We wrote recently about Olympus DAO and mentioned that it has spawned many forks. Recently, a new kid in the Olympus DAO-fork block – Klima DAO – has been turning heads as it has amassed a treasury worth over $110 million in under a month since its inception. So what is Klima DAO and how is it different from other Olympus forks?
In short, Klima DAO is a decentralized autonomous organization (DAO) and DeFi protocol that aims to drive climate action via a carbon-backed, algorithmic currency - its KLIMA token. Its goal is to encourage emissions cuts by pushing up the price of carbon assets.
However, before we dive deeper into Klima DAO, we have to first familiarize ourselves with the carbon market.
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