Coorest Joins Chainlink BUILD Program To Accelerate Adoption of NFTrees, CO2 Tokens, and PoCC Certificates
We’re excited to announce that Coorest is officially joining the Chainlink BUILD program. As a part of BUILD, we aim to accelerate ecosystem growth and long-term adoption of our carbon compensation platform by gaining enhanced access to Chainlink’s industry-leading oracle services and technical support, as well as incentivizing greater cryptoeconomic security, in exchange for a commitment to provide network fees and other benefits to the Chainlink community and service providers, including stakers.
Coorest currently uses the Chainlink Network to access satellite geospatial data from Floodlight and was previously the recipient of a Chainlink grant. Our participation in BUILD furthers our integration with Chainlink, with added benefits of priority support from the Chainlink ecosystem and stronger incentive alignment between the Chainlink and Coorest communities.
We’re confident that through enhanced support, secure off-chain services, and the backing of Chainlink’s vibrant community, we can increase awareness of Coorest and speed up the adoption of instant and effortless carbon compensation practices needed to help scale climate finance.
Transparent Carbon Compensation for Individuals and Businesses
Coorest enables anyone to become carbon-neutral by voluntarily compensating for their CO2 emissions through the purchases of NFTrees, CO2 tokens, and PoCC (proof of carbon compensation) certificates. All tokens that are part of the Coorest Carbon Standard are certified by Earthood, an official United Nations auditor.
We aim to provide a superior alternative to low-quality carbon compensation projects that lack transparency and traceability through the use of Web3 technologies. By using blockchains, smart contracts, and decentralized oracle networks, we’re able to mint NFTs representing real-world trees planted by carbon reduction projects and monitor them via satellite, generate on-chain tokens that represent 1kg of CO2 absorbed by the trees, and provide certificates containing all relevant compensation data to anyone who buys and burns the tokens.
Why We Joined Chainlink BUILD
Coorest joined BUILD to maximize the benefits of security and reliability that Chainlink’s oracle infrastructure provides. As part of BUILD, Coorest will receive key benefits, including access to and integration of secure, reliable, and decentralized Chainlink Data Feeds needed to help verify that our NFTrees, CO2 tokens, and PoCC certificates represent carbon extracted from the atmosphere, and access to new Chainlink product alpha and beta releases, among other benefits.
In exchange for these services, Coorest will make 5% of its native token supply available to Chainlink service providers, including stakers, over time. These mutually aligned economic incentives enable both communities to support one another.
“We’re excited to be joining Chainlink BUILD to gain enhanced access to the industry-standard Web3 services needed to create an advanced, reliable, and secure trust-minimized application. We look forward to building upon our existing Chainlink integrations to further increase the accuracy and reliability of the tokens that make up our Coorest Carbon Standard.” — Nick Zwaneveld, CEO at Coorest.
Chainlink is the industry-standard Web3 services platform and has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
Coorest is the first carbon compensation company to have a worldwide certified carbon standard based on smart contracts and satellite monitoring. By utilizing a combination of tokens linked to real-world green assets, satellite data, and blockchain technology, the company offers products and services that enable companies and individuals to offset their carbon emissions while simultaneously supporting farmers, reforestation projects, local communities, and biodiversity. This approach solves multiple issues in the voluntary carbon market, including, such as double counting, low-quality offsets and lack of traceability and transparency.