The nonprofit Cardano Foundation has reached the goal of one million trees planted as part of the Cardano Forest environmental project using the ADA token.
What an achievement! The #CardanoForest is 100% funded, we’ve reached the 1 million trees milestone. The success of this first Cardano Global Impact Challenge for the Cardano Ecosystem truly shows the power of our community.
– Frederik Gregaard (@F_Gregaard) January 9, 2022
“Cardano Forest is 100% funded, we have reached the milestone of a million trees. The success of the initiative really demonstrates the strength of the Cardano community, ”wrote the organization’s CEO Frederick Gregaard.
The environmental initiative of the Cardano Foundation is being implemented in conjunction with the startup Veritree. Users exchange ADA for TREE tokens, each equal to one tree. The minimum donation amount is 15 ADA, there is no ceiling.
Tokens can be exchanged for NFT on certain “maturity days”. The level of rarity of digital collectibles depends on the amount contributed, there are nine gradations in total.
According to VeritreeThe maximum donation amount at the time of writing is ADA 100,000 (~ $ 111,000).
“Cardano Forest will support land reclamation and local ecosystem development in Mombasa, Kenya. All planted trees will be recorded on the Cardano blockchain to increase transparency and serve as public evidence of the project’s activities, ”said Gregaard.
