What is Dovu?
Dovu (DOV) is a unique platform that aims to counterbalance the environmental impact caused by the cryptocurrency market while supporting carbon capture projects globally. The platform offers a carbon calculator to measure the carbon footprint of users and offers ways to offset or rectify it using their platform.
To ensure accuracy, Dovu uses reliable sources to calculate carbon capture, such as blockchain and Hedera hashgraph, to compute data. Hashgraphs are algorithms that use blockchain benefits to speed up data delivery. DOV is the utility token of the platform that users can use in the marketplace. The tokens are awarded to users based on calculated carbon credits.
Utility tokens are designed to help users perform an action or service on the website. Dovu aims to use the tokens to offset the carbon footprint and carbon debt of active crypto projects. According to the whitepaper, the platform plans to keep the value of DOV tokens at par with the carbon price. Tokens representing the carbon value per unit are then named cDOV. cDOV is designed as an elastic supply token or rebase token that can match the value of carbon supply. An elastic supply token is one whose supply and value change based on market value.
The delivery of assets works in a three-way system. Firstly, there is a rebase token (cDOV), which is a single-use, real-life asset that has a burning mechanic. Secondly, there is a verified asset (DOV), which is an auditable asset in the crypto market. Thirdly, there is an engine that schedules the liquidation of cDOV tokens to the asset owners over a period of time and within predefined rules. The platform aims to reward cDOV users with DOV tokens and NFT offerings. Coin burning is a process of removing tokens from circulation to manage their value. Additionally, the platform aims to mint cDOV tokens to offset the carbon footprint. According to the whitepaper, one cDOV equals one tonne of carbon. The initial supply of cDOV is 1100.
With the supply of cDOV, the platform plans to use farmers, asset owners, and users to encourage carbon offset and reduce the carbon footprint. This unique approach aims to make a positive impact on the environment and benefit the crypto community.
The whitepaper with the vision and mission of Dovu was launched in January 2021. The team includes Irfon Watkins, the co-founder, and CEO, Krasina Mileva, another co-founder and COO, Jelena Keatley working towards business development, Matt Smithies as CTO, and Nimrod Cohen as the head of product. The team is committed to making the world a greener place and revolutionizing the crypto industry.
In conclusion, Dovu (DOV) is a groundbreaking platform that aims to revolutionize the crypto industry by making it more environmentally sustainable. With its unique three-way system and elastic supply token, Dovu aims to counterbalance the carbon footprint left by the cryptocurrency market while supporting carbon capture projects globally. By using reliable sources to calculate carbon capture, the platform offers accurate measurement of users' carbon footprint, and cDOV tokens are designed to incentivize users to reduce their carbon footprint. The team behind Dovu is committed to making the world a greener place and paving the way for a more sustainable future.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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