[PRESS RELEASE – Berlin, Germany, 5th October 2021]
Popcorn Network is integrated with Patch, the premier decarbonization API platform that enables companies to neutralize carbon emissions through high-quality, high-impact decarbonization projects.
The smart contract emissions dashboard developed by Popcorn, informed by Patch-powered Ethereum network emissions data, enables the carbon impact of any smart contract implementation to be calculated. From here, Patch steps in by making automated contributions to a wide range of carbon offset and removal projects. They include negative frontier emissions technology and nature-based carbon sequestration projects.
Cryptocurrencies came under fire in 2021 as many realized the high power consumption of Proof of Work mining. Due to the strong presence of DeFi and NFT protocols in PoW Ethereum, these sectors have often suffered criticism for choosing the platform. Generally speaking, there are very few crypto ventures that are interested in sharing their very large revenue and revenue with social impact organizations. Even if every DeFi and NFT protocol were to turn into a Proof of Stake blockchain, they would still have a certain degree of carbon impact and societal cost.
Popcorn Network was created to provide an alternative method for sustainable DeFi provision, shifting 50% of fees charged to DAO’s List of High Impact Organizations. In addition, achieving carbon neutrality was the initial goal of the project. Thanks to Patch and the open source Smart Contract Emissions APIs, Popcorn can deliver on its promise.
DeFi and green initiatives are a natural union where users will be more motivated to contribute to social causes by sharing a portion of a much higher return. With HYSI, a high-yield Popcorn index due to be released in the fourth quarter, users will contribute more to social causes than traditional banks give them interest – while maintaining the vast majority of the return from their own assets.
“Popcorn ensures eco-friendly performance by offsetting the carbon footprint thanks to the patch, regardless of the number of users and TVL we expect to accrue. This is a new model for banking, allowing us to scale our impact while achieving competitive returns for our users,” said Michael Kisselgoff, co-founder of Popcorn: We are proud to be the first DeFi revenue enhancer to turn to the environment. “DeFi has the potential to make significant social impact, while continuing to generate returns for users,” said Brennan Spillace, co-founder and CEO of Patch. The potential is a reality by offsetting their particular emissions to work on Ethereum and allocating a meaningful portion of the revenue to high-impact decarbonization and offset projects.”
About the popcorn network
Popcorn is a new eco-friendly model for DeFi where users can earn high return on their crypto assets while making a real impact in the world. Protocol fees are distributed not only to POP token holders, but to influence initiatives chosen by the community. Partnerships with negative carbon projects ensure the overall positive impact of the protocol, allowing users to combine personal benefit while contributing to society at minimal cost.
Smart contracts offer the opportunity for social good in DeFi by contributing a significant percentage of fees to make an impact. This is why we made popcorn. We believe in doing good with DeFi.
About the patch
Patch is the first API decarbonization marketplace that enables companies to purchase as little as one gram of decarbonization from individual projects. This access to micro-transactions allows businesses of all sizes to work with decarbonization and emission-neutralization projects with the precision required by embedded decarbonization use cases, such as carbon-neutral shipping, travel, and climate-positive financial services products. As an API-first platform, Patch aims to create a future where every transaction — every credit card swipe, retail delivery, and bitcoin purchase — automatically compensates for its inevitable emissions.
Free $50 Binance Futures Coupon: Use this link to sign up and get 10% off fees and $50 when you trade $500 (limited offer).
PrimeXBT Special Offer: Use this link to register and enter the code POTATO50 to get a free 50% bonus on any deposit up to 1 BTC.