Coorest is launching its governance token CRST on May 31, aiming to engage investors from the technology, cryptocurrency and renewable finance sectors. Coorest’s main goal is to revolutionize the carbon market by introducing transparency and traceability, making carbon offsetting accessible for everyone.
The CRST token will be listed on crypto exchange P2B June 9.
About Coorest and its goals
The Voluntary Carbon Market (VCM) plays a significant role in global decarbonization. Corporations and governments are setting ambitious carbon neutrality goals, aiming to achieve net-zero within the next 20 years. However, the VCM is facing many challenges, such as accessibility, double issuance, double counting, and a lack of transparency and traceability.
Coorest has revolutionized the ReFi landscape by introducing the first-ever carbon compensation standard based on blockchain technology and satellite monitoring, certified by a United Nations-accredited carbon auditor. Recognizing the essential connection between companies and farmers, Coorest has dedicated its efforts to bridging the gap between them and making the carbon trade beneficial and fair for both ends.
Through the power of blockchain technology, Coorest offers a groundbreaking solution, making carbon compensation easy, fast, and transparent for individuals and businesses worldwide. Geographical barriers are eliminated, enabling instant CO2 offsetting and creating an immutable and traceable record while allowing farmers from developing countries to connect and trade the value they create, helping them earn more and reinvest in their business, contributing to the greening of the planet. According to Coorest’s CEO and chief technical officer, Nick Zwaneveld:
“By choosing Coorest for CO2 compensation, individuals and businesses actively demonstrate their dedication to the environment. Becoming carbon-neutral through Coorest not only reduces their impact on the planet but also contributes to a greener future for all.”
After achieving significant accomplishments and verifying the validity of the project, Coorest is now announcing the next major milestone in its journey: the launch of its governance token CRST.
Coorest’s governance token CRST
The Coorest governance token CRST is an opportunity to be part of two growing markets — Web3 and the carbon market — while supporting a sustainable and ethical carbon compensation ecosystem.
In commitment to growth and innovation, Coorest recently joined the Chainlink BUILD program. This partnership with Chainlink, a leading provider of decentralized oracle networks, further strengthens Coorest’s technological capabilities and expands the potential impact of the platform. As part of this partnership, Chainlink holds 5% of the CRST token supply, demonstrating its confidence in Coorest’s mission and shared vision for a sustainable future.
The CRST token will be used for voting and staking on the Coorest platform in a decentralized manner.
When users stake CRST, they become eligible to receive a portion of the on-chain CCO2 token fees generated by the platform, creating a symbiotic relationship between both tokens. Staking will be deployed on the Polygon network to avoid high Ethereum gas fees.
Users that hold and stake CRST will be able to influence future decision making through CRST staking and the types of investment opportunities available, benefiting as a result of the ecosystem’s growth.
The CRST token will be needed to gain access to the natural disaster insurance product Coorest is developing in partnership with Chainlink, Polygon, Etherisc and Floodlight, along with decentralized CCO2 futures and futures product development.
To understand more about Coorest’s tokenomics and how its ecosystem works, head to the website.