KYOTO, a Layer 1 (L1) carbon-negative blockchain, designed to scale the voluntary carbon market, launched its KYOTO token on June 30 2022, via a fair launch mechanism. The launch sold out in less than nine hours and totaled 2,388,750 Binance USD (BUSD) — the largest of its kind on the BNB Chain.
The protocol’s primary mission is to help crypto community members participate in the fight against climate change by bringing a revolutionary carbon-credit standard to its upcoming blockchain, whilst giving participants a share of the KYOTO network.
“Reflecting on how, just recently, we were embarking on the go-to-market phase of KYOTO, it’s astounding to see our efforts reaching their denouement with such a hugely successful launch of the KYOTO token. – Ashton Hunt, Co-founder and CEO of KYOTO
“It’s a testament to the hard work and passion that has gone into the project [by] all key stakeholders, and it’s evident that the mission and vision of KYOTO resonates with crypto investors. Kyoto is a cutting-edge new age web3 offering, we look forward to all the exciting things in store for KYOTO — the real journey starts now.”
Incentives for fighting climate change
The project aims to win a large share of the Voluntary Carbon Market (VCM). Scaling and empowering market participation and utility. Offering more incentives and economic opportunities. As a collaborative thought leader within Regenerative Finance (ReFi), a rapidly growing web3 vertical integrating ESG and SDG initiatives, KYOTO is involved in many significant reforestation and other positive impact projects.
“Our community will soon be presented with a full-blown ecosystem, powered by our own carbon offsets on-chain, that will intertwine both the Web3 and Web2 world. We are heartened with the results of a short yet fruitful fair launch that amounted to nearly $2.4 million. We look forward to taking our project into the future and driving the future. – Ashton Hunt, Co-founder and CEO of KYOTO added
Fairly distributed, properly vested
The KYOTO Token will eventually migrate with its users from the binance smart chain and become the utility token of the KYOTO blockchain. Participants of the fair launch will receive KYOTO as rewards for holding during this period, all KYOTO holders will be subject to a vesting schedule to ensure a fair, equitable user adoption and initial launch onto centralised exchanges.
Despite being a young project, KYOTO has already received a grant and partnered with Near Protocol, an open environmental advocate and activist, and Cudos, a carbon-neutral blockchain cloud-solution provider.
Into the next phase
The carbon-credit industry is antiquated, bureaucratic and requires innovation for revival. The public, too, is aware of the many downsides of traditional carbon credits. KYOTO is transparent, trustless and accessible for everyone — not just corporate giants. On-chain synthetic carbon credits, backed with liquidity, are revolutionary, KYOTO is taking its own disruptive approach with immediate, real-world utility. It aims to be the leading ESG-focused, carbon-credit blockchain providing liquidity to a magnitude of clean projects building on-chain.
Be an agent for change
KYOTO is revolutionizing the crypto space by intertwining everyday blockchain activities with global ecological impact. It does this by empowering users to effortlessly contribute to a greener world through their routine blockchain activities such as DeFi or NFT’s. The protocol also offers corporations and individuals the possibility to own carbon as a commodity, supporting all 17 SDGs in the process, just 18 months after the highly anticipated blockchain launch.
KYOTO blockchain also goes one step further in its commitment to protecting the environment by harnessing the ReFi principals – with 25% of network gas fees going directly towards positive impact. Those who decide to build on KYOTO’s blockchain are selecting a cost-effective network upon which the fees are 100 times less than the likes of Ethereum, whilst also supporting a ReFi community with a green initiative.