RICHQuack has announced the Earthlingtoken as its first incubated project and will launch its IDO on the RichQUACK Launchpad.
The platform will first assist farmers interested in forestry projects, with the goal of expanding its range of eco-initiatives in the future. Earthling enables people, families, and companies to play an active role in environment restoration by allowing them to acquire carbon credits on the Earthling platform, which helps offset carbon emissions.
What are the benefits of investing in the voluntary carbon market?
In recent years, the voluntary carbon market has expanded dramatically. This correlates with a rising recognition in the business, government, and public sectors that quick, large-scale, and coordinated measures are required to decrease global GHG emissions.
According to the National Geographic, the quantity of global emissions has reached a record high. The free market could help to reduce the level of global carbon emissions. Putting a price on carbon, in the form of a voluntary credit equivalent to one tonne of emissions, aids in changing people's behavior.
In a nutshell, as resources become more costly, alternatives emerge considerably quicker. Alternatively, natural green alternatives become considerably more appealing to organizations in need of them.
There is a motivation for companies and individuals to modify their attitudes and behavior by establishing an ETS (emission trading system). Individual efforts strengthen the natural environment and develop long-term restoration programs as a result.
The use of carbon credits, which incentivize companies and individuals to emit less carbon dioxide, is a valuable asset in the fight against climate change, bringing the world closer to becoming carbon neutral. The Katingan Mentaya Project, one of the largest carbon credit forestation projects, is already generating an impact equivalent to taking 2 million cars off the road each year.
The $1 billion carbon credit market continues to grow and has the potential for new opportunities for farmers, who can gain new revenue streams by growing trees on some of their lands for reforestation efforts.
The Earthling token will be used to fund the whole project, rewarding users with carbon credits through staking. Earthing will make it easy to measure daily carbon emissions and offset your carbon footprint by buying carbon credit through the platform. $ETLG also functions as a governance token on the platform. The IDO will take place on RichQUACK’s launchpad on May 9th.
From April 26th until May 5th, there will be an airdrop event for QUACK and BUSD. Twenty winners will receive $50 worth of Quack and 20 other winners will receive $50 worth of BUSD. Thirty winners will have a guaranteed opportunity to invest in the pre-public round of $ETLG through a Level 1 allocation whitelist on QUACKpad.
The market for freely acquired carbon credits is essential for other reasons as well. Voluntary carbon credits channel private funding to climate-action initiatives that would not otherwise be feasible. These initiatives may also include biodiversity preservation, pollution prevention, public-health improvements, and employment creation.
Carbon credits also encourage investment in the necessary innovation to reduce the cost of new climate technology. Furthermore, expanded voluntary carbon markets would ease capital mobilization to the Global South, where there is the greatest potential for cost-effective nature-based emissions-reduction initiatives.
Given the potential demand for carbon credits from worldwide initiatives to cut greenhouse-gas emissions, it seems clear that the world will need a substantial, open, verifiable, and ecologically resilient voluntary carbon market.
Disclosure: This story was submitted to Hacker Noon by an independent contributor. Hence the information contained therein has also been researched and compiled independently.