Menthol Protocol, the first multi-chain decentralized ReFi (Regenerative Finance) protocol with automatic carbon offsetting, joins the peaq ecosystem to help decentralized applications (dApps) and Decentralized Physical Infrastructure Networks (DePINs) on peaq to calculate, reduce, and offset their environmental impact. peaq is the fifth Layer-1 blockchain supported by Menthol, alongside Ethereum, Polygon, BNB Chain, and Celo.
Why does it matter?
While already highly eco-friendly, the peaq ecosystem will get even greener with the integration in place, enabling projects to go carbon-neutral through on-chain means, including the impact from both dApps and the machines they leverage.
What does it mean for the community?
Besides a greener ecosystem, which is a net positive for everybody, this also means more projects coming to the network to leverage it for carbon offsets and with that, more liquidity coming in.
You’ve heard this one before. Come on, say the line, Bart! “Blockchain is bad for the environment,” there we go, there’s the jab that used to be thrown at Web3 from every possible angle. It’s like banks and their data centers run on nothing but solar energy and good intentions.
As anyone who’s been around Web3 knows, this argument is pretty easy to refute. Yes, Proof-of-Work networks do tend to consume more power, but the Proof-of-Stake model and its many variations demand significantly less energy. And Polkadot, which peaq will soon be connected to, is pretty much the most sustainable blockchain network out there, all thanks to its hub-and-spokes architecture.
So rest assured, dear peaqonauts, peaq is not here to set the world on fire. We just want to start a flame in your heart… Ahem. Still, it wouldn't hurt to keep track of the ecosystem’s carbon footprint, however low it could be, and offset it on the go via sustainable Web3 tools and projects. To make that and more happen, Menthol Protocol, the first multi-chain decentralized sustainability ReFi protocol with automatic carbon offsetting, is joining the peaq ecosystem.
Keepin’ it cool
Menthol Protocol works toward a more sustainable Web3 by bringing dApp builders and decentralized communities a handy and versatile tool for offsetting their carbon footprint with on-chain credits. The protocol handles the offsets automatically in line with the user’s needs and preferences, leveraging pools of trusted on-chain sustainability and impact projects.
Menthol’s integration with peaq will begin with a custom set of metrics that the project will develop to measure the carbon footprints of dApps and DePINs on peaq. It will look into the network’s overall hash rate, or computational power, as well as the energy sources the network relies on. These metrics will eventually power the first version of its peaq-specific carbon calculator, which will offer the community a whole new level of transparency into peaq’s sustainability.
Besides an overview of the network’s eco-stats, the calculator will also work as the basis for an off-setting mechanism that will enable any dApps and DePINs on peaq to go carbon-neutral. The mechanism will leverage automated transactions powered by various sustainability and impact on-chain projects via Menthol Protocol. The tool will be easy to integrate and set up, enabling a smooth drive toward greater sustainability. It will help projects and companies access quick and efficient on-chain carbon credits via peaq, bringing more participants and liquidity into the ecosystem.
In the longer run, the calculator will be updated to reflect the carbon footprints of the machines, vehicles, robots and devices on the network, including those running as part of various peaq-powered DePINs. This will enable the community to get a better understanding of how their machines impact the environment and give preference to devices with more sustainable carbon profiles.
“Becoming carbon-neutral is one of the key conditions for real-world Web3 adoption. Menthol Protocol enables developers, builders, and entire decentralized communities to easily track and offset their carbon footprints. Bringing these capabilities to peaq, we are upping this by a notch and linking real-world machines and services with on-chain sustainability mechanisms — a clear-cut showcase of how Web3 can change the world for the better.” — Amir Sultan Awan, CMO of Menthol Protocol.
“The Economy of Things must be as transparent as possible, and giving the community a detailed breakdown of how sustainable it is is an important step toward that. The peaq network will run on Web3’s greenest foundation, and Menthol Protocol will enable it to become even greener through increased visibility and automated offsets built into dApps and DePINs.” — Till Wendler, co-founder of peaq.
About Menthol Protocol
Menthol Protocol is a multisided platform offering a one-stop solution to automate companies' and individuals' sustainability goals, with transparent, verifiable, automated, and customer-engaging climate action together with marketing tools. With only a few clicks, Menthol Protocol will enable climate action and climate finance on auto-pilot.
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