The Sustainable White Paper
Updated: Aug 25, 2022
Introduction
Conducting transactions and participating in e-commerce typically involves using a trusted third party to process payments and record data. This trust-based model inherits fundamental flaws which often don’t account for increasing global carbon emissions [3]. Cryptographic blockchain technology presents an opportunity to include measures that account for sustainability in every transaction. Smart contracts, a computer program that automatically executes a transaction based upon an agreement, can leverage blockchain technologies to produce non-fungible (NFT) and fungible tokens (FT). These two types of tokens can represent investments into sustainable practices such as capturing carbon, purchasing renewable energy, and land conservation. Smart contract programs offer a way for investors to participate in a completely permissionless capacity while maintaining sustainability.
Sustainability & Governance
The first major milestone towards self-sustainability will be releasing an NFT series. The NFT series will act as a receipt documenting how much carbon was captured by the Lil Green LLC. Issuance will be annual and target carbon-negative emissions for the project. With the expected power use of 220 Watts per day to run a node to validate transactions, it is estimated that 9 kilograms of carbon will be emitted over the course of a year [2]. The company Ecotree estimates that “a tree absorbs anywhere between 10 and 40kg of CO2 per year on average” [1]. Using the conservative carbon capture estimate from Ecotree, it would require a single planted tree to reach carbon-neutral emissions on an annual basis for the node. Carbon capture targets can be adjusted with each NFT release.
Targets and goals for sustainability will eventually be set by the community through governance. Each NFT issued by the Lil Green LLC will be redeemable for multiple cryptocurrency assets including the GreenToken (GREEN). This token will serve multiple purposes including voting, creating proposals, and electing administrators. Control of the treasury keys and contracts used to create GREEN and the NFT series will be placed into a decentralized autonomous organization (DAO). This organization will be responsible for implementing community approved targets on carbon capture, renewable energy purchases, and land conservation. Successful proposals will be funded by all GREEN cast as votes as well as any other assets held by the treasury. Administrators of the DAO will be responsible for setting the supply of GREEN and any NFT series issued to investors.
Accepting Monero
In order to support our vision of a more sustainable future, the Lil Green LLC now supports XMR payments. The Monero blockchain is secure and confidential. It is energy efficient and runs on normal server hardware. Learn more at getmonero.org.
Built on Polygon
The NFT mint will take place on the Polygon blockchain using the ERC721 contract standard. Polygon has a robust DeFi ecosystem with EVM smart contract functionality. Their team pledges to achieve carbon neutral status by the end of 2022. Learn more at polygon.technology.
Rewards Per NFT
Monero XMR: 0.4
Polygon MATIC: 1.0
Polygon GREEN: 1.0
Carbon Captured: 1 Tree (~25 kg/CO2 per year)
Each NFT is fully vested and redeemable Q1 2024
GREEN Token Details
GREEN Token Distribution
Carbon Capture Targets: 33.3% of the supply is reserved for matching carbon capture targets. A GREEN token is provided for every tree planted and represents ~25 kg/CO2 captured annually.
Liquidity Incentives: 33.3% of the supply will be used as bootstrap liquidity for DEX pools.
Treasury: 33.3% of the supply will be allocated for treasury related expenses such as partnerships, labor, and strategic investments.
Wallets, Contracts, & Transactions
Treasury Wallet Address: 0x7994f65CF8248db220625Af6E99976435bBd01CF
Sushi LP Token Contract Address: 0xdc4b1B545640696395EC62Bfbb9bAF4E690cb8b6
100 trees planted as certified by OneTreePlanted.org below:
DeFi Details
The Lil Green LLC is responsible for all administrative actions required to maintain the rewards distribution and charges a 0.1 XMR fee per NFT to perform such duties. Auction proceeds on OpenSea will be used to bootstrap liquidity on the DEX SushiSwap with a MATIC and GREEN token pair. Aftermarket sales of the NFT will generate a 1% commission to supplement treasury reserves. Holders of the NFT are provided all stated rewards upon redemption of permitted ERC721 contracts after the vesting period. A new NFT series and tokenomics plan will be released on an annual basis.
Sources
[1] EcoTree. (n.d.). How much CO2 does a tree absorb? EcoTree. Retrieved March 28, 2022, from https://ecotree.green/en/how-much-co2-does-a-tree-absorb
[2] Environmental Protection Agency. (2015, June 1). Carbon Footprint Calculator. EPA. Retrieved March 28, 2022, from https://www3.epa.gov/carbon-footprint-calculator/
[3] Environmental Protection Agency. (n.d.). Global Greenhouse Gas Emissions Data. EPA. Retrieved March 28, 2022, from https://www.epa.gov/ghgemissions/global-greenhouse-gas-emissions-data