Adding Ecological Hypercerts into Ultragreen Money
We would like to propose to add environmental hypercerts (Ecocerts) that represent conservation impact achieved by local communities, with outcomes validated through onchain data and AI verification. Each hypercert should be evaluated through various monitoring methods, such as field data, drone images, satellite imagery, and community participation. By tokenizing verified conservation activities, these hypercerts create a direct link between funders and verified environmental outcomes, enabling efficient resource allocation and providing communities with reliable income streams for their conservation efforts.
We are proposing to integrate these environmental hypercerts into Celo’s UltraGreen Money, with the GainForest XPRIZE Hypercert as our initial test case. As winner of XPRIZE Rainforest’s “Most Impactful Approach” award, GainForest has achieved verified conservation impact: $32K in conservation data income, 13 capacity-building workshops across three continents, and partnerships with 28+ local communities. All of our impact is exclusively attested on the Celo network. (GainForest advocated to Hypercerts to migrate to Celo in 2023).
Strategic Benefits for Celo
By incorporating environmental hypercerts into UltraGreen Money, Celo will: 1) Fund on-chain infrastructure for impact verification; 2) Expand beyond traditional carbon credits; 3) Create alternative revenue streams for communities. 4) Position Celo as a pioneer in establishing hypercerts as an impact primitive within the Ethereum ecosystem.
This pilot involves leading organizations in the impact-based PGF ecosystem, including Hypercerts Foundation, VoiceDeck, and GainForest’s community partners, with additional interest from Gitcoin, MaEarth, and Filecoin. The GainForest XPRIZE hypercert serves as an initial test case snd in the next weeks we will enable further community-created hypercerts from both GainForest’s network and the broader ReFi ecosystem to be proposed in this forum.