Climate impact has not been the primary concern when designing blockchain technology and its sustainability issues carried over to the Decentralized Finance (DeFi) space. In 2020 DeFi boomed: more and more people join the ecosystem every day, and while this presents new opportunities, it also brings sustainability challenges to the forefront.
Consequently, we are presented with a problem where many existing and dominating networks face a cluster of sustainability issues. The environmental impact of the blockchain technology makes Bitcoin’s financial sidechains and Ethereum, on which DeFi is based, an unsuitable long-term solution for widely adopted decentralized finance.
DeFi has the potential to completely reinvent the world's financial systems but only if we address its climate-damaging nature. With more and more users in the space, there is increasing pressure to make DeFi climate positive.
The Need For a Solution
If the DeFi community fails to address the issue of sustainability, DeFi might not reach global adoption because of its environmental impact. Every $1 of cryptocurrency value created is responsible for $0.66 in health and climate damages, according to a Harvard study.
What is Brokoli?
Brokoli is the ultimate sustainability layer of multi-chain DeFi.
Brokoli merges DeFi and GameFi to incentivize users to make, own, and trade their positive impact. The project has three interconnected parts that all serve a single purpose: to rapidly grow Brokoli’s user base and offset DeFi’s carbon footprint.
Brokoli’s core:Environmentally friendly gateway into the most popular DEXs and dApps.
API: Any blockchain platform (centralised or decentralised) can implement our API to allow users to opt-in to a small climate fee that offsets their transaction’s footprint.
Digital Forest / Brokoli Impact Credits: Users receive NFTs based on trees they have funded the planting of by using our products and completing daily quests. Digital NFT forests will be tradable as Brokoli Impact Credits: Corporate Social Responsibility standard loosely pegged to real forests and purchased by corporate partners.