Cardano Foundation Completes Funding To Plant 1 Million Trees

Cardano Foundation Completes Funding To Plant 1 Million Trees

Last year, the Cardano Foundation announced that it was partnering with Veritree to plant a million trees. This partnership was part of the project’s commitment towards going carbon green and helping to combat climate change. Over the next few months, the foundation had continued to push this project, raising money in the process for the trees. Now, the foundation is ready to begin planting its million trees as it completes funding for its project.

Cardano To Plan 1 Million Trees In Kenya

In a recent tweet, Chief Executive Officer of the Cardano Foundation, Frederik Gregaard, confirmed that the project was now 100% funded and ready to go. The #CardanoForest project is aimed at planting trees to combat deforestation and restoring land and local ecosystems. With this, Cardano aims to push forward its Cardano Global Impact Challenge in what will be the first of many.

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It shows the Cardano Foundation’s commitment to the well-being of the environment and maintaining a green footprint. Partnering with blockchain startup Vertiree, which uses blockchain technology to aid tree-planting efforts across the globe and keeping track of the trees planted.

The funds for the 1 million trees project were sourced from the Cardano community, with those who donate 15 ADA and above receiving a Digital Land Restoration Certificate, as well as other rewards, and being able to exchange their ADA for TREE tokens on a 1:1 swap. For each ADA donated, one tree will be planted, and at the time of this writing, 1,001,000 have been funded through this initiative.

Gregaard confirms in his Twitter thread that the efforts of the #CardanoForest will focus on Mombasa, Kenya, to support land restoration and local ecosystem development activities. In addition, “All trees planted will be recorded on the Cardano blockchain for enhanced transparency and serve as public proof of land restoration activities,” the CEO said.

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Positioning To Help The Climate

Cardano being a proof of stake network has always been focused on helping the climate. Through its recent partnership with Veritree, it has taken this one step further by replenishing the forest resources of the world. The project plans to plant trees across a number of countries, including Kenya, Nepal, Madagascar, Indonesia, Senegal, and Haiti.

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This is in an effort to combat the effects of crypto mining on the climate, which uses a tremendous amount of energy to confirm transactions, in the case of proof of work mechanisms.

In a tweet, CEO Frederik Gregaard reiterates Cardano’s commitment to positioning the blockchain as a global leader in climate change.

We are striving to position Cardano as a leader in climate impact and this is only possible because of the Global Cardano Community; our incredible team here at @cardano Foundation; the industry group, @CardanoCnbg; and our partnership with @veritree_

— Frederik Gregaard (@F_Gregaard) January 9, 2022

As Cardano strives to be carbon-neutral, it is also working to change the narratives around blockchain technology and its benefit to humanity. “Together we all share a mission to see Cardano deliver as a blockchain for good,” said Gregaard.

Featured image from BSC News, chart from TradingView.com

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