.

The DOVU carbon token flow

The diagram illustrates the token flow for DOV and carbon tokens, cDOV. These tokens are elastic thus adapting or rebasing the supply to tend toward the current price of carbon. An additional daily rebase event occurs to generate the offset footprint reward for all network participants, to an upper APY limit. There are carbon yield farming opportunities, to earn a higher rate of cDOV as an incentive by providing a service to the network through liquidity.

Carbon footprint offset reward

(hCv / Mc) * (Mc / 364.25)

Where hCv is the held carbon fiat value in cDOV, Mc is the maximum carbon reward representing an average daily carbon footprint for an individual.

Note that the held calculated multiplier may not be higher than 2, this is to incentivize the distribution of cDOV over multiple wallets providing opportunities for all participants to passively offset their carbon footprint.

Holding cDOV will provide a resource for an individual to live a carbon positive life, passively, only having to choose assets in the carbon market to assign their asset to.

The average person in the world produces 4.8 tonnes of carbon dioxide emissions a year and the average cost of a tonne of carbon is 31.60 euro as of 14/12/20. Extrapolated out an individual would have to pay 151.68 euro to offset their footprint. In terms of holding cDOV an individual could maximize the passive offset by holding enough cDOV to meet that cost. The benefit would be for subsequent years the cDOV value would only need to be topped up, if required, to meet the current carbon price levels.

Why elastic supply is key for carbon offsetting?

An elastic supply provides a solution for pegging the value of a token to value in the real world at a given point in time. Imagine this scenario, as mentioned above if the price of a tonne of carbon is 31.60 euro and there are theoretically 100 cDOV in circulation, cDOV would provide 100 tonnes of potential carbon offset.

If the cDOV market price changed, the daily rebase will adjust the supply to tend toward the price of carbon. Purchasing of cDOV provides a tool for the holder access to the potential carbon offset, the purchase of 1 tonne of carbon today at a given price point may not represent the value of a tonne tomorrow, but the fiat value invested should be relatively stable within the constraints of a DEX market.

• cDOV tokens are only minted to support the passive offset for a carbon footprint, up to a limit, to disincentivize large holdings for the risk of market manipulation.
• cDOV tokens are burned once they are traded into DOV, as that represents the conversion of potential carbon offset into real value, to add positive price pressure.
• cDOV price discovery is based on the pairing with DOV tokens, where the market has settled to a market cap of approximately 250-300k.
  

Furthermore, our primary pairing for DEX is to pass through our current DOV token. All volume for trading cDOV, our carbon market, and new price discovery will benefit current DOV holders. Third parties or partners may create new markets with other tokens.

Current DOV token holders can use their current holdings to swap to cDOV, with the addition of gas to swap tokens.

Tokenomics

1 tonne of carbon = 1 cDOV

Daily target price using an oracle using an average index of multiple carbon price feeds.

Initial supply: 1100 cDOV

1100 cDOV in liquidity supply

Using the price of carbon at $30, for a simple illustration.

Initial target market cap target: $30k

Undiluted market cap: $33,300

Liquidity Pool:

All tokens are linked with the value of DOV and staked as liquidity onto a DEX, such as Uniswap.

Current DOV/USDC price is 30,000 DOV to $30.

30,000,000 DOV paired to 1000 cDOV.

The pairing of both DOV and cDOV will create a liquidity pool worth approximately 60k.

Main Points:

Daily rebase to the price of carbon using the average of 3 data sets using an oracle.

Daily yield of up to 100% APY, based on an upper limit of ownership of 4.8 cDOV,  average individual consumption of carbon a year.

Holders will be periodically notified of whether they need to “top-up” their cDOV balance to maximize carbon yield reward on DOVU applications.

Experimental v2 concept: Token Burn & Carbon reseed function.

Every cDOV that is traded out of the DEX is assigned to be burned, compressing supply, as it is considered “consuming” or “deploying” the potential offset value.

One token is locked in the contract to ensure that the supply will never be exhausted for daily rebasing events and will be a basis for seeding the supply in case all tokens are sold on the market.

One of the greatest challenges that have affected Blockchain companies has been within the unpredictable transaction costs of well-known blockchain technology.

The view of  "most mature technology", in the decentralised space, is historically based on Proof of Work (PoW) consensus mechanisms such as Bitcoin and Ethereum. All network fees correlate in direct relation to the increase in network traffic.

This makes on-chain solutions around micropayments and reward mechanisms effectively impossible to work at any level of impact.

Any ecological or environmental positive impact will be wiped out by a single PoW network transaction and theoretically cause a negative effect.

The fundamental problem is that Proof of Work is terrible for the environment, absolutely awful. For more information have a look at the Bitcoin energy consumption index, as at October 2020 the energy consumption is 22.6% of the UK power consumption.

Although this is a known problem and there is a range of solutions that solve the "energy" problem including using Proof of Stake but there is an ICO issue. As many ICOs (initial coin offerings) have used the Ethereum ERC standards as the basis protocol there is a cost, a carbon debt that has already been assigned.

In order for DOVU to deliver a carbon offsetting solution today, we require a different, hybrid approach.

And yes as DOV is an ERC20 token we accept we already have a carbon debt. This needs to be paid, in one way or another.

So what is DOVU doing?

DOVU is introducing an innovative Proof of Carbon mechanism. Every time DOV tokens are rewarded to a user through our API we capture and store this information.

This information is stored publically, anyone can view the intent of the distribution of the assignment of carbon, the DOV token.

DOVU uses the Hedera Consensus Service (HCS) backed by Hedera Hashgraph and leverages the work by Trust Enterprises a community-driven open source project.

Using HCS provides an extremely low-cost solution in terms of environmental and economically to add trust to any system, without having to offset the cost to any user.

This provides a scalable solution for adding proof for any transaction which indicates the transfer of carbon using the DOVU API, that any team can start using.

Below is an example of how the assignment of carbon can be proved and viewed, without the requirement to interact directly with a mainnet PoW network.

This process is impossible on PoW networks as the transactional cost would override and almost always exceed the micro-payment benefit to prove the assignment of carbon.

In addition to this Hedera Hashgraph network has the potential to reach a capacity of 10,000 transactions per second (TPS). Examples of pushing the network have been confirmed through AdsDax at 1372 TPS and Quantstamp at 2909 TPS.

During our early testing of a simple architecture using a single serverless proof of carbon node we have exceeded 50 TPS.

With that said this is one bit of the greater puzzle, we have a vision and roadmap to enter the DeFi space and to link physical land to unique non-fungible tokens (NFT).

Soil is the future for carbon offsetting

When we hold the image of carbon being emitted into the atmosphere we envision the pollution through the burning of fossil fuels. Thoughts of transportation, cars, and power plants are clear and present.

One of the greater concerns is the emissions of CO2 from soils are around ten times those from fossil fuels.

At DOVU we have been working toward delivering a solution, to incentivise farmers with additional income to consistently pursue high-quality farming practices.

The economic value of the farming industry is worth £120 billion in the UK but the average income for a farmer is £20,000.

Blockchain and NFT

Building a decentralised marketplace for farmers and land-owners to offer carbon certified areas of land verified by soil carbon sequestration.

A buyer may purchase the carbon of a given portion of land this is exchanged for a unique NFT, that includes metadata including exact location.

Every portion of land will have a finite amount of NFTs, in other words, a unique token would be minted for every piece of land. Any value will be stored in escrow and released over the duration of the contract terms.

Upon purchase from a buyer, the farmer will be paid out for ongoing consistent behaviour for environmentally positive behaviour.

Ongoing payment will be hinged on the measurement of positive carbon measurement gain through carbon audits for farms.

If there is a gain in carbon storage, the farmer will receive payment otherwise the value will be returned to the buyer. Without the latter consequence, there will be no accountability.

This will eliminate the carbon double-spend problem and create a fair incentivized carbon marketplace based on real tangible assets.

These solutions will be crucial for large businesses and enterprises for their carbon reduction targets, purchasing allowances for carbon to offset every tonne they emit. Many of these targets have been written into legislation, so they need to be met.

Start working with DOVU today

DOVU is building technology to facilitate the offering, validation, and rewarding of capturing carbon value.

So that is where DOVU is moving toward, this is where we are today.

We provide a mechanism to augment your Carbon Offsetting solution, through a REST API, now backed by the trust of Hedera Hashgraph.

If you have a carbon offsetting project in mind we welcome you to join our DOVU Token Grant project, we'll support you with tokens and marketing.

Otherwise, if you are a developer that wants to work with our community and start building with use we have opened up an Open Source Bounty program, we provide Tokens and Mentorship.

There is a lot of exciting developments coming forward for DOVU for the end of 2020 and 2021, we are looking forward with excitement with the possibilities for the future.

Today we are opening our bounty program. We are actively seeking developers that want to become pillars of the legacy of DOVU and gain influence within our open source community.

This is the perfect call to action for those that want to break in to the software development industry but are struggling to find interesting work due to a lack of commercial experience or the side effects of COVID-19.

This is what we will provide:

1. At least 1 million DOV token grant per project, at first. 💰
2. Spec'd out projects, with examples of open source code bases to work from. 🤩
3. Direct mentorship from our CTO for pull requests, advice and one-on-one discussions with any questions you have. 🤗
4. Blog and social media outreach to let all of our followers of your ongoing progress.  🚀
5. Priority access to our Champion Insider mailing list to get first dibs on the freshest bounties we have on offer. 😁
6. Ongoing opportunities to connect you with startups and businesses in our network that are looking for developers. 😉

If at anytime you get a rush of inspiration and wish to create a private product we invite to apply to our sister token grant program focusing on teams augmenting their products with DOVU technology.

Find our more about all of our current open source bounty opportunities.

These are our current projects fresh off the bounty press.

• Laravel package for the DOVU API
• Serverless Next.js app for the DOVU API

Soon, we will be further exploring decentralised technologies within the ethereum DeFi space. We will open up bounties for many of these items.

With that said, the ball is in your court. Click the button below to begin.

Thank you.

Today, we announced the launch of our liquidity mining program. This program will run from the 1st October until the 31st October. We will incentivise participation by making 10,000,000 DOV tokens available as a reward for token holders providing liquidity in the Uniswap V2 exchange.

If you are new to Uniswap Liquidity Pools please read this:

https://coinmarketcap.com/headlines/news/uniswap-liquidity-pool/

Reducing the risk by increasing Rewards

‍‍

At the end of the 31-day program, DOVU will reward liquidity providers with DOV tokens based on the decrease of their DOV balance in the liquidity pool. If the total balance decrease in the pool is less than 10,000,000 tokens, DOVU will reward one DOV token for each token “lost”. If the total pool balance decrease is greater than 2,000,000, then the reward tokens will be allocated proportionally.

Liquidity providers can enter the pool at any time, but must be active at the end of the 31-day period to qualify for the extra DOV rewards. Participants must commit an equal value of DOV and ETH into the pool, and this can be withdrawn at any time after the end of the incentive period.

Every Uniswap Pool has its own swap fee, which is distributed equally to the pool’s liquidity providers. The 10,000,000 DOV tokens are an extra incentive that also eliminates the “impermanent loss” risk sometimes associated with liquidity pools.

So when participants provide liquidity in the DOV/ETH pool, they are not only earning a percentage of Uniswap’s trading fees, but they are also earning DOV tokens.

The more liquidity you provide, and the longer you are in the pool, the higher your rewards.

...and you can still apply for a DOVU grant

Our eyes will be on the hunt for teams that want to build projects that help the environment and offset carbon.

We've had an incredible amount of applications over the last week and we feel so grateful that our community is so passionate, click through to apply for our DOVU token grant.

Following on from our launch of DOVU.Earth and ahead of our upcoming Liquidity Mining initiative on Uniswap, we are pleased to announce that our token grant program is now open for applications, it takes less then 3 minutes to apply.

Our industry needs to innovate faster to address our unacceptable carbon footprint.  This program is an investment in this innovation not just through our tokens but also with technical resource and support.

Through DOVU.Earth our tokens can be redeemed against accredited carbon offset programs.

We have been building our developer resources and API programme as you can see here https://developer.dovu.dev/

We will be distributing up to £20,000 a month in DOV tokens to developers and teams that want to build innovative Carbon Offsetting solutions using DOVU technology.

In the coming weeks, we will be adding more resources, support and tools to help developers get started.

1) You'll get DOV token support for up to 6 months.
2) An invite to our private developer community.
3) Get exposure of your project on our social channels.

This. is. exciting. ❤️

We welcome any developer or team to apply that has a vision of building carbon offsetting solutions.

To apply click link below

https://dovu.earth/grant

                      DOVU - Carbon Offsetting the crypto industry

The uncomfortable truth about building a business on public blockchains such as Bitcoin (BTC) and  Ethereum (ETH) is the environmental impact of proof of work coins. Although all DOV tokens are already mined we do rely on ETH to fuel our transactions on-chain. Our DOV token is also available within exchanges to be swapped for BTC and other tokens, therefore we are part of the problem.

A single BTC transaction has the same carbon footprint as 631,849 VISA transactions or 42,123 hours of watching YouTube.

The DOV is a token built on Ethereum and as you can see below there are carbon benefits using ETH vs BTC, however, it is an unacceptable burden on our planet. Our community has to come together and work on solutions.

“That’s just a huge waste of resources, even if you don’t believe that pollution and carbon dioxide are an issue. There are real consumers—real people—whose need for electricity is being displaced by this stuff,” says Vitalik Buterin, the 24-year-old Russian-Canadian computer scientist who invented Ethereum when he was just 18.

As ETH moves to a more energy-efficient model of Proof of Stake, a combination of ETH and DOV tokens could see all ETH transactions offset simply and efficiently. All Crypto exchanges should utilise our API and become carbon neutral, there are no excuses.

We created DOVU to reward positive behavior and with investment from Jaguar Landrover, we focused on mobility, rewarding green driving, and sharing of data. Whilst this is still a valid cause we have made the decision to move our focus on utilising our technology and platform to address the pressing issue within our core industry.

As of 17th June 2020, there are 904,928 ETH and 292,000 BTC transactions per day, if you then add on the other major tokens it is clear that we have a carbon problem that needs a solution. Bitcoin Energy Consumption Index

All crypto transactions should be offset and we will work with our industry to look at ways to address the reduction in energy consumption of public blockchains and coins/tokens.

Utilising our API all crypto transactions can be automatically offset, a DOV token will be issued and then redeemed within our HUB  against a Gold Standard approved carbon offsetting project.

Visit https://dovu.earth to see the projects we support.

Developers:

Our API is  available and rewards developers for building products based on our protocol.

Here is the link to our API

https://developer.dovu.dev/