WaterDAO

Organization introduced a new term in eco-related offsetting: a water credit. As the greenwashing happens frequently in the carbon credits-related projects and activities, WaterDAO aimed to eliminate the possibility of malicious retirement of the same credits from the very beginning of the credits issuing. Organization has been working on the IoT device that could measure the water processing facility activities and calculate the water credits produced, but there was no platform to track and further process the water credits from multiple producers.

WaterDAO smart contracts protocol was designed and developed tailored to the WaterDAO needs in credits emission and retirement, and deployed to Arbitrum Blockchain. Procotol establishes the operation through the water credit token - RH2O, a governance token - GH2O, and a Retired Water Credit NFT token as a proof of water credits offsetting. Protocol also contains an order book for water credits offsetting requests, handling interaction berween offset-requesting companies and water producing companies. For decentralized governance, protocol contains an on-chain provable DAO proposal requests confirmation or declining, and on-chain proposals resolving mechanics. The GH2O governance token holders need to lock their token in order to vote in DAO, and protocol supports convenient lock and unlock of tokens. The registry of water producing companies is kept on-chain as DAO onboards them, with the coordinates of processing facilities stored on-chain to further provably calculate the water credit price.

Additionally to the smart contract protocol, Spect service is set up to work as an entry point for DAO proposals submission. Service is integrated with the protocol and established tokens escrow for a certain types of supported proposals. After subsmission of proposals through spect, the solution automatically introduces the new proposals to DAO council in an easy-to-use SafeWallet application for proposals management. DAO council can initiate and confirm the decisions related to proposals without being too blockchain-savvy and composing complex transactions themselves.

Snapshot DAO is set up to work with the procotol locked governance tokens strategy and integrated with the platform in such a way that proposals are created automatically on protocol smart contract events and appear for DAO resolving in the custom Safe-Wallet application. All the proposal initial requests are stored in decentralized IPFS storage so all the DAO activity and decisions are kept transparent. Platform provides default strategies for each proposal type resolving and makes it easy for DAO council to confirm the final decision after public voting.

Token holders can operate the RH2O, GH2O and lock their tokens through an easy-to-use dApp integrated to the main DAO website.

The offsetting water credits service allows companies track their orders at different locations, see the water producers list and price to order the credits offset, pay for the orders with Stripe. Water producing companies also can approve or cancel orders made to them. Platform ensures the escrow, refund and order-based payment to the water producing company.

Aegas continues extending the WaterDAO ecosystem with new algorithms of water credits price calculation and tools for both water credit companies and companies looking to offset water.