News
What’s happening?
Menthol Protocol has developed a methodology for calculating carbon emissions and launched a calculator that enables anyone to calculate their carbon footprint on krest, and in the future, peaq.
Why is it important?
The peaq ecosystem is becoming even greener, and more projects will be able to go carbon-neutral. By measuring energy and emission output, peaq can work to decrease the ecosystem’s carbon footprint and implement incentives to help protect the planet.
What does it mean for the community?
Menthol Protocol’s carbon emissions calculator is the first step toward an automation tool for measuring and offsetting the carbon footprint of dApps and DePINs. This will enable peaq to work as a carbon offsets platform for the wider Web3 space, which will generate more value for everyone.
“Blockchain is killing the planet."
Web3 critics are still holding on to this mantra, even as the industry continues to take major steps toward carbon neutrality. No, peaq isn’t burning the planet, but sustainability is an important focus, and so is monitoring the peaqosystem’s footprint.
Enter Menthol Protocol, the first multi-chain decentralized sustainability ReFi protocol. After joining peaq back in May, Menthol has been working to reach its first milestone of the peaq Ecosystem Grant Program. Now, it’s successfully hit its program's first milestone.
Menthol Protocol aims to create a tool that will enable the peaqosystem to monitor and automatically offset its carbon footprint. The first milestone is the development of krest-specific energy and carbon emission measuring methodology and the launch of a carbon emissions calculator.
The energy and emission model is a mathematical tool enabling anyone to estimate how much it would cost per year to turn krest fully carbon-neutral based on a number of parameters, including offset costs, node configuration, and more. Spoiler: assuming an offset price between $40 and $80 per metric ton, you can’t even buy lunch with that money in some places. As you know, krest is a green network after all.
The model also includes various other stats, such as the estimated energy use and emissions per transaction. As such, it works as a handy tool enabling the community and builders to keep track of their respective emissions and offset them if and however they see fit.
The model also powers Menthol Protocol’s real-time emissions calculator that enables anyone to measure their carbon footprint on krest. To use it, simply copy and paste the address that you want to check, and in a few seconds, the calculator will let you know how much carbon the address’s network activity has generated.
While these tools are already quite handy, it’s just the beginning. As the next step, Menthol Protocol will be building an indexing tool that will enable it to bundle up and monitor the transactions associated with a specific dApp. This will enable dApps and DePINs within the peaqosystem to measure their footprint and offset it. From there, Menthol Protocol would move to onboard the projects willing to offset their emissions and set up an automated framework for doing that.
