Community Call Recap #1

Solid World DAO’s first community call this Tuesday was a huge success, and we will continue to host them every week, to give the community a chance to catch up with the team about new developments and ask questions about the protocol. For now we will be keeping the meetings at the same day and time.

The call began with a presentation from Stenver Jerkku, which explained the basics of the Solid World protocol, and the problems that it’s intending to solve in climate markets.

Stenver explained that funding is one of the primary things holding new carbon sequestration projects back from launching and becoming successful long term. Solid World intends to provide much-needed liquidity to these projects with it’s unique option of tokenizing credit pre-purchases. This allows projects to sell their credits ahead of time to fund operations — without the long wait of up to 5 years from activity-to-issuance.

Community Questions

How are new carbon sequestration projects selected and how can you ensure they follow through?

Some community members had questions about the vetting process and how Solid World can ensure that pre-funded projects actually deliver the credits that they promise to. Stenver explained that Solid World will have a rigorous selection process where reputable projects are selected for pre-funding.

Pre-funded projects will also sign contractual agreements with the Solid World Foundation, the company that will manage the contracts. The projects will also only be able to sell 50% of their credits right away, and they will have 5 years to deliver on their promises, which will give teams plenty of time, even in cases of natural disaster. The Solid World treasury will be able to cover the expenses that result from a failed project, and the projects will still be contractually obligated to meet their agreements.

The specifics of the vetting process are still being determined, but we will prioritize projects that have good reputations.

What geographical regions will you be sourcing carbon credits from?

Solid World wants to source credits from all over the world, but Europe and the United States currently have the most developed carbon markets and will be the easiest markets to enter initially. There are still high quality projects all over the world, and Solid will look everywhere.

Did you choose an OHM fork in your tokenomics model?

We don’t think of SOLID as an OHM fork. We have reworked our approach to the policy, structure and mechanics to better fit what our vision is of SOLID. SOLID is not a reserve currency. That being said — we have borrowed mechanics from it, which we feel are great innovations — this being bonds and protocol-owned liquidity. Protocol-owned liquidity can guarantee the existence of a market, which we feel is necessary to the project’s success and longevity.

We won’t be doing the aggressively high short-term APYs that OHM forks are known for and have designed our mechanics to disincentive over-leveraging and the resulting turbulence. The ways that SOLID benefits from creating and then managing the pre-purchasing marketplace we think is also a unique offering.

Do you have a launch date?

We are not in a rush to launch, especially with the current conditions in the crypto market. We want to build a good project and strong community before fully launching, but the launch of the platform and token is tentatively scheduled for Q2 or Q3 of 2022.

Do you have a marketing plan?

We are planning a prolonged marketing campaign as we build our community. We also plan on building partnerships with many groups, projects and organizations that work in the areas of climate, crypto and regenerative finance. We are also currently hiring for a head of marketing position.

What can the community do to help?

The best thing that the community can do is help spread the word about the project online. Make memes, twitter posts and blogs about the project and our goals. You can also help connect Solid World with carbon sequestration projects, or other partners in ReFi, crypto and climate. You can also contribute to discussions in the Discord channel and give feedback to the team about what we can improve.

Tune in to our call next week, and if you can’t make it, you can always ask questions in advance in Discord or Telegram.

You can view the video HERE.