Cool the World One Transaction At a Time With Menthol Protocol
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Aside from these big brands, Web 3 and blockchain solutions are even more conscious about being environmentally friendly. This is evidenced in Ethereum's recent merge event, where the blockchain moved from its proof-of-work consensus to a proof-of-stake consensus. Among other important reasons why the blockchain moved in this direction, top on the list was the fact that it would reduce the Ethereum chain's energy consumption by 99.95%. Environmentally, the Ethereum blockchain did a very important thing. Aside from Ethereum, a protocol that is looking to impact our environment positively is the Menthol Protocol.
Menthol Protocol
Automated in a decentralized manner for sustainability, Menthol is a no-loss protocol that powers dApp transactions with the use of renowned renewable energy and carbon credits around the world. This is the first multi-chain decentralized protocol that offsets carbon emissions with verified renewable energy. The protocol supports all the major dApps and allows developers and users of these decentralized applications to be conscious and positive about the climate in a decentralized and automated manner. Ultimately, Menthol Protocol aims to be the go-to multi-chain sustainability protocol for the DeFi and NFT scene.
Menthol Ecosphere
● CoolBot
CoolBot helps users offset emissions and non-renewable energy usage with green tokens. It is built on automation networks to look up the prices of the green tokens that are supported on CooList. The bot also tracks the user's emissions and energy consumption, calculates how much of an impact the user's activity caused in terms of Carbon emissions and executes transactions according to predefined conditions by the user.
According to the price, liquidity and user’s sustainability preferences, the bot also sources tokens from CoolReserve or buys from DEXs.
● CoolReserve
The CoolReserve is where Menthol Protocol stores a reserve of tokenized green assets. This reserve is made up of green assets that are discounted and supplied by supported sustainability partners. Ultimately, the purpose of the reserve is to have a constant supply of low-cost green assets that will be used by CoolBot as a potential source.
● CooList
The Menthol CooList is a curated sustainability registry of green tokens that are approved by Menthol DAO. The registry will serve as a vetting tool to ensure that only green asset ramps and sustainability companies that entertain the same ideology as Menthol Protocol are on-boarded. This is simply because the higher the quality of the registry, the more valuable the Menthol Protocol and its token becomes.
The Menthol DAO will determine the total number of allowed green asset ramps and tokens, as well as their distributions. Curators will also be incentivized to participate in the maintenance of the registry so that only the most impactful and transparent green projects are green-listed.
● CoolSave
CoolSave helps users provide liquidity to popular decentralized non-custodial lending protocols while collecting the interest that is generated. It also enables CoolBots to use this passive income that is generated to offset the user's on-chain or off-chain activities.
With CoolSave, users get all the benefits of automating their sustainability goals for any smart contract or externally owned account without paying anything for either the service or the assets.
● CoolPool
Users can allocate funds to offset their future on-chain or off-chain activities with this feature. They will also be able to participate in crowd-funded pools to kickstart their favourite dApp or help their network to go green. A portion of the fees from this pool will be distributed to Menthol DAO for maintaining the protocol.
● CoolScore
This feature will gauge the sustainability performance of major dApps and blockchain networks based on energy and emission indicators that can be used to compare them against their competitors. By using Menthol CoolScore, users and developers are empowered to act in line with their climate targets.
$COOL Token
$COOL is the Menthol Protocol's native utility and governance token. The token is used to gain access to and pay for the automated sustainability services that the Menthol Protocol provides. It is important to note that while there has been no Token Generation Event (TGE) for the $COOL token, users will be able to spend and stake alternative tokens that are supported on the Menthol platform. This is until $COOL is minted and distributed.
Staking
Staking on the Menthol platform gives users access to different aspects of the Menthol Ecosphere. A great thing about staking on Menthol is that the user's tokens will not be used up over time and they can withdraw their full amount at the end of the staking period.
Governance
Pending the protocol's Token Generation Event (TGE), the founding team will be responsible for building and maintaining the Menthol protocol. After the TGE occurs, ownership of the protocol will be transferred to the Menthol DAO. At this point, token holders will be able to propose ideas, vote for ideas or delegate their votes.
The aim of governance in the Menthol Protocol is to create an ecosphere that brings together developers and users that are conscious of their ecosystem, automation networks, DeFi lending protocols and sustainability projects that will help people make a difference.
Menthol DAO
Menthol DAO is a decentralized autonomous organization responsible for taking decisions on key protocol features and regulations through the votes of governance token holders. This DAO will empower climate leaders to create a cooler world while ensuring that governance token holders vote and propose improvements to the protocol.