JustCarbon Governance tokens (JCGs) and the JustCarbon Governance Model
JustCarbon is revolutionising the way in which carbon offsetting projects are funded. We are achieving this by developing a blockchain-backed platform for friction-free trading of carbon removal assets without the middlemen.
By eliminating middlemen, our platform will standardise the value of carbon offsets and bring more funding to verified carbon removal projects while opening up the carbon offsetting market to more businesses, governments and individuals.
For us, it is important that the fate of the planet isn’t held in the hands of a small number of governments, businesses or individuals but by a global community dedicated to reducing and removing atmospheric carbon.
Our blockchain-backed platform cuts out the middlemen, thereby democratising and decentralising this outdated market. But we’re also working to remove ourselves from the equation by decentralising our administration and governance.
We will achieve this through the transition to a Decentralised Autonomous Organisation, or DAO. The JustCarbon DAO will be operated and controlled collectively by holders of the JustCarbon Governance token (JCG) who will bring forward proposals and share in voting.
How the JustCarbon DAO works
JCG tokens will be gradually distributed over a 10-year period, primarily as incentives for participation in voting and using the JustCarbon ecosystem.
Anyone holding a JCG will be able to make a proposal which is then registered on the blockchain. All JCG holders can then vote on the proposal and, if the vote passes, the action is automatically triggered.
This means that JustCarbon DAO members will decide the direction of the JustCarbon platform. They will be able to decide who operates it day-to-day, what features to develop (and who will develop them) as well as how to use treasury reserves.
JCGs will also be completely separate from our emission token ─ the JustCarbon Removal token, or JCR ─ to ensure that burning JCRs to offset carbon will not remove any voting rights.
JCG holders will, however, be incentivised to use the platform by receiving a discount on transaction fees when trading on our platform.
JustCarbon’s Governance Model
Currently, the JustCarbon DAO is represented by a Foundation based in Anguilla. There are five council member positions and one guardian position, all of whom have been selected from the founding team.
Once all the initial JCGs have been distributed and the transition to DAO is complete, the role of the Foundation will be to enact the wishes of the DAO. The Foundation will also manage the mundane ongoing activities that keep an organisation operating.
Major events, however, will always be voted on by the DAO, including the decision over who sits on the council.
This way, we democratise not only how carbon offsetting is traded but the very platform used to trade the offsetting.