Brokoli Network ; A solution to Mining effects on the Environment.
Environmental effect of Crypto currency mining on the environment
According to the Bitcoin Electricity consumption index, run by Cambridge University’s Centre for Alternative Finance, bitcoin mining has more of an energy consumption each year than Malaysia or Sweden. Campaigners claim that the impact is exacerbated by the fact that most of the mining takes place in China, which is heavily reliant on coal power.
Environmentalists and Musk agree that the “mining” of bitcoin uses a worrying amount of fossil fuels which inflicts huge damage on the planet. Mining process generates more than 11.5 kilotons of e-waste every yea.r
How Brokoli Network profers solution to climatic problems. Through Brokoli’s DEX, users can enable carbon offsets as a part of every trade. All of this in a seamless manner without disrupting the user experience. The DEX builds upon the capital-efficient model of trading created by Uniswap v3. Here, slippage fees are used for climate positive action. This includes renewable energy project finance, planting trees, waste collection, and recycling.
Brokoli leverages the existing technical infrastructure, becoming a green gateway to other DEXs. In this case, the liquidity provider is in control of the price ranges in which their funds are used. Users can choose the fee range which is between 0.05% to 10% of the transaction to dedicate for a climate positive change.
If the fee for the transaction isn’t used to offset the price moments, then the fee is used in offsetting carbon footprint in a decentralized vote. Therefore, each trade can have a climate fee attached to it seamlessly without interrupting the liquidity providers’ experience.From every Climate Fee payment, three causes will receive the funds:
Carbon footprint offsetting by planting trees.
Renewable energy project investments in developing countries.
Financing e-waste collection and recycling programmes.
Also a snapshot-powered community vote will decide the allocation of funds to selected renewable projects and e-waste collection charities which shows that it is a décentralized system. Every time you use our Green DeFi products, you earn tradable NFTs pegged to the amount of trees you helped plant.
top of that, you choose where trees should be planted by voting for your favourite tree planting initiatives across the globe