London, 20 May 2022: Revolutionary blockchain carbon marketplace, JustCarbon, has reached a key milestone today in bringing its concept alive by releasing and trading for the first time its governance token (JCG).
JCG holders will have the right to make proposals and vote on how JustCarbon moves forward into a Decentralised Autonomous Organisation (DAO). Over the next ten years a total of 1 billion tokens will be distributed to market participants and those with an interest in the market’s integrity.
After a three day price discovery auction on the Copper Launch platform, 1m tokens were traded with a final closing price of $0.20. The JCG will now be listed on multiple exchanges from next week.
This major step for JustCarbon means that its two key components are now live: the carbon removal token (JCR) launched last month finances real-world carbon emission reductions, whilst the governance token (JCG) is the mechanism by which the system will be managed over the long term, via a DAO that can put forward and make decisions on the way the platform is operated and guide its strategic direction. This milestone allows the JustCarbon team to focus on growing the market.
John Auckland, co-founder, JustCarbon said: “We are delighted with how the auction has gone and that the community has backed us. We welcome our new token holders into the DAO structure and with these new colleagues, we will focus on the next stage of growth of JustCarbon.
By decentralising our ownership and operating as a DAO that is governed by a broad and diverse cross-section of the market’s key stakeholders and participants, who will determine its approach and strategic priorities, we believe we can eliminate many of the biases that have slowed the market’s growth and undermined its credibility”
Despite the current crypto market downturn, the auction was heavily supported by the community. The result of the auction and the feedback the team received throughout the activity, endorsed the founders’ view that there is need for a robust, digitised ‘climate-tech’ system, that’s directly tied to the real world and supports the rapidly growing market for financing climate change mitigation. Together, the JCG and its counterpart the JustCarbon Removal Token (JCR), drive real-world climate action and benefit from value-creation associated with delivering on that mission.
JustCarbon’s purpose is to connect project developers and buyers more directly, in service of a fair and transparent market for all parties when compensating unavoidable emissions. It does this through a unique product offering of a carbon removal token (JCR), that can only be minted from carbon credits that have been issued from nature-based projects within the last five years by Verra (VCS) or Gold Standard. VCS credits must also have an add-on certification such as CCBA (climate, community & biodiversity accreditation).
Carbon credits are a vital tool to finance removal of the world’s unavoidable carbon emissions by safeguarding our existing forests, planting new ones and supporting other types of nature-based carbon sequestration. JustCarbon is designed to make it simpler and more efficient for both buyers and sellers of credits from these projects.
“We are delighted with how the price discovery auction went and the liquidity gained will enhance how we can take forward this incredible and ambitious platform. We developed JustCarbon to ensure that climate action is transparent and accessible to increase trust and liquidity, whilst being environmentally sound. Importantly, as a decentralised organisation in the digital world, with a vital real-world mission to address climate change it is fantastic to see the crypto community embrace it.” Concluded Auckland.
