A new generation blockchain product will neutralize its carbon emissions
- Popcorn Network (POP) partners with Patch to reduce carbon footprint
- Building a sustainable and independent DeFi product
The two teams will collaborate to launch a carbon-neutral decentralized finance (DeFi) system to allow crypto enthusiasts to earn while supporting charitable initiatives.
Popcorn Network (POP) partners with Patch to reduce carbon footprint
According to a press release shared with U.Today, Popcorn Network (https://popcorn.network/), an eco-friendly DeFi system governed by DAO, has entered into a long-term strategic collaboration with Patch, an Ethereum-based carbon debit market.
Within this partnership, Patch will track the carbon emissions of each smart contract included in the Popcorn Network (POP) build. Subsequently, Patch will distribute automated contributions from Popcorn Network to the latest carbon offset and removal projects.
Through a network of smart contract emissions APIs, Popcorn Network will distribute 50% of fees that users file to the DAO’s list of climate charities.
Michael Kisselgoff, co-founder of Popcorn Network, confirms that this is a groundbreaking attempt to bring an environmentally friendly spirit to the DeFi sector:
Popcorn ensures eco-friendly performance by offsetting the carbon footprint thanks to the patch, no matter how many users and TVL we expect to accumulate. This is a new model for banking, allowing us to extend our reach while generating competitive returns for our users. We are proud to be the first DeFi yield enhancer to go green.
Building a sustainable and independent DeFi product
Brennan Spillassi, co-founder and CEO of Patch, also stresses the positive social impact of this collaboration:
DeFi has the potential to make a significant social impact, while continuing to generate returns for users. Popcorn is making this potential a reality by offsetting its particular emissions to work on Ethereum and allocating a meaningful portion of the revenue to high-impact decarbonization and offset projects.
In essence, Popcorn Network (POP) offers its users a high-throughput account software.
Besides climate charities, the fees raised are distributed among all holders of their original token, POP.