May 30, 2024

NyxCarbon joins the peaqosystem

What is happening?

NyxCarbon — a lending platform for carbon removal and ecosystem restoration businesses — has chosen peaq as its layer-1 blockchain.

Why is it important?

It opens a new class of Real-World Assets (RWAs) for the Web3 community and, perhaps most importantly, helps environmental-focused businesses acquire much-needed funding. 

What does it mean for the community?

You will be able to earn rewards while making the world greener through your support for businesses focused on defusing the climate crisis. 

Financing a sustainable future

With companies under increasing pressure to minimize climate-related financial risk, the need for environmental services is growing. The problem is that businesses offering much-needed services like carbon offsetting and environmental monitoring often struggle to secure the necessary funds to grow. This not only hinders the growth of a sector vital to defusing the ongoing climate crisis, but also discourages entrepreneurs from even trying to enter the industry. 

NyxCarbon — a lending platform for carbon removal and ecosystem restoration businesses — is joining peaq to connect sustainability-focused projects with financing. This not only brings an innovative approach to solving the funding issue for environment-focused businesses, but also opens up a new class of RWAs for the global Web3 community. 

On a mission to unlock over a trillion dollars in sustainable finance commitments, NyxCarbon is  actively connecting companies with asset managers who have experience in private debt markets. By leveraging the power of AI and Web3 technologies, they aim to improve risk assessment, simplify loan servicing, and create sustainability-linked lending opportunities for asset managers and financial institutions. 

As part of its integration with peaq, NyxCarbon has already deployed its commodity swap smart contracts on the network, enabling sustainability businesses to sell carbon certificates. They are also developing smart contracts to verify key data points like soil, air, and water quality, alongside off-chain carbon credit sales on internationally-recognized registries. This process ensures borrowers are delivering high-quality, quantifiable services to their customers.

“We can’t wait to watch the growth of environmental markets as companies use the protocol to link real-time climate data to financing. peaq captures the importance of remote sensing and data verification that make up environmental markets, making their digital infrastructure a powerful component of the platform.”

— Brittany Salas, Founder and CEO of NyxCarbon
“Financing for carbon removal and biodiversity is crucial for a more sustainable tomorrow. We’re excited to see NyxCarbon join the peaq ecosystem and innovate in the RWA sector with a platform fusing Web3 and the common good.”

— Till Wendler, co-founder of peaq

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